A Brief History
Between 2000 and 2003, up to almost 30% of homes made of wood needed some form of renovation. Of course now there are newer houses that are not as reliant on wood structures, but the fact remains that renovations can help restore or rejuvenate an old home. Although home renovations can be a costly process, it is a worthwhile investment. Creating a house that truly feels like a home means you will need to put in a lot of time and work. Again, this is a small price to pay to get the house you feel like you deserve.
There are ways to save money on a home renovation and they are easy to do. Check out these 8 ways to save money on your next home renovation:
Do it yourself
Depending on your level of expertise, you may be able to do some of the renovations yourself. This can save you a lot of money. Things like paint jobs for your house can easily be a DIY job, consulting paintspraypro is a good way to figure out what kind of spray painting gun you might need. You do not need to break the bank to get the job done, just some hard work.
Commit to important renovations first
Focus on the most important renovations first before you work on vanity or aesthetic renos. Some of the more pressing needs of your house should be the focus, and will require more attention. You can save money, but only doing what you need now.
Research the materials
Do your research on what kind of material you may need. It will be cheaper to buy them yourself if you can do the work yourself. You may even save money with a contractor if you buy the materials and let them get to work right away.
Pay with cash
Keep your credit card tucked away in your wallet. You do not want to go over budget and start racking up a debt you cannot afford. Try to pay any contractors, or for materials, in cash so you know if you have the money or not.
Make a budget
Speaking on budgeting, try to make a plan for your finances going into a home renovation and stick to it. It is okay to go over your budget, and even better to go under, but remember that a budget is just a general idea of where you should try to stay within. You can use any excess expenses on other side projects of the renovation later.
Reuse or recycle materials
An excellent way to save money is to reuse or recycle material. If you are building something out of wood, you can use pieces that were torn out of other parts of your home. Consider asking for any other homeowners recyclable materials as well. With some know how, you can DIY those pieces and make something new without having to purchase more wood, concrete, or metal.
Get help from friends or family
Even if you do not have a lot of DIY experience, your friends or family might. Everyone has that dad, uncle or buddy who knows anything there is about repairs or renovations. They may even be friends of friends. Regardless of who it is, you can save a lot on contract work by asking for some help from our social circle. Remember to pay them for their help with a little cash or some pizza and beer for their help.
Keep your home footprint
Your home’s footprint is the term for the original structure and standing place of your home. This can apply to areas of the house like walls. Keeping the renovations in the footprint of the home means you will not be tearing down anything important, like a load bearing wall, which would require you to alter the footprint of your home dramatically. Keep it in the footprint, and you will avoid expensive alterations.
Although the belief remains that home renovations are a costly affair, and they certainly can be, there are plenty of ways to keep them within a reasonable budget. In fact, one of the 8 ways to save money on a home renovation is to create a budget. The other ways include DIY work to cut down on contractor costs, focus on the important work first, research the cost and the amount of what you need, pay with cash to avoid running up credit debt, reuse or recycle materials, get help from family and friends, and work within the home’s footprint to avoid massive changes to the home’s structure. If you can follow these 8 ways to save money on your home renovation, you will be able to accomplish your goals within a timely manner and within your budget.
Question for students (and subscribers): How do you save on home renovations? Please let us know in the comments section below this article.
For another article on our site about home improvements, please see “Here Are 4 Mind-blowing Benefits of Smart Thermostats That You Must Know.”
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For more information, please see…
Hamilton, Gene and Katie Hamilton. Home Improvement For Dummies. For Dummies, 2016.