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8 Ways to Save Money on a Home Renovation

8 Ways to Save Money on a Home Renovation

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You can renovate a home before moving into it or while you are living there. Regardless, a renovation is a massive project that you should carefully consider before starting.

There is much to consider when you decide to renovate your home. One of the most important considerations will be how much you want to spend on the renovation.

Most people spend way more than they should when making renovations. It is especially so if the renovation includes significant structural changes to the property.

The following are eight tips to help you save money on a home renovation:

1.   Create a Budget

First and foremost, you will have to figure out how much you want to spend on the renovation if you want to save money. You will need to know how much you can spend on individual projects as well as on the entire renovation.

The best way to do so is to create a budget detailing every little detail about the renovation. Having a clear-cut budget will let you know just how much you will need for the project. You should always leave room for unforeseen expenses.

You will then look at your savings and any financing options you have for the renovation. The key is to stick to the budget you make which is often the hardest part.

2.   Decide on Renovation Priorities

When doing a renovation of your home, there will be dozens of changes to be made. However, there are changes that are more important than others.

Therefore, you should evaluate the project and decide which renovations are the top priority. They should be those that offer the best bang for your buck or that are necessary for proper living in the property.

If you focus on renovations that add value to the property, you increase the chances of getting your money back when selling your house. Such changes will include putting up a deck, kitchen remodeling, and replacing the garage door among others.

Once you get your priorities right, the rest should easily follow.

3.   Consider Bids from Multiple Contractors

When carrying out substantial renovations, you will probably need the services of a general contractor. Unfortunately, most people only consult a single contractor instead of several.

The general contractor will be the one responsible for coordinating all the various aspects of the renovation. These contractors tend to be quite expensive.

For example, if you are remodeling your bathroom in Liverpool, you will probably need tiles. Therefore, you should consult several tilers in Liverpool. The more tilers you can contact, the better.

The contractors will also offer advice as to where to source the materials for the renovation. It is better to evaluate bids from at least three contractors if you are to find the best deal possible.

4.   Do it Yourself

If you consider yourself to be quite handy and have experience in the construction industry, then you can decide to do the renovations by yourself. It will certainly help you save money as you don’t have to pay anyone else. If necessary, you may pay fewer people for the labor.

There will be renovation projects that are simple and require a small amount of skilled labor. These may include painting walls, installing tiles, demolishing walls and putting up shelves among others.

On the other hand, there will be certain projects in which you will require some help. As long as you do much of the work yourself, you will save plenty of money.

5.   Find Used Materials

When renovating your home, not everything you use should be new. You can source for slightly used materials and use them in various aspects of the renovation.

There are many places where you can find used materials that are still usable in a renovation project. Construction sites are a great place to start but you can also check online marketplaces such as Amazon Warehouse.

Used materials you can get include leftover slabs of countertops or flooring, screws, nuts, bolts, wire, rope and many others. Though you can save a lot of money doing this, it will definitely involve a lot of leg work on your part.

6.   Buy Materials During Big Sales

If you are carrying out a renovation of your home, chances are you will plan for some time. You can use the time to find cheaper sources of materials. If you cannot get them for free by using used materials, you should look out for large sales where you can get amazing discounts.

The cost of buying all new materials when renovating your house can add up to a tidy sum. If you want to buy new materials, you should do it during big sales particularly around the holidays.

The big sales happen during Labor Day, Christmas, Black Friday and New Year’s. You can also set up alerts on large ecommerce sites to be notified whenever there is a sale.

7.   Sell Old Materials

Since most people want to renovate their homes with new materials, you can sell the old materials you will be replacing. You might not get much for them but it will definitely help you save money on the renovation.

You should never throw away old materials just because you are getting new ones. If it is usable, use it. If you can’t use it, sell it to someone who can. Online marketplaces are particularly great places to sell old materials.

8.   Don’t Do it All at Once

What costs some people so much when renovating their homes is trying to do it all at once. Doing so usually costs them a lot more than it otherwise would.

You should renovate your house gradually instead of attempting to conduct a symphony of change. Some of the changes that you think are urgent may very well not be.

Even though you may be able to renovate the house all at once, you should do it in stages. It will allow you to save so much money in the long run.

A home renovation is a massive undertaking that often costs a lot of money. Using the tips above, you can save a tremendous amount of money. Constantly evaluate your home to see how you can save money while renovating it.

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