Ways to Save Money When Renovating Your Home
According to the Home Improvement Research Institute (“HIRI”), the home improvement industry is worth a staggering $220 billion annually.
But that doesn’t mean you have to give the industry all of your money.
Here are some money-saving tips to consider while planning your next renovation project.
If you are needing some inspiration for home renovation ideas, let’s start there.
Set a Budget
Yes, budgets are boring, but stay with us. A carefully planned budget just may save you money in the long run.
Decide on the necessary renovations and prioritize them. Tackle the most important or impactful ones first.
Decide on the dollar amount you’re willing to spend on your project before you begin to make design selections.
And while you’re at it, add a contingency fund for unexpected costs and expect to use it. Some experts recommend reserving 5 to 10% of your total budget for unexpected costs.
Sell Unwanted Stuff
Make some money while you’re renovating! Is there some “stuff” you could do without, that could be repurposed or refreshed? Sell fixtures and materials that you no longer need. This can offset some of the costs of the renovation.
“DIY” The Easy Stuff
You’re probably handier than you give yourself credit.
Change the door handles and install the shelves yourself, too. Find small, easy stuff that you know you can do.
Shave off a few dollars here and there by doing some of the demo work yourself. Talk with your contractor to see if he or she is willing to let you do some of the demolition as well as haul-away in an effort to save some money.
Do Your Own Painting
Using a little elbow grease is the way to go if you’re looking to save money on a home or room renovation, as long as the job is manageable for you. Painting an average-sized room yourself may cost you around $100. A professional painter, depending on where you live, may charge $500 or more for supplies and labor to paint the same room.
Shop Sales and Discounts
Keep an eye out for sales, discounts, or clearance events at home improvement stores. Shopping during the holiday season or at the end of a season can often result in savings, instead of doing renovations in the middle of “renovation season.”
Save On Cabinets
The largest cost investment during a kitchen remodel is typically the cabinetry. It’s such a large expense that most homeowners budget 25% of their total budget towards cabinets. But there are ways to save. If you’re buying new cabinets, consider installing them yourself. Or use open shelving for glasses, plates, and bowls in lieu of upper cabinets.
Reuse, Repurpose, Recycle
A fun and useful cost-saving idea is to hit up resale shops for lighting fixtures and more. Re-Store by Habitat for Humanity is a goldmine for reusable items including doors, hardware, and more. It’s also important to salvage what you can from the room that is being remodeled. Try to save the original trim or flooring or refinish the kitchen cabinets instead of replacing them. And, don’t forget to recycle or donate any old items that are still in good condition.
Shop Closeouts and Floor Models
Shopping closeouts and floor models may seem like a cost-effective way to save on a remodel but use caution. You don’t want to purchase a centerpiece item, like a refrigerator, that has a large dent on the front. But, if the dent is on the side of the fridge and will be covered up by a wall, well that’s a bargain.
Don’t Paint It, Stain It
So you own a brick home but the brick color – while popular in the 1970s – is not so attractive today. Besides replacing it – an option that comes with a very hefty price tag – what are your options?
You could paint it, but painted masonry comes with ongoing required maintenance and will begin to chip and peel in as little as three to five years.
The best option is to have it professionally stained.
Contrary to paint, brick stain penetrates brick surfaces and keeps your brick as healthy and new as can be. Staining brick offers a natural look, with less maintenance than paint. It can be more cost-effective in the long run as it won’t peel or chip like paint.
BrickImaging is the oldest brick staining firm in North America and has been updating the color of existing masonry for 45 years. If you’re looking to save money on home renovations, making your brick last as long as possible by staining it is one of the best ways.
BrickImaging will make sure you best know how to save money on home renovations by keeping your brick look as good as new, saving you money in the long run.
