7 Tips To Save Money While Renovating Your House

Monday, July 1, 2019

Renovation is a normal part of owning a house. You want to constantly improve your living space for the sake of your comfort and your wallet. Unfortunately, renovations can be pretty costly on their own, which begs the question: “how do I renovate my home in a more cost-efficient manner?” It might seem like an impossible task, but you would be surprised at all the ways you can transform your home without breaking the bank.

1. Replace responsibly
People sometimes go overboard when they start renovating their home. It’s understandable, you want to give your house a fresh new look that will make it feel like it’s brand new. However, this doesn’t mean that you should blow your whole budget on replacing absolutely everything. There are probably tons of things that are worth keeping.

Furniture is one of the better examples. Even if you are bored with the look it provides, you don’t necessarily have to throw it out. Try coming up with a creative way to modify it first.  You can always change the color and upholstery to fit the new aesthetic needs of your home. It would be a lot more efficient, considering the fact that new furniture is ridiculously expensive and you should probably spend the majority of your budget on something more impactful. After all, re-designing it could be a fun activity for the whole family. While newly bought furniture isn’t going to be as diverse as you might want it to be, you can turn your old furniture into something that can really grab the attention of guests.

You don’t want to regret getting rid of something once you figure out that you actually needed it. Take appliances for example. They are an essential part of your home, even if they might not look the part after a couple of years of wear and tear. Your blender might not fit the look of your new kitchen, but it’s certainly going to keep doing its job just fine. In any case, you can always keep it in the pantry and only take it out when you need it.

2. Profit from old things
Unfortunately, some items and pieces of furniture are probably past their prime. If they are torn, damaged, or otherwise dysfunctional, it might be best to simply get rid of them. But, before you decide to take them to the nearest dump or recycling plant, you might want to consider a way that they could benefit you one last time.

Selling them is the most obvious option. Sites like Craigslist and eBay welcome sales of the most ludicrous and unusual items, so why not try that? Even the most damaged items can find a home, assuming that they are priced accordingly. You know what they say: "one man's trash is another man's treasure". For things like furniture and appliances, you'd best believe that there are lots of people that would consider your old stuff treasure, no matter how far gone it is.

If you think posting things online and waiting for prospective buyers is a hassle, you could always look to the local scene. Yard sales are basically a tradition that is often paired with renovating a home. On one hand, you don’t have to move from your home, which makes it the ideal solution for those who would rather not spend a lot of their time for a bit of cash. On the other hand, it’s also a great way to get some solid offers from people that can check out the merchandise live. It’s a lot easier for people to buy on the spot, rather than browsing through hundreds of online postings.

Any cash you make is going to be better than nothing. You were going to throw the stuff away anyway, so why not get something out of it.

3. Buy second-hand things
Speaking of garage sales and online bidding, there's no reason you can't take advantage of the system as well. You can get a lot of quality second-hand items from people who are renovating their own homes. Think of it as a kind of recycling that you enormously benefit from.

If your budget is somewhat tight and you want to get quality stuff, you might think that there’s no option available. However, there’s no reason you can’t buy things and fix them up. Some used items and pieces of furniture are hardly damaged at all. All they lack is a unique and interesting look. If you put some effort into designing something new out of them, you could end up with a real gem for basically no money at all.

Again, there are also a lot of websites online that specialize in these types of exchanges. Amazon and eBay might just have some things you didn’t even know you wanted. The best part is, you don’t have to worry about items that have defects or problems. Many of these websites provide their own type of warranty and they offer replacements for problematic sales. It makes the process a lot simpler and you don’t end up with any headaches while dealing with people that seem to be selling shady stuff.

4. Purchase with purpose
People often take the easy route when renovating their home. It’s a lot easier to simply walk into a store and get everything you need all at once instead of checking every individual store you run into. However, it’s quite obvious that the former option is going to cost you a lot more money than you think.

You should always take a look at all of the alternative sources that you have available. Some stores will have cheaper options for specific items. It’s hard work trying to find the best deal for every individual item, but it pays off in the long run.

Keep in mind, you don’t have to walk to every store, many brick and mortar shops have their own websites nowadays. Even on the off chance that they don’t sell products online, they often have a catalog with prices. This can help you price-match against other stores.

5. Get things done DIY
Handiwork will get you far when it comes to certain small renovations, but it couldn't possibly help you get a brunt of the major work done, or could it?  You would be surprised at all the things a skilled pair of hands could do. As long as you use those hands to work a computer keyboard, you're a shoo-in for doing much of your own renovations.

When it comes to the basic grunt work for your home, it’s something you can definitely do on your own. Painting walls don’t necessarily require a professional touch. Stick to online guides and you can do it almost as well as a solid painter can. A few droplets here and there won’t ruin your day, but the whole process will save you a lot of money.

6. Look at the long run
When you’re renovating your home, you need to look at the big picture. Just because something costs less right now doesn’t mean that it will cost less in the long run. Replacing that leaky window might cost you a pretty penny, but it’s also going to reduce your heating bill by a significant sum.

Every decision you make needs to have some context behind it. You need to think of cost-saving in the real sense of the word. Increasing efficiency is a big part of a proper renovation. Aesthetics are also important, but you need to look at the things that cost you money over time as well.

Heating and electricity bills should be your top priorities. While you’re replacing your chandeliers and light fixtures, you should look into some LED lights that can help you save on power. While taking care of doors and windows you need to make them as leak-proof as possible in order to save on heating.

Many of these renovations cost tons of money, which is why a lot of people look to OurMoneyMarket for home renovation loans to help renovate their homes. Home improvement loans might seem excessive, but they’re considered a great investment. You get to improve many of the things that make living in your home costly, while also not having to pay a lot of money on interest rates.

7. Get the right contractors
Some types of work should be left up to the professionals. No matter how good you are with lightbulbs, you shouldn’t try to change the light fixtures all on your own. The risks just aren’t worth the small amount of money you might save.

You can get a professional estimate for some of the work that needs doing in your home. Use free estimates to get an idea of whether or not you should hire certain professionals to do the job.

Sometimes, a job that would have taken you days could be done within hours by contractors. This should be considered a cost-effective solution. Time is money, after all.

Renovation is often a costly ordeal, but it doesn’t have to be as costly as you imagined. With a little know-how and dedication, you can make your home look brand new without going bankrupt while doing it. 

Disclosure: I only recommend products, tips, or services I use or would use personally and believe will be good for my readers. Your opinions may vary from my opinions. You can also go here and read my PR and Disclosure Policies.

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