Many homeowners want to renovate their homes into great living spaces to either rent or resell, but many fear the costs are too high. That worry is partly true because the cost of materials, labor and other costs is increasing and homeowners cannot control the resulting costs. However, with the right method, home renovation is no longer a worry but an interesting project that brings many benefits. Here are some tips on planning, design, materials and timing that will help you cut costs without sacrificing your home’s aesthetics.
Detailed plan
Planning your Renovation project in detail is a great way to save your money. In the plan, you list and optimize the work that needs to be renovated.
Budget
Before starting your home renovation project, create a detailed budget. You should have a spreadsheet file that lists all costs from the job category. This cost includes: dismantling, permits, wages, equipment, materials and furniture. You should also add 10-15% to your contingency budget.
Needed design
You should hire architects and engineers to design 2D and 3D plans, lists of work and materials so you can visualize the results as well as accurately estimate the exact tasks and costs. By following the design you can avoid impulsive moments that can increase costs significantly.
Get a license
Applying for a license helps you get government approval as well as avoid future problems.
Know your limits
Online home renovation programs have inspired many people to do it themselves. DIY enthusiasts can often save money by practicing and feel a sense of pride and accomplishment once the project is complete. If you don’t have the knowledge, skills, experience and tools, there’s a high chance you won’t be able to do it or will damage things and even endanger your health.
Hire experts
In theory, doing it yourself will save you some money, but in reality it doesn’t. The possibility of damaging something is very high and numerous, especially with complex and dangerous jobs such as electricity, water, gas, heating…,. You will then have to spend more money to repair it than if you hired a professional in the first place. In fact, redoing costs the homeowner a lot of money (materials and labor) as well as time. Some damaged items may not be recoverable.
Self-painted
Painting your house yourself is not too difficult and will help you save significant money. All you need to pay is the paint and materials.
Repaint your floors
Your hardwood floor may be old but the quality is still good, repaint it instead of new. The job is also quite simple: sand the floor, then apply a coat or two of finishing paint.
Renovation in winter
Winter tends to be a low-work season for contractors, so you may be able to negotiate lower rates. Retailers also tend to sell more during the winter months, so you can find better deals on building materials and appliances.
Limit movement of water systems
Moving the system costs a lot of materials and labor. Therefore, try to keep the water system intact, if any, try to limit the distance of the pipes.
Increase space efficiency
Expanding the existing area will be very expensive, instead you need to increase the efficiency of space use. Taking advantage of corners to make cabinets, placing cabinets on the wall, raising the height of cabinets to reach the ceiling, etc. is one of the ways to save space.
Long term investment
Some items may be expensive at first but save money in the long run, such as LED lighting systems, increased insulation, solar lighting, induction cookers…
Share bills with neighbors
You will save a lot of money by convincing your neighbors to do a project together, such as building a fence between two houses or cutting down a tree between two houses.
Reuse materials
You can easily paint your cabinets for a new look or use those fixtures elsewhere.
Amazon Warehouse
Amazon Warehouse sells used or open box products at low prices. You need to carefully review the products and buy from Amazon Warehouse. It will help you save significant costs.
Price matching
Searching for models with the same model name on different online sales platforms will help you save significant costs.
Find good deals
You can find great prices at display or clearance products and unboxing products at local retailers.
Choose cost-effective materials
Many manufacturers always say good things about their products, but you should be alert and choose the right material. For example, marble is praised as luxurious, but the material and installation costs are very expensive, and during use, it can easily be scratched and broken. Meanwhile, quartz stone has a much lower price and is more durable than marble.
Shop during promotional season
There are better times of year to buy some big-ticket items, such as Black Friday for electronics and power tools, and late summer for outdoor furniture and other items. Lawn care items. Research the best time to buy and don’t let impatience keep you from getting a great deal.
Shopping at a construction materials supplier
You try to find local construction material stores. To compete with major retail brands, distributors often sell at lower prices. You can find what you need at these stores, if not enough then buy at large, branded stores.
Attention to detail and accuracy
The more detailed your design, the better the cost management. Light switches, sockets, cabinets and windows are placed exactly where you want them, if relocating will incur additional costs.
Sell everything you can
Instead of getting rid of everything, you can sell your old items. Even if you only make a few hundred dollars, that’s still money you didn’t have before. And best of all, you’ll clean your house and save money on trash disposal.
Pay cash
It sounds a bit unreasonable, but by paying in money, you can see the amount of money spent daily to control costs most effectively. When you spend with a credit card, you are more likely to go over your budget.
Conclusion
To save some money when renovating, you must have a good budget plan, hire staff, shop for construction, and monitor the progress. Accurate planning, smooth execution by skilled people (if you do it yourself, you need to do what you know or not be too complicated) and good control of the execution process (work, time and costs) then renovating your home becomes a great and effective project.
