Different Ways to Reduce Renovation Costs

Many people ask me how to reduce renovation costs. The answer to this question varies depending on who you ask. If it is a family that is renovating their home, I will probably give them advice on ways to cut costs on some of the home improvement projects. If it is a business owner, I might steer them away from using sub-contractors or doing large remodels.

Kitchens

Probably the best way to reduce renovation costs is to renovate your kitchen. People spend thousands of dollars a year in kitchen remodeling alone. A great way to remodel your kitchen without having to use contractors is to remove and replace the old fixtures with new fixtures. Some of the best choices for replacement fixtures are kitchen sinks and range hoods. If your current sink and range are leaking, replacing them with newer models will be a great way to save money.

Combine Renovation Projects

Another great way to save money on home renovations is to combine some major renovation projects such as a new bathroom, new flooring, or remodeling the kitchen together with some minor projects such as painting the walls and repainting the cabinets. Doing these home renovations in groups of two or more can often save a lot of money. You can either divide the home renovation budget between the different projects or you can try to do one project at a time so that you can have a realistic expectation of how much money you will save. Doing small renovations like these is great because it helps you build momentum towards larger projects.

If you want to know how to reduce renovation costs, another great idea is to make as many home improvement projects as possible part of your annual home renovation budget. Many homeowners decide that they want to do a few renovation projects this year to get a jump start on next year’s budget. By doing as many of your home improvements as possible as a group, you can use a block of money within your annual budget to cover most of the expenses associated with the renovation project. It is a good idea to talk with a financial advisor if you are considering saving money on home improvement projects in this way.

Control Your Budget

Another important way to learn how to reduce renovation costs is to have a well defined set budget that you work with each year. This is very similar to what many people do with their budgets when they remodel a room in their house. In order to have a set budget, you will need to sit down and write out your entire renovation plan on paper before you begin the project. Make sure that you include things like where your funds are going and which renovations you plan to do.

Don’t Forget About The Exterior

One more thing that can help you reduce your home renovation budget is to look at the exterior renovation of your home. Sometimes people will renovate their exterior only to find that the homeowner didn’t actually think about the maintenance that would be required for the exterior renovations. When you take care of the outside of your home, you’re going to be taking care of the majority of the maintenance that will be required for your home. The reason why it’s so important to consider these kinds of things is because it can save you thousands of dollars.

Consider Saving More

Last but not least, there is always a good idea to save more if you need more for your renovations. You can easily make money online these days as a part time job. Save more and you can deal with larger renovations all at once, which is great in the long run as it becomes cheaper.