How to Save Money on a Home Renovation

Homeowners often end up overspending or exceeding their budget when renovating their home. However, with the right planning and budgeting it is more than possible to cut down on costs without sacrificing quality. We’ve come up with some tips to help save money when renovating your home! 

 

1. Know your budget, and don’t budge! 

Before renovations start, decide how much money you’ll be able to spend on the renovations. You may want to break it down into individual projects. Do a little research on cost estimations of different types of renovations to get an idea of how much you’ll be spending. This way, you can budget accordingly. 

 

2. Prioritize projects Related image

Focus on changes that are most important to you and are most purposeful. It’s also important to start with the renovations that add the most value to your home. Kitchens, bathrooms, outdoor deck renovations, siding & vinyl window replacements, and garage door replacements are all major renovations you may want to consider doing first. 

 

3. Seek bids from multiple contractors 

If you’re renovating your entire home, you might want to consider seeking out a contractor to handle and coordinate projects. Though costly, it can be beneficial to have a contractor to get renovations done in a timely manner. To find the best value, seek bids from 2 or 3 contractors before making any final decisions. By using a contractor you can be more confident that big projects will be done correctly. It’s sometimes best to leave the harder projects to the professionals. Plumbing work, electrical repairs, and installation of appliances are just a few examples.

 

4. Be your own contractor

If your confident in your abilities to coordinate a renovation, take charge and be your own contractor! This includes finding and coordinating all subcontracts yourself. Do some research and see if you’re up to the challenge! You’ll be surprised by what you can accomplish. 

 

5. Do it yourself Related image

If you are able to do some of the renovations yourself, you will most definitely save some money!  Projects like painting interiors, installing wallpaper, installing kitchen backsplash, and demolishing walls are feasible projects that you can take on to save significant amounts of money. Projects like these can be fun and rewarding!

 

6. Don’t do everything at once

Trying to get everything done all at once can be overwhelming, and you could potentially spend a lot of money in a short period of time. Try to give yourself time to save up for each individual project. Take your time in finding the best contractor at the lowest price. Don’t be afraid to wait for sales on furniture and other home decor when furnishing your home. Get the most out of your budget!

Renovating a home can be challenging, but don’t get discouraged! Your hard work will be pay off!  

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