Property

Tips To Save Money on a Home Renovation Project

Are you thinking about giving a new stylish look to your home? If so, a home renovation project can help you achieve that new great look, in addition to increasing the value of your home. Though renovating your home is an exciting process but the cost of the project can go out of control if you’re not careful.

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Without proper planning, a home renovation project is likely to exceed your budget and leave you with a final bill you’re unprepared to handle. As such, keeping a renovation on the budget is a top priority for a lot of homeowners. Renovating a home on a small budget may require some DIY and shopping around. Making your home look more stylish, without breaking the bank requires diligence on your end.

With just a little planning and diligence, you can keep your renovation budget under control and achieve your renovation goals. Here are 4 things to keep in mind when determining your home renovation budget.

Create a Realistic Budget

The first thing you need to do is determine your budget. You can create a spreadsheet to calculate the total amount for fixtures and materials. Consider the price of flooring, lighting, paint, appliances, faucets, countertops, cabinet hardware, outlets and switch plate covers, tile, grout, and everything you need for the renovation. In addition to these, also include the cost of labor and taxes. Once you have a complete list of all items, it gets easier to find out which areas are costing more. This will help in making adjustments by choosing less expensive materials or deciding to cut out items altogether. Your final budget should also reserve, say 10% of your budget for unexpected expenses.

Consider DIY where possible

You can save some money by doing simple jobs. If you have the know-how, you can paint walls or tile the kitchen backsplash. Some DIY projects are exciting when done with the help of friends and family, such as gardening and painting fences. In this way, you can cut down some the labor cost but always make sure to do things you’re capable of handling. Leave all the electrical, plumbing and structural work for professionals. You can get quotes from multiple contractors to find the best rates.

Reuse Materials and Sell old stuff

You don’t need to discard everything. There are some cabinets and appliances that can be reused to save money. You can simply paint, and reface doors to change the style, or even replace the doors and leaving the cabinet body in place. Also, you may buy material and fixtures from salvage yards or websites where people, who are moving, sell their perfectly fine appliances. In addition to this, you can also generate some income to pay for the renovations by selling your appliances and fixtures that are in good condition.

Pick the Right Professionals

The successful completion of home renovation at best rates much depends on the professional you choose. The remodel or renovation contractor you hire should be reliable and experienced to do the job. To find the right contractor, you can take recommendations from friends and family. Always do proper research by reviewing the contractor’s website and check their ratings and customers’ online reviews.

 

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