There are countless reasons why one would want to renovate their home. Whether it’s to sell the house or give your home a facelift, there’s no denying that renovations often don’t come cheap. It’s easy for the dollars to stack up when making the budget for your home repair. If you’re looking to renovate investment properties, having a costly facelift can be rather detrimental.
Over-capitalizing on your property will make your investment redundant since you won’t be able to recover when you finally sell it. Nevertheless, with some strategic thinking about the layout, materials, and timing of your renovation, you’ll be able to cut down on the costs.
In most cases, the only thing required to make renovations on a budget is appropriate planning. Most of the time, all that is needed is cleaning up, painting, and maybe a few general repairs. Still, there are times when things can get a bit more hands-on, such as when replacing tiled floors with engineered wood flooring. However, things aren’t all doom and gloom for those who’d like to make renovations on a small budget. To help you avoid going bankrupt, here are a few tips on how you can renovate your home on a small budget.
Start Planning Early
Poor time management is one of the main reasons why most renovations end up costing the earth. Contrary to what many people think, small changes in the renovation plans have immense consequences on the entire project. Making decisions and selections early enough gives you more time to tweak the details where necessary. Doing this will enable you to avoid exceeding your budget, especially apropos the cancelation and hiring of professional help. What’s more, schedule differences aren’t the only nightmare you can face if you begin your project without early preparation. Changing the color or materials used in your renovations can also have dire effects on the budget. Therefore, like any other major project, begin planning early for your renovations.
Buying all the materials required from the same supplier seems like the easy choice, but it’s not always the best. Some suppliers may even try luring customers by having deals and promotions. Even so, getting all your supplies from the same place can make you lose out on other available money-saving deals. You can also reap huge savings by getting slightly used fixtures, goods, and other building materials. You can also utilize auctions and garage sales to maximize your cost efficiency. However, you mustn’t compromise on the quality of goods you buy to save a few dollars.
Reuse Old Materials
Many renovations involve demolitions and taking down old structures. Reusing some old building materials still in good shape can do lots of good for your budget. You can also save a lot of money by remodeling some of the different components you’d like to change. Remodeling kitchen cabinets, for instance, is a lot cheaper than buying new ones. Even if your desired results can’t come from repainting and refacing your cabinet doors, you can still replace the doors and leave the rest intact. If you don’t have anything reusable preexisting in your current space, you can get fixtures and other building materials from salvage yards and auctions to save money.
Do It Yourself (DIY) Where Possible
There are several aspects of renovating that you can handle without the help of professional help. Even if you’re not capable of laying down tiles or putting up drywall, you can still do a lot to help make the entire process faster. Usually, renovation crews charge by the hour; thus, the quicker they finish the job, the less it’ll cost you. Doing the demolishing yourself is an excellent way to ensure that your hired help costs as little as possible.
Home renovations can be very cumbersome and trying. The best way to deal with this task is to pace yourself and work within your abilities. Although renovating isn’t a cheap endeavor, the tips above can help you make the most out of the little you have.