Are you in the process of renovating your home? Even small changes can add up! If you’re looking for more ways to ensure your home improvement fits in the budget, explore some of the top recommendations for saving more at Cash Factory USA.
1. Make a Budget
Setting a renovation budget and sticking to it is one of the best ways to keep home improvement costs down. Most of the time people spend more than they originally intended anyways, but if you have a budget already in place, it will keep your spending on track. Our favorite way to mitigate the risks of overspending is to calculate 10-15% on top of your budget. If you can’t afford to spend that increased cost, you need to find somewhere to cut down on spending.
2. Save on Materials
You don’t always have to go to the most expensive hardware stores to find materials for your project. Keep home improvement costs down when you shop second hand options first. Ebay, Craigslist, and Letgo often have a surprising amount of renovation products and materials that you may need. Shop everything from tools to lumber, and find deals in places you wouldn’t typically expect.
3. Search for Deals
If you haven’t been able to find what you’re looking for secondhand, it’s time to head to the hardware store. You probably know well in advance what type of countertop or which style of tile you’re looking for during your project. Find it at your local store and wait for a sale before you buy it. The best deals typically occur seasonally or when new merchandise is coming in. Many times, you can even keep home improvement costs down when you buy the floor model for a particular appliance. Negotiate the price with your hardware store and leave with a great product for a fraction of the cost.
4. Don’t Rush Fixes
Whether you’re working on your own or with a contractor, putting excessive time constraints on your project could result in higher spending. Avoid any costly mistakes when you take your time. An extra month is worth the time if it saves you the money of fixing any errors.
Taking the extra time to save up extra money can also be a game-changer when you’re doing home improvement on a budget. You don’t have to pay with a credit card and risk accumulating interest that will raise the final cost of your project.
5. Try DIY
Before spending money on a contractor, do some research to discover if your renovations are ones you can do on your own. Rebuilding a deck or installing a new sink could be things that are within the scope of your talents. Explore videos and how-to blogs to guide you through the project and save big on home improvement costs.
6. Shop Around
If you absolutely need a contractor because your renovations are big projects with lots of moving parts, shop around for a contractor before hiring. Most contractors offer free inspections and estimates, so you have a better idea of what you’ll be spending in home improvement costs. Over the course of a month, you can have at least three or four contractors visit your home to discuss potential prices. Meeting with each one in person also allows you to gauge their interest, honesty, and customer service chops before diving into a partnership that could cost thousands.
7. Pay in Cash
When you pay in cash, you get two bonuses that help you save on home improvement costs. First, you don’t have to risk paying for additional interest on your credit card. If you don’t pay the entire amount when it’s due, you’ll end up accumulating interest until you do. Second, many contractors will give you discounts when you pay for materials and services in cash.
8. Going Green
In the past, the startup costs for going green were incredibly expensive. Installing solar panels or bamboo plywood cabinets was too much for most people to consider. With today’s push towards more environmentally friendly materials and building methods, it’s not as expensive to choose green appliances and materials. The best part of energy-saving appliances? They come with rebates and save you money over the years to pay for themselves! Some of the most common green additions to consider include:
- Composite Decking
- Solar Roofing
- Increased Insulation
- Bamboo Plywood Cabinets
- Energy Star Appliances
- Paper-Based Countertops
- Synthetic Grass
- Recycled Glass Countertops
- Cork Flooring
- LED Lighting
Some of these will save you home improvement costs during your renovation, while others help you save on electricity and water bills for years to come.
9. Sell Instead of Trashing
If you’re replacing furniture or appliances, you shouldn’t be throwing away the old ones. Sell them online instead. Facebook Marketplace and Craigslist are great places to get rid of used items in good condition. Whether it’s an older refrigerator that still works or a dining room set that doesn’t fit with your home aesthetic, you can make a little bit of money to help offset your home improvement costs when you sell them secondhand.
10. Reuse Materials
You don’t always have to get rid of the parts you’re replacing. A lot of furniture and cabinetry can be given a facelift and reused in your home. You can also find recycled materials in a variety of places including Habitat for Humanity ReStores, salvage yards, and building material auctions. Oftentimes, buying materials on your own instead of letting your contractor do it can save you money on home improvement costs too.
Whether it’s home improvement or deciding how much you should save for retirement, Cash Factory USA is here with great advice for meeting your financial goals. Explore all our blog posts for more life tips to save you money!