5 Ways to Save Money on a Home Renovation
Like building your dream home, house renovation can easily go beyond your budget if it’s not planned carefully.
Many factors can stretch your expenses, such as your chosen materials, contractor, and final design. However, you can take up some of the work, re-use supplies, and be more creative.
So in this article, we will delve into the ways you can save money on a home renovation. This can help you to get quality design results at an economical price.
Ready? Let’s begin!
1) Decide on your budget
When it comes to saving on house renovation, setting your budget is a top priority. Otherwise, you might spend more than what you can afford and face a big obstacle in completing the project.
It doesn’t have to be complex, though. You just need to list down your expenditures and allocated budgets for each of them—like materials, tools and equipment, labour, and building permits.
We advise doing it on an Excel spreadsheet so that you can view it anytime, be it on your PC, laptop, or phone. The information will also less likely be lost than if you put it on paper, which can become a hassle.
Also, remember, it’s better to underestimate your budget than to do the opposite, so you still have some cash left. Speaking of, you should also have a contingency fund, which should be around 10 to 20% of your budget, just in case the building work requires more spending.
2) Choose affordable home decor goods
While we all want a dashing interior design, you can opt for affordable home decor items in place of costly elaborate ones. Pillows, candles, indoor plants, and hardcover books are a few things you can pick up.
There are plenty of shops for this around your area or online. You might even want to consider buying clearance or garage-sale items that are in good condition to save your money.
To take it further, you can even do your interior design. For inspiration, you can browse stuff on Pinterest, just surf the net, or enlist the help of a creative or professional family member.
3) Take on small renovation tasks yourself
See if you can DIY some of the small renovation works, whether for the toilet, kitchen, or the whole house.
You may, for instance, tidy up the house, paint the walls, build the deck, among other tasks, without hiring another professional besides your renovation operatives.
Of course, due to the dangers and complexity of electrical or roofing works, you have to depend on a licenced specialist for them.
While helping out with this kind of work is a challenge, you end up learning more and improving your building skills, which can be beneficial for you in the future.
4) Choose a simple design
A simple and practical house design often suffices. As long as you can live there in comfort, safety, and with fewer expenses, the renewed house is already a good decision.
There’s no need to supersize the renovation design. That can mean retaining the conventional flat or rectangular floor layout rather than changing it to a round, triangular, or a different complex shape.
Also, if you have an energy-hungry air-conditioner and lighting, you can have the contractor replace them with energy-efficient models so that you can spend less on power bills every month.
Plus, you’ll have an easier time maintaining your entire house with a simple and humble design. As such, you will cut down on your regular expenditures as opposed to if you are extravagant on it.
5) Sell Stuff You Aren’t Using
Another way you can save (or make up for lost money) is to sell unwanted or unused fixtures. It could be a ceiling fan, portable AC, dehumidifier, or spare parts.
Ideally, you should reuse them at home or your other home if possible to maximise your use for the item.
But, if not, you can just post and sell them on Facebook Marketplace, Carousell, or eBay. If you have friends or family who want to get or buy it from you, so much the better.
As a result, you won’t be spending money all the time throughout the renovation process, but you will also earn, even if it’s only a little.