Log in

How to Save Money Renovating Your Home


By Jane Lucas

Anyone looking to renovate a home has two primary things to contend with; budget size and the remodel design. If you have an unlimited budget, then you’re much closer to accomplishing your remodeling design plan. This is mostly not the case as the average U.S. home renovation costs between $100,000 and $200,000. Completing a full home renovation isn't a small undertaking, but homeowners are guaranteed less expensive remodeling with the right preparation and planning. Want to know how? Here are five great ways to achieve this.

Pay everything in cash

As simple as this may sound, paying cash for your project is vital to saving yourself tons of money instead of going for a loan or making payments using your credit card to settle later. If you’re renovating your home to sell soon after, it may be financially advisable to apply for a new credit line when you know there’ll be a profit from your investment and immediately pay off the advance. Regardless, the smart approach is to pay for everything in cash. If your present finances can't cater to the remodeling, you should begin looking for ways to manage your family spending to save some money for your undertaking.

Build a budget and stick to it

The term ‘budget’ is mostly mistaken for cheap, which should not be the case. If you’re going to spend money undertaking any project, it’s practical to understand how much you have and intend to pay. Failing to set a financial plan for your home renovation is one of the major mistakes by homeowners. Without the budget, you’re more likely to spend more than you intended. Therefore, it’s essential to determine how much you can afford to pay and create an appropriate design to match your remodel project.

If you’re good with numbers or have an accounting background, this shouldn't be difficult to complete. There are other architecture firms you can consider to guide you through the entire process.

Avoid big purchases until items go on sale

If you’re remodeling places like your kitchen and intend to bring in new appliances, it’s always recommended to wait until they go on sale. While time constraints may limit you, why not plan or wait until the next big promotional deal and make your purchases. It’ll save you so much cash to make use of such excellent opportunities.

Roll up your sleeves

If you’re thinking about saving cost, then think DIY. Regardless of your skillset, there’s a thing or two you can do yourself without having to spend cash hiring another person. Is it drywall you need to put up? Or are you capable of laying tile? There are a lot more things you can do to prepare your home before the renovation crew arrives. Instead of paying a crew member hourly to clean up, demo your space, clean surfaces, or paint, these aren’t jobs you need top-notch skilled labor for. If you find something high above your skill set, there’s a thing called YouTube University that’ll come in very handy.

Budget, DIY, home, Ideas, Pay Cash, Renovation, sales, tips


No comments on this item Please log in to comment by clicking here