Did you know that in the United States last year, 5.34 million existing homes were sold? It’s safe to assume that a large portion of those were fixer-uppers or homes in need of some TLC to reach their full potential.
Maybe you just bought a house that needs some work. Or perhaps you’ve been in your current home for a while and want to freshen it up. Home remodeling projects, regardless of their motivation, can be a lot of fun while also assisting you in transforming your space into the home of your dreams.
However, the excitement of getting one step closer to your dream home is accompanied by the fear of overspending and putting yourself in a bad financial situation. So, if you’re looking for ways to save money on home renovations, you’ve come to the right place!
In this article, we’ll go over 9 ways to save money on home remodeling so you can spend it elsewhere! Let’s get this party started!
1. Accept it Each Room at a Time
It can be tempting to take on a variety of projects throughout your home at the same time. However, complete home remodels can be messy, and attempting to live in a home that has been torn apart can quickly become a nightmare scenario.
A good rule of thumb is to limit yourself to one room at a time. And once you’ve finished renovating that one room, you can move on to the next.
This will not only keep the chaos contained to one small area of your home, but will also allow you to budget more efficiently.
2. Don’t Change the Layout of Your Home
Without a doubt, starting to change the layout of your home is the most expensive thing you can do. The costs of safely removing walls and redesigning your home’s floorplan will quickly add up, so it’s best to avoid this situation entirely.
However, if you are determined to change the layout of a specific area of your home, you can do so; just be aware that you may have to forego other renovations or cut costs in other areas to do so. Going with less expensive flooring or appliances, for example, can help you afford a large kitchen remodel project more comfortably.
3. Save Money Wherever You Can
Continuing on from the previous point, try to identify a few areas where you’re comfortable cutting costs by choosing a less expensive option. Installing laminate flooring instead of hardwood, or refinishing your cabinets rather than replacing them, can often cut your budget in half.
Also, don’t be afraid to take your time and extend a project if necessary. Rome was not built in a day, and neither should your new kitchen.
4. Keep an eye out for scratch and dent sales.
Looking for scratch and dent sales at various stores is a great way to save money on some of those expensive kitchen appliances. Items in the scratch and dent section frequently have little to no visible damage; they’ve simply been removed from their box and can’t be sold at full price any longer.
As a result, you can frequently find really high-end appliances at great prices, allowing you to save money and expand your budget elsewhere.
5. Shop at the Appropriate Time
Another clever way to save money when shopping for expensive items is to choose the best time to do so. Always be on the lookout for sales, the majority of which take place during major holiday weekends.
And what about the junk mail you get from various home improvement stores? Instead of throwing it away right away, take a moment to go through it and see if anything stands out to you. You might be surprised at the type of deals that are currently sitting on your kitchen counter!
6. Synopsis When Developing a Budget
When creating a home renovation budget, it can be tempting to try to underprice items in order to get more bang for your buck. This is not a good idea, and you should instead go in the opposite direction.
Round up your prices on everything and, just to be safe, leave a little wiggle room. That way, if you run into any issues along the way, you’ll be prepared.
7. Try to sell everything you can.
You almost certainly have a plethora of items lying around the house that you need to get rid of. You probably have some items that you no longer need or want, ranging from old toys that the kids no longer play with to pieces of furniture that you’ve grown tired of.
This is why it’s a good idea to sell anything that falls into either category. Even if you only make a few hundred dollars, it is money you did not have before. In addition, you’ll be decluttering your home in the process.
8. Save Money on Decorations
We’ve already discussed resurfacing cabinets rather than replacing them, but that’s not the only way to save money during the remodeling process.
Searching salvage yards for items that can be used in your home can lead to the discovery of some interesting items for next to nothing. Check out websites like Facebook Marketplace and Craigslist to see if there is anything you want or need.
Often, you’ll find nearly-new furniture and various decor items for much lower prices than you would in a store. And any money you save on furniture and decor can be put towards something else!
9. Enlist the Assistance of a Professional You’re the one
Sure, you might be able to save money by tackling a project yourself rather than hiring a contractor. However, if you make a mistake, you will end up spending more money to fix it than you would have if you had hired a professional in the first place.
And the injuries that can result from attempting to do home remodeling projects on your own, particularly if you’re not particularly handy, can be quite costly as well. That is why it is prudent to make the call and enlist the assistance of a professional for any home remodeling project that you do not feel completely comfortable tackling on your own.
Tips for Saving Money on Home Renovations
So there you have it! Those are the 9 home renovation tips that can help you save money while still creating the home of your dreams.
Remember to take it one room at a time and to not overspend your budget. Keep an eye out for sales, look for ways to save money when you can, and shop at the right time of year.
Do you need assistance with a home improvement project? Do you want to talk to a contractor? Contact us right away; we’ll be happy to help!
