The process of home renovation is never simple, and it’s never cheap, either. The costs of major upgrades quickly rack up, even when you think you’re spending carefully. We can’t get rid of surprise costs, but we can take steps to reduce costs overall. Follow these twelve ideas and you may be able to save a good chunk of money on your home remodel.
1. Establish Your Budget
It seems obvious, but homeowners frequently fail to set up their budgets. Most have set aside savings and assume that it will be enough to cover the costs of home renovation.
Savings are a great starting point, but if you want to save as much as possible, you’ll need to create a budget that reflects how much you’re willing to spend when those unexpected costs show up. Determine how much you can afford and then some, so you can play it safe.
2. Be Creative with Material Costs
Where you go to purchase materials will make or break your budget. If you need help finding recycled materials, contact your local lumber supply shop to find affordable options.
You can also find reused materials on ad placement sites by people who have leftover scraps from their previous projects. Aged materials are some of the most beautiful and durable options around, so you’ll be getting high-quality materials for less money.
3. Look for Discount Essentials
For your most important pieces, search high and low for the best bargains you can find. If you want a soapstone countertop, wait until materials go on sale. The same idea applies to anything else you have your heart set on purchasing. Look for deals on windows, doors, bathroom tile, etc.
These are the aspects you’ll want to show off the most when your remodel is complete, but that doesn’t mean you need to spend excessive amounts of money to get the look you want.
4. Rely on Cash for Materials and Builder Expenses
By paying cash for these crucial aspects of home renovation, you will avoid interest charges. You might also earn a break in prices when your contractor learns that you’re willing to pay in cash.
5. Take Your Time
Renovating your home is undoubtedly exciting, but it’s not something to rush. You’ll like the results so much more if you take your time and purchase the materials you genuinely want. Don’t settle on subpar materials to get the job done faster.
You’ll also avoid the need for credit if you wait for things to go on sale. The same idea applies to contractor fees: do not settle for the builder with the best availability if what they charge doesn’t fit your budget. Take this extra time to plan out precisely what you’re looking to create in your remodel.
6. Be Your Own Handyman
Certain repairs will require a hired professional but, with that being said, there are some DIY jobs you can accomplish on your own. Rather than paying someone extra money to complete simple repairs, use your muscle and handle these smaller projects yourself. You could look into sealing subway tiles yourself or practice screaming, “Here’s Johnny!” for when it comes time to knock out a door.
7. Reuse. Reuse. Remodel.
Reuse materials instead of throwing them out. If you find that you have extra pieces of cabinetry or isolated appliance parts, use these guys to your advantage. Instead of replacing things, you can save time and money by using what you already have at your disposal.
8. Sell Appliances You Plan to Replace
Are you updating your appliances? Sell your old fridge and stove. If your devices are in poor working condition, you can likely sell them for parts.
You may be able to find interested buyers online, but if no fish bite, try contacting a used appliance store in your area. They may be willing to purchase your used appliances for a fair price.
9. Be Selective About Who You Hire
Even neighborhood referrals and recommendations can end up being the total opposite of what you’re looking for in a contractor. Everyone has different style preferences and ideas to build their dream homes, so it’s essential to consider the most competent builders for your designs and ideas.
10. Find a Balance Between High and Low Quality
Splurge on those new items you can’t live without. Maybe you want a quartz countertop or an amethyst coffee table. It’s okay to have a few luxury items but be sure to balance these pricey goodies with lower quality or previously used items, too. Utilizing a budget means you’re making the most of your money, so you will likely need to find a happy medium between smart home updates and luxurious items for that to work.
Even when it comes time to purchase lower-quality items, you don’t have to get the worst of the worst. Just look for affordable options. For example, someone might be selling reclaimed wood that you can use to create custom headboards. Interested in a glossy finished concrete floor? Consider DIY epoxy-resin flooring.
11. Always Price Match
You might be comfortable shopping at a few select stores, or maybe you even prefer to do all your shopping online. Even though the familiarity of these shopping preferences keeps things simple, you must venture out so that you can price match and find the best deals for the items you want in your remodel. You might be surprised to see that there are many more options out there when you shop this way.
12. Hey Macklemore, Can We Go Thrift Shopping?
The $300 you plan to spend on vintage drawer pulls might already be waiting for you at a thrift store for $5. Don’t let the idea of remodeling become a frenzy of buying brand-new everything. Blending some gently used items in with newer pieces is a great way to give your home a welcoming feel, and you’ll save a bunch in the process.
Home remodeling is pricey. However, implementing upgrades can both increase your satisfaction with your living space and boost the value of your home. Be smart and follow these guidelines for a makeover that doesn’t break the bank.
Author Bio
Matt Casadona has a Bachelor of Science in Business Administration, with a concentration in Marketing and a minor in Psychology. He is currently a contributing editor for 365 Business Tips. Matt is passionate about marketing and business strategy and enjoys the San Diego life, traveling and music.
