Renovating your house can be an exciting decision and a great investment. But just like other investments, going in unprepared and without a game plan can leave you frustrated, overwhelmed and over budget. If you’re wanting to renovate, but also looking for ways to stay on your budget, here are a few cost-saving tips from us to you.
Make a Plan & Stick to It
Before the renovation starts, take the time to put a plan in place that fits within your budget. Be honest with yourself about what your budget will allow. Find creative ways to fit what you want within that budget. Talk to your contractor about your budget and ask their advice for ways to best use the funds you have. Then, stick to your plan! Otherwise, a change here, a bit more spent there, and soon you’ll be over budget.
Work Within Your Existing Space
Regardless of renovating your kitchen, bathroom or basement, creating a layout that fits well with the blueprint of your existing space is going to save you money. If a structural wall needs to be removed, it is going to add a lot of time, resources and likely an engineer to ensure structural integrity moving forward.
Moving plumbing fixtures or electrical outlets can also lead to a lot more expense and time spent with an electrician or plumber. Drywall will likely need to be removed for access, adding time and material costs. While there may be some fixtures and outlets that do need to be moved, the more that can be left as is, the better.
Be Patient & Shop Around
Just because you hired a contractor, does not mean you are forced to hand over the purchasing of all appliances and fixtures to them. When you meet to go over the plans, let your contractor know if you want to do some of the shopping yourself. Give yourself enough time to shop around at different places and hunt for the best bargains. Saving a bit on each fixture or appliance will add up over the course of the whole project.
Think Long Term
A renovation is an investment. You are not only investing in your future by gaining a new kitchen/bathroom/basement that you will use every day, but you are also investing in the future value of your home.
With this is mind, allow yourself to think long term, while thinking through what to spend and where to cut costs. By being willing to spend a little more now, you could end up increasing the value of your house, giving you a much bigger overall return on your investment.
Want More Cost Saving Tips for Your Specific Renovation?
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