5 Ways to Save Money on a Home Renovation

Whether you’re looking to sell your home, make improvements to a property you’re about to move into, or just want to give your abode a much-needed makeover, many homeowners understand the importance of renovations.

Improving your home can be a great way to increase its value, and increase the chances of a sale, but if money is tight and you’re looking for ways to save, here are five tips on how to keep costs down when renovating.

Create a Realistic Budget

If you’ve decided on a home renovation project, one of the best things to do before getting started is to draw up a realistic budget. Whether you are counting every dollar, or you have money to spend, it’s important that you calculate how long you envisage your project will take. The last thing you want is to end up in a ton of debt, so you may benefit from creating a spreadsheet which can add clarity and help you track your monthly income and outgoings.

Once you get an idea of how much you can realistically afford to spend, you can then price materials and fixtures to check whether they will work with your budget. While many homeowners would love to totally transform their property, if you don’t have the funds behind you, it’s best to be wise with your money.

Do It Yourself

If you like a challenge and feel you are capable of doing so, going down the DIY route may be the best option to take. Those who have free time and have experience in renovation projects can save a great deal of money by doing everything themselves. Even if you do need to hire a contractor to carry out the work, there are numerous tasks that you may want to do yourself, such as painting.

YouTube is a great platform which is filled with step by step tutorials on home renovations and remodeling projects which can guide you through the process. For those who don’t feel confident going it alone, the last thing you want is to cause damage, so hiring a professional may be best.

Choose the Best Building Materials

One of the areas that you should not cut corners on is building materials. If you don’t have much money to spend, you may be more inclined to pick out cheap materials. However, the low cost tends to be because of their substandard quality. No one wants to run into problems later down the line, whether it’s with materials not working like you envisaged, or products failing and needing more regular maintenance.

In order for you to be confident with your materials, it’s advised to speak with a contractor who can give advice on what types of materials to use. If you have any family and friends who have recently undertaken a renovation project, they can be a great source of advice too.

Shop Online for Deals and Coupons

Rather than going out in person to buy products, shopping online can be a great way to save money. If you leave shopping until the night before your renovation project starts, it’s likely you will end up paying more. Doing your research and looking for the best deals online can help keep costs down. It’s a good idea to look for coupons for websites like Lowes too. Using Lowes coupons can help you get up to 55% off materials and items for your home renovation project. There are also seasonal sales that you should take advantage, as these often see top of the range products sold at a reduced price. As long as you know where to look online, there are lots of opportunities to cut costs.

Take Your Time

Once you have your heart set on a home renovation project, it’s only natural that you will want it to be completed as quickly as possible. Depending on the size of the project, the whole process could take weeks, months, or even years to be finished. Instead of cutting corners, it’s best to be patient and take your time. If you would like to carry out a whole home renovation, it’s best to start with one or two rooms initially.
Many homeowners find it hard to finish a project before putting their focus onto another area. If you do things too quickly, you run the risk of problems occurring later down the line, which can be expensive to fix. To ensure everything is done above board, and for peace of mind, taking things slow and remaining in control of the project is important.

Whether you’re planning to upgrade your kitchen, create an extra bedroom, or install a new bathroom, a home renovation project will require a lot of your time, money, and patience. To keep costs to a minimum, follow the tips above.