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This is a collaborative post. All opinions are my own.
If you’re building a house, adding an extension, or renovating some area of your home, there is a lot of work—and money—involved. Just the thought of it can be overwhelming. Not surprisingly, one of the biggest factors that holds people back when it comes to renovations is the cost. Achieving your ideal space rarely comes cheap. From the planning stage to polishing off the finishing touches, it can be difficult to keep the costs down. And a rising renovation bill can be overwhelming, leading to unfinished work or an unsatisfactory end product. The good news is that home renovation on a budget is possible! The first step is to realize that you will have to compromise on something. But that doesn’t mean you can’t end up with an end result that you love! Here are twelve money-saving tips when you’re renovating on a budget.
1. Plan, plan, and plan some more
Saving money is all about finding little ways to cut costs. So it’s important to be organized and plan out every single stage of the renovation.
Create a timeline of the project and take note of when each stage is set to take place. Write action lists detailing what needs to be done and organize them in terms of priority. Once your plan is in place, you can be more precise with your budget and spending strategy.
Remember to consider all the possible disruptions you’ll encounter. For example, if you’re carrying out a kitchen renovation, have a plan to pre-prepare meals that an be made on a grill, hot plate, or crockpot, so that you’re not scrambling and eating out every night.
Work through your plan and re-evaluate if necessary.
2. Get multiple quotes
If your goal is to save money, then you have to go the extra mile to reach it. This means shopping around and getting multiple quotes for the work. Although you might think you’ve been quoted a good price, you’d be surprised at your bargaining power when getting another quote.
Getting multiple quotes for each stage of the renovation can save you hundreds, if not thousands on your build.
Aim to get at least three quotes per job. Research and read reviews of the service providers’ previous work. Make sure to note that the cheapest quote isn’t always the best option. Weigh up all things before making your decisions.
3. Hire the right people
Hiring the right people to carry out your home improvement work is critical to your budget and he success of your project overall. Not only do they need to have the skill and ability to complete the job, but it’s also crucial that you can communicate effectively with them.
An obvious route is to hire the best-in-class for each aspect of your renovation. However, this can drive up your costs significantly. By doing some extra research on what people to hire, you can save a lot of money.
Instead of hiring an expensive carpenter or bricklayer, consider using a handyman to cater to some of the more straightforward jobs.
4. Re-use and re-cycle
Save money on expensive new items by finding alternative uses for products that you already own. Second-hand materials are also cheaper options to consider.
Be careful what you re-use. Some materials shouldn’t be used twice, particularly if they’re important to the structural integrity of the building.
Re-using and re-cycling are often best suited to design and home interiors. The online marketplace has never been more ideal for buying secondhand.
5. Look to seasonal sales for future planning
Seasonal sales are often the best opportunities to make major purchases. At certain times of the year, companies hold large sales, offering huge discounts on all products. In most cases, these sales occur every season.
If you’re well organized and have planned ahead, you should look to these sales to get bargains. Hardware and furniture stores generally put out their offers ahead of time, giving you further opportunities to strike good deals.
Ensure that you’re aware of the regular price of the sale items before committing to the purchase.
6. Consider taking a DIY approach
By taking on some of the work yourself, you can save a lot of money. DIY projects can also be enjoyable, as well as satisfying. There’s nothing quite like seeing your very own hard work come to life in front of your eyes.
If there is no major time pressure, make sure that you take things slowly to ensure that a good job is done. While DIY projects can turn out great, they can also quickly turn into a disaster. Don’t attempt something that you don’t have the tools, skills, or knowledge to complete. Construction and DIY can be dangerous.
For a lot of people, painting, demolition, and other basic work will be the limit, while others will be able to handle more complex duties. However, when it comes to crafts such as plumbing, gas, and electrical work, it’s advisable to hire professionals.
7. Focus on sustainability
Renovating provides you with the perfect opportunity to create a more sustainable home. Although laying the foundations for a sustainable household can require higher up-front costs, the long-term savings can be significant.
If you have the means, consider installing some renewable energy systems. If this simply isn’t an option, perhaps a smaller scale approach will suit better. Start to switch out old energy-sapping appliances with more sustainable versions. These will give you significant savings on your energy bills and are becoming much more affordable.
8. Know when to splurge
When you’re adhering to a tight budget, you can get stuck in the mindset of paying the least amount possible for every aspect of your renovation. While this is a positive when it comes to saving money, there are times when you should fork out a little extra cash.
For things that affect the safety of you and your family, it’s vital to pay the necessary costs to ensure a good job is done. Electricity, plumbing, and structural work are potential health hazards. You must not compromise when it comes to these areas. Hire a qualified and skilled professional to handle this type of work.
In addition, there are cosmetic things where splurging a little on a higher end product can really make a difference visually. For example, if you’re already hiring someone to tile a backsplash, the labor costs are probably the biggest expense. Going for a more expensive tile that you love won’t add a huge bump in cost...but it could make your kitchen feel way more fancy than the basic subway tile.
9. Invest in time over money
When it comes to saving, there is generally a trade-off between your time and money. If you want to save time, you must be willing to pay extra. For example, paying an additional cost for fast delivery. However, if you want to save money, you must be willing to invest your time into the project.
By dedicating the majority of your spare time to your renovation project you can save a lot of money. In your spare time, you can research suppliers, supplies, and renovations online. You can also shop around and use your time to find the best deals available. If you want to get hands-on, you can help out on-site and carry out basic tasks that need to be done.
10. Choose value over cheap
Although you’re trying to save money during the renovation, the main priority should be to create the best possible home improvement project within your budget. This doesn’t mean creating the cheapest renovation imaginable.
When making purchasing and hiring decisions, opt for good value over cheap. Cheap items are often more expensive in the long term. Underpaying for renovation work often leads to additional work being necessary down the line.
Find a balance between good work and price, and prioritize excellent value rather than low cost.
11. Create space with light
Many renovation projects are carried out with the intention of creating more space. While this may be necessary for small rooms, natural light often increases the perceived space in an area. Instead of paying extortionate construction costs to extend the size of your home, look to more strategic ways of creating space.
Skylights, large windows, bay windows, or double doors can work wonders in letting additional light into a room. Mirrors are effective in dispersing natural light around a room and can give it more depth.
Remember that a larger room doesn’t always equate to an increase of perceived space.
12. Focus on the smaller details
To make a house a home, it’s important to add features that align with your personality. Avoid getting caught up in expensive home trends that don’t add true character to your living space. Focus on the smaller details to achieve your dream home. Avoid splashing out on expensive and unnecessary items that won’t benefit your space.
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Great tips for those looking to renovate their homes. It's pretty popular to do these days, especially since COVID has most people stuck indoors. Good insight for those on budgets, too.
Finding your blog feels like I just hit jackpot. Thank you for sharing this great information. It is informative and it makes perfect sense.
A very well said information about re-use and re-cycle. It is definitely true that re-using and re-cycling are often best suited to design and home interiors.
Keep on sharing.
You know what they say, knowledge is power. I’m really glad you took the time to share this article with us - it was a great read!
Great Tips! Your tips are very helpful. Thanks a lot for sharing.
We are very thankful for all your ideas and for sharing them to all your readers. Keep it up and we will continue to support your web posts.
Ordinarily, I don't leave comments on blogs, but your article is so convincing that I can't stop myself to say something about it.
There's nothing wrong with Home renovation. However, it may be time for renovating your home. Here are the best suggestions for making your modern home more stylish and surprising, this article is helpful for me.
Great tips Aileen! Thanks for sharing these useful ideas!
that's the great content.. thanks for sharing such wonderful money saving tips about renovating house.
The different methods have been shared for home renovation in this article. You can adopts this method for improving the look of the home. You can use floor tiles for this purpose.
These are some great tips. I especially love the DIY one. My husband and I tend to hire out everything, but it's fun being able to do some things yourself! We redid our kitchen this summer and I'm proud to say we did everything ourselves except for refinishing our cabinets! (that's something we didn't feel confident about doing) Renovations are fun! You just gotta stay positive!
Such an informative article just to add here, with loft extension and loft conversion in London, you will add more space to your home, which will help you make the most of your property. People are always looking for more space, new and bigger houses to rent or buy. If you wish to increase the value of your property without spending a lot, then loft extension and loft conversion in London will be the right choice. This will increase the square footage of your home, which means more space, increasing property value. A carefully extended or converted loft can make your home look more livable and more admirable.
This is really neat! I loved your article and how it's packed with practical tips like planning thoroughly and reusing materials to save money. Thank you for sharing these 😊 Definitely worth a read if you’re looking to spruce up your home without breaking the bank!
Actually, your tip on keeping an eye for seasonal sales is so relatable. Wickerpark Patio Furniture is currently having a major summer sale. Highly encourage those wanting to upgrade their backyard and patio to check them out here: https://wickerpark.ca/collections/toronto-patio-furniture