Did you know that 5.34 million existing homes were sold in the United States last year? It's safe to assume that a good portion of those were fixer-uppers or homes that need a little bit of love to meet their full potential.
Perhaps you just purchased a house that needs some work. Or maybe you've been in your current home for a while now and just want to give it a facelift. Regardless of the reasoning behind them, home remodeling projects can be a ton of fun while helping you turn your space into the home of your dreams.
But with that excitement of getting one step closer to your dream home comes the fear of overspending and putting yourself in a bad financial situation. So if you're looking for tips on how to save money during the home renovation process, you've come to the right place!
In this article, we'll discuss 9 ways you can cut back on home remodeling costs, allowing you to spend more elsewhere! Now then, let's get started!
1. Take it One Room at a Time
It can be tempting to take on a bunch of different projects throughout your house all at once. But complete home remodels can be messy, and trying to live in a home that's been torn apart can easily turn into a nightmare scenario.
A good rule of thumb is to stick to one room at a time. And once you've completed your renovations in that one room, then you can move on to the next.
This will allow you to not only keep the chaos contained to one small area of your home but will also help you budget more efficiently.
2. Leave Your Home's Layout Alone
Without a doubt, the most expensive thing that you can do to your home is to start modifying its layout. The costs of safely removing walls and redesigning your home's floorplan properly will add up quickly, so it's wise to avoid this situation altogether.
But if you're set on modifying the layout of a particular area of your home, you can still go for it, just know that you may have to skip out on other renovations or cut costs in other places to do so. For instance, going with less expensive flooring or appliances can help you afford a big kitchen remodel project more comfortably.
3. Save Where You Can
Continuing on with that last point, try to find a few areas where you're comfortable cutting costs by going with a cheaper option. Things like installing laminate instead of hardwood, or refinishing your cabinets instead of replacing them, can often cut your budget in half.
Also, don't be afraid to take your time and stretch out a project if you need to. Rome wasn't built in a day, and your new kitchen doesn't need to be, either.
4. Look for Scratch and Dent Sales
A great way to save money on some of those expensive kitchen appliances is to look for scratch and dent sales at various stores. Often times, the items found in the scratch and dent section have little to no visible damage, they've simply been removed from their box and can't be sold at full price anymore.
This means you can often find really high-end appliances at great prices, which can allow you to save money and expand your budget elsewhere.
5. Shop at the Right Time
Another smart way to save money when shopping for expensive items is to pick the right time to actually shop for those items. Always be on the lookout for sales, most of which occur during big holiday weekends.
And that junk mail that you get from various home department stores? Instead of throwing it out right away, take a minute to look through it and see if anything jumps out at you. You might be surprised what kind of deals are sitting on your kitchen counter right now!
6. Round-Up When Making a Budget
When making a home renovation budget, it can be tempting to try and low ball prices for things in order to get more out of that budget. This isn't a good idea, and in fact, you should go the opposite direction.
Round up your prices on everything, and even leave a bit of wiggle room, just to be safe. That way if you run into any problems along the way, you're covered.
7. Sell Everything You Can
Odds are you have a ton of stuff lying around the house that you need to get rid of. From old toys that the kids no longer play with to pieces of furniture that you've grown tired of, you probably own some things you no longer need or want.
That's why it's a good idea to sell everything that fits into either category. Even if you only make a few hundred bucks, that's money you didn't have beforehand. And on top of that, you'll be decluttering your home in the process.
8. Be Thrifty with Your Decor
We've already touched on resurfacing cabinets instead of replacing them, but that's not the only way you can be thrifty during the remodeling process.
Searching salvage yards for things that you can use in your home can lead to you finding some neat stuff that costs next to nothing. Also, check out websites like Facebook Marketplace and Craigslist to see if you can find anything you might want or need.
Oftentimes you'll find almost-new furniture pieces, as well as various decor items, for much lower prices than you would in a store. And all the money you save on furniture and decor is money can put into something else!
9. Let a Professional Help You
Sure, you may be able to save some money tackling a project yourself instead of hiring a contractor. But if you mess something up, you're going to end up spending more money to fix it than you would have if you had hired a professional in the first place.
And the injuries that can come from trying to do home remodeling projects yourself, especially if you're not particularly handy, can be quite costly, too. That's why it's wise to make the call and enlist the help of a professional for any home remodeling project that you don't feel 100% comfortable doing yourself.
Home Renovation Tips for Cutting Costs
Well, there you have it! Those are 9 home renovation tips that can help you cut costs, all while still getting closer to creating the home of your dreams.
Remember, take it one room at a time, and be careful not to overload your budget. Be on the lookout for sales, find ways to save when you can, and shop at the right time of the year.
Looking to get some help with a home remodeling project? Interested in talking with a contractor? Contact us today, we'll be glad to assist you!