10 Ways to Save Money on Home Renovation

You are probably wondering how you can save costs on your home remodeling project, especially with the rising cost of materials and labor. Fortunately, there are various techniques you can adopt to save costs while giving your apartment a facelift. Below are ten ways to save money on your home renovation.

Create a Budget and Stick to It

Before starting your home renovations, it is essential to create a list of the changes you intend to make in your apartment in their order of priority. After that, list the fixtures and appliances you intend to purchase, with their corresponding prices online. That helps you understand the amount required for your renovation and how to source funds. Traditionally, experts recommend setting aside between 10% to 15% for unforeseen expenses that may come up during the renovations. You can use dedicated platforms like HomeAdvisor and Agi to get a rough estimate of the cost of items. You can also visit sites like Freecycle, Craigslist, or eBay for cheap and free items online. Most people offer items at giveaway prices on these sites; you should consider taking advantage of them.

Do It Yourself

Another effective way to save money during home renovations is by applying the do-it-yourself approach to certain aspects of the renovation. Some aspects of home remodeling do not require expert knowledge or skill to implement. You can carry out exercises tiling a backsplash, laying tiles, painting, and other minor tasks. You can also learn instant skills by watching YouTube videos and joining adult schools or community skills. You can learn to implement more complex works, such as installing flooring. However, while trying to save costs, it is important not to compromise on quality. Therefore, avoid doing jobs that require the expertise of licensed contractors, like tearing down walls, installing load-bearing beams, and doing electrical and plumbing jobs. You can damage your home or even hurt yourself in the process. Ensure you possess the skill needed for each task before embarking on it.

Reuse and Recycle Materials

If your appliances are still in good working condition, consider reusing them rather than outrightly replacing them. Instead of changing your cabinets, you can repaint them, reface the doors and add new hardware. This way, you reuse your cabinet while enhancing its functionality and appeal. You can also refinish your hardwood floors instead of changing them. You can discover second-hand items on platforms like eBay, Freecycle, and Craigslist.

Shop Around

Avoid buying from the first showroom or supplier you visit. Take your time to visit various outlets to compare prices before buying any item. You would be surprised to discover the amount you can save through this exercise. Try to get at least three different quotes from builders to enable you to compare prices and services before settling for any. Ensure you have a list of items and works to be executed by each contractor before contacting them.

Avoid Carrying Out Major Modifications

Another way to save costs during home renovations is limiting the range of modifications you wish to conduct. Moving the plumbing or changing the foundation can cost you a lot of money. The same goes for moving gas, water, and electricity services in the bathrooms and kitchen. Maintain your home’s original layout without changing many elements and structures. That will help you save costs that would otherwise be spent on construction.

Have a Contingency Budget in Place

In addition to having a well-research budget for your home remodeling project, it is vital to keep additional finances for contingencies. That is necessary because there are bound to be shortfalls in your budget. Some items on your budget might be more expensive than planned. You may also be required to purchase items not originally included in the budget during your renovation. A contingency budget helps to contain the effects of any shortfall in your expenses. It also ensures that funds are readily available when needed.

Make Big Purchases During Sales

If you are renovating your home and intend to purchase brand-new appliances, it is advisable to wait for periods when those items go on sale. There are specific periods of the year perfect for buying big-ticket materials, such as Black Friday for power tools and electronics, the end of summer for lawn care and furniture material, and American holidays for appliances. Ensure you extensively research the ideal period to make your purchase, and do not let your impatience prevent you from getting the best deal. This way, you save a lot of money while buying quality items at very cheap prices.

Request for Bids

Before proceeding with your renovations, it is important to contact various contractors from trusted sites. Read reviews and confirm if the contractor is licensed. After narrowing down your list of proposed contractors, proceed to request bids. When they offer their bids, inquire if they offer rebates or discounts, which will lower your net spending. Always remember that expensive doesn’t necessarily mean better, nor does cheaper. In addition to the quotations, you can also ask the contractor for references from past clients. That will enable you to obtain first-hand feedback about the quality of their work.

Sell Appliances You Don’t Intend to Reuse

Do you have a well-used refrigerator or stove you no longer intend to use? Instead of discarding these items, you can sell them on Facebook Marketplace, Craigslist, or eBay. That will provide you with much-needed cash. Appliances in good working condition, hardware, cabinets, and doors are essential materials required by homeowners. However, consider donating the items if you do not need the money.

Take Your Time

Most people are always eager to complete their home renovations in little time. However, this can be costly if you are not patient enough. You might spend more money on contractor fees and items that could have been cheaper if you exercised more patience. Therefore, starting and finishing with one or two rooms is recommended before proceeding to other areas. Prioritize the most important renovations and give them the requisite attention. Avoid taking on everything at once, as it can be overwhelming.

To save money on your home renovation is possible. All you need is expert services and guidance at an affordable cost, which we offer. We have over 12 years of experience in home renovations, including kitchen renovations, painting, bathroom renovations, wood floors, and apartment renovations. Our services span the five boroughs of New York and Bergen County, in New Jersey. Get a free quote from us today!