Renovating your home can be really exciting and scary all at the same time. You want your place to look absolutely amazing with the best online cabinets, the top energy-efficient appliances, and attractive fixtures, rugs, and the whole nine yards. But you do not want or need to spend a small fortune to make your abode look its best.
It doesn’t really matter if you have a large budget or a tiny one, because paying for home renovations can get out of hand very quickly if you aren’t paying attention. But it’s certainly possible to renovate your home so it’s absolutely perfect and still save money in the process.
How do you accomplish this nearly impossible task? Well, to make it possible we recommend learning our five favorite ways to save money on a home renovation. We’ll tell you all about them and more below so stick around to discover the truth.
- Design a Money Saving Budget and Stick with It
Before you can even consider picking your specific home renovations, you’ll need to set a budget ahead of time to determine exactly how much you can afford. Otherwise you could seriously set yourself up for big trouble and end up spending a lot more money than you actually have on hand. This would create major problems for you and the company you hire to perform these renovations when they find out you ran out of money to pay them.
So, just because you’re creating a budget doesn’t mean you have to set aside as little money as possible. If you have extra money available, then by all means add it to your budget as long as you can comfortably afford to pay to fix these things without breaking the bank.
No matter what, by setting a budget you’ll be able to save money because you’ll restrain yourself from spending too much. So determine how much you have available for your renovations and always stick to that number and never go over. Going over is how people end up spending a lot more than they really should and we’d like to help you avoid that at all costs.
- Pay Cash for Your Home Renovations
Guess what? Contractors love getting paid in cash for one simple reason: they do not have to report the money to the IRS; even though they are technically supposed to they can get away with it when cash is involved.
So, a quick and easy way to save money on your home renovations is to offer to pay cash in exchange for a discount. Many contractors will jump at the chance to take your job and even offer you anywhere from a 10% to 20% discount because of your willingness to give them cash in lieu of a personal check or credit card payment.
- Do Not Rush through the Renovating Process
It’s very tempting to want to rush through your home renovations just to get them out of the way. Plus, you want your home to look its absolute best so you’re desperate to get everything done so your place looks truly amazing.
Guess what? It’s going to take time and effort when performing a home renovation. This is especially true if you plan on remodeling your entire home. You have no need to rush through the process to get everything finished quickly. Instead, focus on a room or two at a time and get them looking absolutely perfect and up to snuff. Then move on to other areas of your home and begin fixing them next.
- DIY, Anyone?
Are you a natural born handyman or handywoman? Maybe instead of paying a contractor top dollar to fix up your home you might want to consider making the renovations yourself.
Yes, they are going to be time-consuming and it’s going to be a lot of hard work. But if you’re willing to put in the effort, you could literally save tens of thousands of dollars by performing these renovations on your own or with the help of your friends and family members.
- Purchase a Mixture of Low-End Materials and High-End Materials
To really save money, your best bet is to buy some low-end materials and some high-end materials and balance them out. Why? Some areas of the home just don’t need top-of-the-line material. It just isn’t going to make your home look any better.
On the other hand, certain areas of the home will require high-end materials to make it look beautiful. As an example, instead of using cheap and unattractive Formica countertops, you’ll get more bang for your buck installing marble countertops in its place.
You can definitely see that it’s possible to save money on a home renovation. We’ve shared some excellent tips with you today to make it happen. Please use our recommendations. You’ll find it easier than ever to fix up your home without putting yourself in the poorhouse.