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Renovating a house can be costly. In fact, it is very likely that it becomes the most expensive project you ever undertake, with most people spending more than their original budgets. Regardless of whether you wish to update your home’s exterior or you are just creating an extension, you should always remain prudent when budgeting. There are numerous ways, however, that you can implement to avoid overspending. Read the guide below to understand ways through which you may cut costs.
- Avoid Making Costly Design Changes
To save money while remodeling your home, think carefully before you settle on costly design alterations. If you have been planning on changes to save money and want to make significant changes to improve your home’s energy efficiency, this might be a good time to think about solar power for homes. Alterations on your home will include moving the electrical, gas, and plumbing lines and can lead to more costs given the additional supplies and labor required. It’s good to keep in mind these extra costs and figure them into your remodeling budget.
For instance, if your kitchen space has a functional layout that works well, try to maintain it. Keeping the sink where it was before enables you to save costs of rerouting the plumbing lines. Once you make a big design change, try as much as possible to stick to it. Any changes you make will increase your overall expenditure because it means that more supplies and labor input will be required.
- Plan your Renovation
Proper planning and budgeting your renovation expenditure is essential. For example, it is important to determine whether most funds will be used to renovate the structural standing of the property, or on internal fittings and fixtures.
It is always cheaper to create newer rooms if space is available rather than extending the house. Removing expenditure presented by structural costs can save considerably on the construction bills. This ensures that you direct more funds to internal wall and floor finishes, plumbing, new electrics, and fittings. Such projects may include garage, loft, and cellar conversions.
In the event you wish to undertake a large house project, seek the advice of renovation experts who will take you through the process. Use this free home renovation cost estimator spreadsheet to keep on top of your renovation plans and costs (it’s available in Google Sheets and Excel).
- Repurpose your Old Furniture Into New Built-Ins
It is not mandatory to always purchase new items when renovating your home. You stand to save a lot of money by simply thinking creatively about the furniture in your possession. For instance, when renovating a kitchen, consider using a dresser frame as a bench. Repurpose your old desk into a hall table at your home’s entry point.
- Share the Bills With A Neighbor
You might save a fortune if you persuade a neighbor to undertake a similar project at the same time as you. Through doubling up, you will save due to the economies of scale that come in handy. For instance, while building a shared wall, get your neighbor to agree to set up the wall with you. You might save up to 700 US Dollars in fees and material costs.
- Evaluate the Pros and Cons of Your Project
Before you embark on any renovation project, evaluate whether the project will add value to your property or not, especially if you hope to sell the house soon. Contact real estate agents to determine what buyers are looking for in a good house. If possible, contact a licensed architect to determine whether the spatial layout of your property can be upgraded without necessarily increasing the size of land. You might be able to improve your home’s layout by simply moving internal walls and doors.
Popular ways used to add more space include adding en-suite bathrooms, extending the kitchen space to accommodate an open plan dining space, loft conversions, and creating an extra home office.
- Repurpose, Repaint, Do not Replace
Even though people often feel tempted to remove all the old appliances in their houses and replace them with modern equipment, this is often the most expensive route for a home renovation. Instead, seek to repaint and repurpose what you own, especially for items that are in good condition.
Repurposing and repainting works best for kitchen appliances and bathroom vanities. By repainting and updating your door handles, you can achieve a great new look without necessarily paying a huge bill.
Finding effective ways to save finances on your home remodeling project does not have to be a tall order, but it will require a lot of creativity and vigilance from your end. Keep an open mind in regards to decorating furniture and using them in unconventional ways, and also stay alert for clearance sales near you. These tips can considerably reduce your overall expense.