Home renovations are a little infamous amongst homeowners as they have the potential to eat your hard-earned money. The budget is the biggest fear when it comes to home remodels. Generally, you look after ways to cut down your costs like buying discounted items or crunching some designs. But you don’t need to use such tactics to save your few dollars.
So, what could be other ways to save money during the home renovation? Whatever it is, it should be smart and strategic. However, you also need to roll up your sleeves and make your hands dirty. Experts say that the successful renovators take up some of the tasks themselves.
Hence, without wasting time, let’s take a tour of the 14 tips and tricks to help you save money during a home renovation.
- Planning comes before success:
Without planning, your renovation project is likely to take more time to complete, blowing your budget and making it more stressful. Also, check which part of your home needs renovation at this moment. You can go through 8 signs that indicate you need a bathroom renovation.
Additionally, you must determine how to split your budget. For example, will most of it go on the structural renovation work or fixtures and fittings?
You can save over half on construction bills by removing structural costs from the project. Focus on internal fixtures and fittings as creating new rooms in available space is cheaper than extending your home. After all, efficiency and aesthetics can enchant the buyers more while adding value to your property. Also, stick to your budget once locked, and keep a few dollars aside for the last moment emergency.
- Reputation and work matter the most:
The contractor which you are planning to hire is one of the factors, which could either make or break your budget. Therefore, do proper research and hire them based on their reputation, previous work, and customer reviews. Do not solely lay your focus on price as they are a lot of reasons for the difference in quotations of various contractors.
Also, before showing thumbs up to a contractor, check their license and references. Take recommendations from your friends, colleagues, and relatives too.
- Do not add extra windows:
What do the windows do for you? Shed light at your home? But you need to pay a fortune to install additional windows. Therefore, before cutting a big hole for the windows, consider a less expensive way to gain natural light. And that would be done by installing a light tube.
They will brighten up your windowless bathroom as well as the hallway. And you would be able to shower light in your living space or any other room, saving a few bucks.
- Pay heed to recycling:
You can reap huge savings if you’re doing it yourself. With recycled items like fixtures and fittings, you don’t need to go out and purchase costly things. It is the best idea for home renovation, especially during the current COVID-19 pandemic, where prices of various items are skyrocketing.
Additionally, contractors generally do not agree to work with homeowner-supplied materials. They don’t want to be liable for these items if something goes wrong in the future. However, you can surely grab this tip if you’re renovating on your own. So, find anything from pre-hung doors to acrylic skylights to bundles of insulation and reuse it conveniently.
- Give your trash in charity:
Before you start with revamping your home, we would suggest removing materials and fixtures for later resale. For this, glance at every part of your home, including the corners. Through this cherry-pick job, you may find an old sink, cabinets, etc., which you want to sell it.
You would be able to get extra space, charitable tax credit on the donation, and an opportunity to do a good cause.
- Look after the project yourself:
Believe it or not, you can save approximately 10-20% of the overall project cost if you supervise the whole project. But the catch is you should know to do it efficiently. With this, you’ll cut down the cost of contractor’s time and their mark-up on labour and raw materials.
In a nutshell, you’ll have to do the contractor’s task, like finding and hiring local vendors at the right time. You should also ensure that electricians, bricklayers, and roofers have proper equipment and information to carry out the job efficiently. You can either spend the whole day supervising their work or visit twice a day (morning and evening) to check their work.
- Don’t run after short-term benefits:
Yes, instead of that, consider long-term costs! Let’s explain to you through an example. You can pre-prime and repaint your clapboard siding during the renovation so that you can save it in the long run. You’ll need to pay an extra 10-20% per foot, but you’ll end up investing half as many paint jobs down the road.
Plus, the factory finishes on the dry wood will seem to be flawless even after 20 years of its installation.
- Be meticulous:
While working with a contractor, you need to ensure that the design specifications are in a detailed form without any hidden costs. Otherwise, you will regret it when you’ll come across various issues. So, take out some time from your busy schedule and walk on the site to find any unforeseen problems. It could be related to plumbing, electrical, drainage, roofing, or anything else.
You should make sure that switches, plug sockets, windows, cupboards, etc. are located at the place shown in the blueprint.
- Track your budget:
No matter you’ve hired a manager or doing it yourself, it’s essential to keep changes to the minimum once the project has started. To avoid last moment costs, you need to track your budget. For that, you can insert the budget numbers in front of various jobs like structural work, plumbing, electrical, and so on. After that, keep a running tally so that you don’t run out of money before finishing your home renovation.
Though you’ve kept additional money for unforeseen expenses, you need to be cautious about extra costs.
- Don’t overspend on wall and floor prep:
In old homes, walls and floors may need some attention. But that doesn’t mean you need to give your whole heart to it. Instead of filling and sanding the rough walls, you can install a wall covering on it. They are made of fine glass filaments and look similar to fibreglass matting (generally used in auto-body work). Manufacturers have designed in such a manner that you can place them on top of any existing surfaces.
When talking about floor preparations, if it has lost its colour or design, you can consider installing carpets on it. You’ll save a few bucks out of it. Well, many homeowners complain about them not holding the grip properly. If you face the same issues, then learn how to stop a rug from slipping on a hard floor.
- Try to avoid moving your kitchen sink:
And the toilet too, only if it is possible! Plumbing incurs a lot of expenses and is a crucial part of your renovation budget. If your design layout requires a change, then you can upgrade the pipes at the same time. It will help you to save money in the long run.
- Go for simple modifications:
Simplicity is the ultimate sophistication! So, try making some simple transformations. If we talk about the heart of your home (kitchen), then replacing all the units will cost you more. Hence, you can keep them as-is and replace their doors and handles. There are different styles available in the market, so you can pick anyone that is not so pricey and perfect for your cabinets.
If you want to extend the walls, then consider a rectangular shape rather than a curved one as it is a cost-effective shape.
- Obtain permits beforehand:
Some homeowners consider taking a building permit as a headache, which can intervene in the renovation project. In most of the cases, permissions are an essential step to consider to ensure your house remodel meets structural and fire safety requirements.
You may not realise during the renovation project, but it can create an expensive headache when you look to sell your house. Hence, it is advisable to think beforehand and make sure that you follow the permit process.
- Haul your materials yourself:
If you’re revamping your home without the help of contractors, then you can slash your material-delivery charges. That means no pick-up truck. For a few dollars, you can buy a new single-axle utility online to tow behind your SUV. Use it for a half-dozen trips, and its paid for itself. You can even rent a truck for a day to make a few trips.
What’s the first thing you should do during the project?
Keep your head cool and calm! You must not start prowling during the renovation project. Or else, you’d end up making decisions that will lead you to shell out more than you want to. Also, consider the above tips, and cut costs without cutting corners, saving more money.
