Saving money on home renovations doesn’t necessarily mean that you need to scrimp on the essentials or settle for below-par work. Almost every stage of every project offers opportunities for you to save. If you plan out your project properly, you can reduce non-essential expenditures and enjoy the savings on everything from an extra furnishing purchase to an Intertops casino bonus gaming event.
As you move through the renovation process, be sure that you keep track of each and every expense so at the end of the project, you can see just exactly how much money you saved.
DIY How To Save Money On Home Renovation
The Do It Yourself phase of renovation money-management comes in two phases – when to do something yourself and when you admit that it’s time to have a professional take over.
It makes sense to do as much of the project as you can by yourself. You don’t have to be certified or talented to plaster or paint a wall. Even if you’re unsure of your abilities, you can always watch a few YouTubes for tips on how to do a professional-looking job. If you’re adventurous, you can take it a bit further – laying tile, varnishing wood and even wall-papering takes only a little know-how and a little self-confidence.
There are obviously things for which you must call in professionals but even here, you can save money by saving them time. Gather the materials and prep the work space beforehand so the crew can get right to work once they arrive. Prepare surfaces (skim-coat walls, scrape mastic on the floor, lay newspaper below the work space, etc) to stay ahead of the game.
By the way, if you’re going to try to learn some new skills from YouTube but are deterred because you don’t have the right tools, speak to your local home center – many of these stores allow you to rent tools so you don’t have to make big purchases for a few days of work.
Finally, remember that there are some tasks – electrical work especially – for which you must be licensed. There might be other tasks for which you need a permit and must have the site inspected when the work is finished. Don’t scrimp on those requirements because failing to adhere to the law can cost you dearly in the long run.
It’s always best to avoid going into debt for a purchase but that’s even more true when you’re spending a lot of money on a home renovation. Simply put, you pay interest on a loan, even on money that you put on your credit card. Save up the funds to do your renovation before you start and use the savings to treat yourself.
It’s good to have credit or a loan for a back-up plan (if your project goes over budget or if you have a sudden additional expense but you shouldn’t rely on that loan or credit for the bulk of the work.
You can also use rewards credit cards to pay for your budgeted purchases. Pay off the card immediately so that the money that you save from interest on the card can go directly into your pocket.
You’d be surprised at how many materials and appliances you can recycle during your renovation project. If something is no good, get rid of it. But if it’s…