The thought of renovation comes with a fear factor! While home renovation is rewarding for your home, it is monetarily draining for you! As a homeowner, you fear the thought of having to write a cheque that is many-a-times more than the initial budget. And your fear is logical to some extent, as most homeowners have to face nasty surprises mid-way through their projects. These surprises can increase your spending, making you brood over the renovation decision. This is why you need to stay smart while budgeting for home renovation and look for ways to save money.
The end goal of any home renovation budget should be to achieve the dream home looks at a cost that is affordable. This does not, however, mean that you need to ‘cheap it out!’ You can manage both the ends (quality and affordability) with some smart decisions regarding materials, design and timing. Some of the ideas mentioned below would help you plan your home renovation in a way that is desirable.
Tip #1: Target Efficiency, not size
Homes these days suffer from space crunch. A few years down the line and you are already finding it hard to accommodate all those small and ever-increasing stuff. This is one of the leading reasons for undergoing home renovation. You are after space! Now, most homeowners opt for size over efficiency, and that is a big fallacy. The best example in this respect is the space consuming kitchen racks. You could easily overlook these kitchen racks and save space with cabinet–height pullout drawers. You can stack in more things than ever in these drawers. Yes, you might have to customize the drawers with essential features such as pull–out trays and dividers, but the investment would be much lighter on the pocket here than on the conventional kitchen racks.
Tip #2: Opt for Recycling
Homeowners spend an exorbitant lot in purchasing new fixtures and furniture to fit their present lifestyle. What if we tell you that such sophistication can be purchased at half the price? Well, there are many websites and apps out there today which deal with second-hand goods. Just because a piece of furniture is second-hand does not mean that it is less desirable (otherwise there would be no use for those curio shops!). You can look around for such second-hand furniture and trust us you would be blown away by the choices available. You may even use these websites to sell off some of the old furniture that you would be discarded, once the renovation is complete.
Tip #3: DIY Demolition Job
A significant part of your home renovation budget is spent on the demolition job carried out by the service providers. You can save that money by doing some of the demolitions and uninstalling tasks yourself. For the renovators time is money and your demolition job would save a fair bit of that. If you are handy at such tasks then DIY would be a great way to save costs. But before you go ahead, please take suggestions and understand the hassles of the process.
Tip #4: Use the Left Overs Smartly
If you have a good rapport with building contractors, then this is an idea that will suit you aptly. Suppose you want to install hardwood flooring, rather than looking out for the fresh ones, how about inquiring for the leftovers. Every contractor has some residue in his warehouse from the last job, and this leftover would be thrown into the trash can. So, your request for these leftover materials would be met with a smile, for sure. And the contractor would be glad to sell the hardwood flooring material at dirt cheap rates. But the challenge for you is: the leftover would come in different colours and sizes. So you have to think out of the box and utilize them smartly.
Tip #5: Eliminate the Delivery Charges
Doorstep delivery of construction materials might be very convenient, but it comes at a price. So, with a bit of zeal, you can eliminate this cost. You might have to take the pain of driving around from one vendor to the next, but the hard work would be repaid with great savings. If the materials are none too hazardous, then this is a practice that could save money on the home renovation budget.
Tip #6: DIY the Finishing Job
Just like the demolition (and uninstallation) job, you can perform the finishing and cleaning tasks yourself. Suppose, you could clean up the premises after a new window has been installed, or you could perhaps paint the walls yourself after the renovations are completed for a room. These again would help you save a lot of money.
With some simple tips, we have helped you save a lot of money on your home renovation budget. If you like our ideas please send in your comments.