Remodeling doesn’t have to be expensive. Whether you are a first-time homebuyer, have lived in your home for years, or are an investor with multiple properties, you can make updates without breaking the bank. In this article, we’ll share seven tips to help you save money when remodeling.
Don’t Change the Plumbing System
If you’re planning to renovate your bathroom, you can save a significant amount of money by keeping your original plumbing points. Make updates to the main features, but keep your fixtures in the same locations. Moving them will be both time-consuming and costly. The same advice applies to kitchen and laundry plumbing components as well.
Work Within Your Budget
Make a plan for your project and stay on task. When hiring a contractor, get at least three estimates. Set a budget for each individual project and tackle one improvement at a time. This makes it easier to keep track of costs. It’s smart to plan an additional 10% for expenses, in case a fixture costs more than expected or material prices go up.
Choose Materials Carefully to Save Money When Remodeling
Opting for a less expensive material is a simple way to save money when remodeling. The kitchen and bathroom are excellent spots to trade high-end materials for lower-cost options. Tile flooring can be pricey, but less expensive vinyl also looks great and will save you money on the project. Use more expensive materials carefully and intentionally, such as in areas where you want to make a statement.
Pay Attention to Details
When working with your contractor, make sure your design is as detailed as possible to avoid hidden costs later. Be prepared for unexpected difficulties with plumbing, roofing, and draining that might cause costly delays. Stay focused in your communications with the contractor to understand what you are getting for the price.
Plan Your Work During the Off-Season to Save Money When Remodeling
When it comes to home renovation, many projects are scheduled to be completed in the spring and summer, when the weather is nice. However, if you’re willing to alter your renovation timetable to save money, consider scheduling the project in the off-season. Contractors need work all year round. If you give them a project when they would not otherwise be busy, you improve your chances of getting a reasonable quote and timeline for completion.
Consider Second-Hand Items
Mix up new, high-end pieces with cheaper finds. You may be able to save on furniture and appliances by asking about floor stock and factory seconds at the store. Many times new items will be marked down for minor dents or scratches that are easily hidden. For unique finds, check thrift shops and consignment stores. You’ll often save over 50% off the price compared to purchasing new items.
Refurbish and Reuse to Save Money When Remodeling
Renovations don’t have to mean starting from scratch. Before you purchase new items, see if anything in your home can be refurbished. It’s simple to refinish cabinets or update a chest of drawers to look new and modern. Repair broken items with resin glue and clamps available at your local hardware store.