When you start a new renovation project, the cost can quickly get out of hand. And at some point during the process, you start to look for a few ways you can save some money.
The good news is, there are quite a few things you can do to save money. Below you will find 3 simple strategies that will help you keep more money in your pocket on your next home renovation.
Set a Budget and Stick To It
Renovation costs often get out of hand because there is no budget to follow. That’s why the first and most important thing you should do is set a budget. Figure out how much you can afford to spend on your renovation.
Before you pick out any items, or approve any designs, get clear about how much you can spend. By getting clear we mean set a specific dollar amount. This way you will be able to make choices that fit within your budget.
Once you set a budget, be sure to stick with it.
Most people go over budget because they are rushing. They want to gut everything and they want to do it now. Trying to do everything at the same time can be extremely overwhelming. And because you are overwhelmed, you end up making bad choices.
The end result is a lot of disappointment….
So be patient. There is no need to rush. Start with one room and finish it first before moving on to the next. Prioritize what will be the most difficult part of the project, and do it first if you can.
Doing it this way will prevent you from having multiple unfinished projects. Also, as far as budget goes, working on one project at a time makes it a lot easier to stick with your budget.
Do It Yourself
When it comes to home renovations, one of the biggest expenses you will incur is the cost of contractors. And depending on the type of work being done, you can easily spend tens of thousands on contractors.
Now before you ignore this tip, please understand we are not saying you need to go learn how to install drywall.
Regardless of how skilled, or unskilled, you think you are, there are some things you can do yourself.
For example, there is a lot of prep work that goes into a home renovation. You could offer to help with the prep work in exchange for a discount on the overall cost of the project.
Some of the things you can do include helping with demo, cleaning, and preparing surfaces. If there will be a new paint job, you can prep the walls before the painting contractor Stamford comes in.
Keep in mind you will be paying by the hour. So anything you can do will lower your overall costs.
If you plan on doing a lot of work yourself, please make sure you know your limits. There are some things that legally can’t be done unless you are properly licensed. Only stick with what you know you can do.
Doing so will help you keep more money in your pocket.