Home Remodel Budgeting
A home remodel on a budget is a possibility if done right and approached with creativity about how to find materials and get the work done. Follow these tips to stay within your budget on a home remodeling project:
- Meticulous planning is the No. 1 way to save money on supplies and labor on your home remodel.
- Try to do what you can on your own before going to a home contractor. This can include doing paint jobs and tiling yourself, but leaving the plumbing and electrical stuff to the pros. In addition, painting and tiling are the most straightforward ways to make a sweeping change to the appearance of a living space.
- When using tile, use manufactured ones as a base and purchase hand-painted ones as accents.
- If you have wooden floors under your carpet, consider stripping the carpet and refinishing the wood to boost the value of your home up to $10,000.
- Hit up salvage yards, resale shops and flea markets for supplies, materials, appliances and decor for your home improvement project. Donate the items stripped from your project, donate them and write it off as a tax deduction during your home remodel.
- Consider refinishing current cabinetry or appliances rather than replacing them. In the case of cabinets, swap out knobs and handles for new ones.
- Instead of hiring a contractor to overhaul a specific room or living space, hire a handyman for a specific task that is too difficult for you to do on your own, then complete the rest of the project yourself.
- Explore ways to make your living space more efficient so that you don’t have to endure the cost of adding square footage.
- Check with your home remodel contractor on supplies you could use. For example, contractors often get a special deal with vendors they work with or they may have extra materials left over from a previous job.
- Consider the long term when making short-term remodeling decisions. Try to bundle certain upgrades in one remodeling session when you could save money on materials and having repeat visits from contractors.
- Pick up your own materials to save on delivery cost.
- Hire contractors for your home remodel during off-peak times such as right after the new year. Peak times include the summertime and in the fall after students return to school.