If you are unsatisfied with aspects of your home, a remodel is less expensive than moving to a new house. However, it can still be very expensive. If you’re trying to get the home of your dreams without moving out of your current one, you can still do so on a budget. Follow these five tips in order to save money during your remodel.
Create a Budget
It is easy to get carried away during your renovations and end up spending significantly more money than you planned to. In fact, a 2017 survey shows that 42% of homeowners decided to invest in more expensive furniture when renovations were already underway. These expenses build up very quickly. This is why it is so important that you set a budget before you do anything else. Once you know how much money you have to spend, you can make a realistic plan for your renovations. If you don’t plan your finances and just tell yourself that you’ll do it cheaply, you’ll end up spending much more money than you planned.
Do One Room at a Time
Did you know that 35% of remodeling jobs include the entire house? And while this can be a great way to get your desired results quickly, it also costs a lot of money. One way to save money on your home remodel is to do it one room at a time. This way, you’re only doing what you can finance at the time. While this will take longer than tackling the whole house at once, it will allow you to save up between projects. It will also allow you to take breaks if money gets tight without worrying about part of your home still being under construction. So if you’re working on a budget, prioritize which rooms you want to do first. This will guarantee that you get what you want the most; then, you can focus on everything else as you have the money.
DIY What You Can
While you should bring in a contractor for things that require specialized training, there are parts of your remodel you can do yourself in order to save money. Things like painting and certain installations are safe to do yourself as long as you know what you’re doing. This will prevent you from needing to hire an expensive crew. So, while you need to hire electricians or plumbers, you might be able to do some of the other work yourself. You’ll then have more money to finance the parts that need a professional.
Purchase Secondhand
Buying used furniture and appliances can also save you money during your renovations. You can often find things that are in good condition, but selling for a fraction of the price. This will require research and patience on your part, but it can save you a lot. If you’re doing your kitchen, cabinets generally make up 40-50% of your costs. Buying them used will bring that cost down significantly.
Hire Trusted Contractors
If you have to use contractors, make sure that you bring in someone that will do the job correctly. An untrustworthy contractor might charge you too much, do poor work, or not finish the job at all. To find a contractor, ask people you know for recommendations. If someone refers you to their plumber or electrician, you’re more likely to get a good result. This will prevent you from overpaying or needing to pay to correct faulty work.
Remodeling on a budget is very possible. It just takes patience. Research your options, consider secondhand and DIY, and stick to your budget. You’ll find that you can get gorgeous results for a fraction of what you might have paid if you weren’t focused on saving money.
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