One of the first things you do when planning a home renovation project is decide how much money you can spend on the project. Staying on a budget becomes a very big focus from the start. There are ways to save on your home renovation project that will keep you on budget and may help you to save some money. These five ways can help you to save on your home renovation project.
Do Some of the Prep Work Yourself
A big chunk of your budget can be conserved if you’re willing to put in some sweat equity. If you roll up your sleeves and manage the prep work yourself, you will easily keep your budget intact and enjoy some savings.
You can also do some of the work after the project is complete. For instance, hiring a roll off container rental in your area can be much more affordable than hiring a full-service cleaning company, as long as you’re willing to get stuck in and tidy up. You won’t need to worry about emptying or transporting the dumpster afterward, either.
Is it worth the savings? According to the experts, you can save thousands of dollars in costs by doing the prep work yourself. Of course, you do want to take precautions and work closely with your contractor to ensure that you are doing the right prep work.
According to Houzz, about 58% of homeowners did some form of renovation to their home in 2017, spending an average of $15,000. Many of those homeowners, in the interest of saving money and staying on track with their budget, did part of the work themselves. Sweat equity is a great way to save.
Choose Midgrade Materials Instead of High End Luxe Materials
You do not want to sacrifice quality when you are trying to stay on budget with your home renovation project, but you also do not want to go over the top with material costs. For example, you may have visions of marble countertops throughout the kitchen and bathrooms, but the fact is, granite can get the job done just as nicely with significant savings.
Many homeowners think that if you pay more, you get more. The fact is, sometimes paying more for materials is just paying more for materials. In many cases, the midgrade materials are the better option. Be flexible when it comes to the materials you purchase for the project. If you’re considering flooring materials, exploring options from companies like National Floors Direct can help, as they offer a variety of designs to suit any budget while maintaining quality and style.
Cut Some of the Unnecessary Steps Out of the Project
According to ISBS, the interior design industry earns about $10 billion each year. A lot of this money is made working with residential clients on small projects. Speaking to one may be a good idea if you’re looking to optimize your plan down to the makeover essentials.
Additionally, look to online resources on your own to help choose color palettes, window treatments, flooring, and other design features. This is absolutely a part of the project where you can cut costs if you take some initiative. Bedroom furniture alone generated worldwide about $127 billion in 2021, according to ISBS. How much do you want to spend on yours? You can stay on budget and save if you make informed interior design choices.
Don’t Skimp in This Area
It’s okay to cut corners in plenty of areas of your home renovation project to save, but you never want to cut corners when you are choosing a contractor. Why? Because, in the end, it will cost you more money. Saving money on your home renovation project, in the long run, may mean spending a little more on hiring a certified and licensed contractor for part or all of the project.
Final Way to Save Money on Your Home Renovation Project
One of the best ways to stay on budget and save money with a home renovation project is through proper planning. Planning each stage of the renovation will help you to find ways to save. Planning will also keep you on task and alert you if you are nearing a budget threshold.
You should never pay more than you have to. Look for more ways to save on your home renovation project and get the job done for less.