Renovating on a Budget – Where to Save and Splurge
Renovating on a tight budget requires several considerations. Establishing and adhering to an achievable budget are the cornerstones of success.
Prioritize projects by their impact. For instance, it might not make financial sense to remove walls purely for cosmetic reasons without increasing home functionality.
1. Appliances
When creating a renovation budget, several factors must be taken into account, including getting cost estimates from multiple contractors and purchasing your own materials and DIY painting or renovating during winter when contractors may be less busy.
Interior upgrades typically represent the most costly component of home renovation projects, from paint and appliance changes to window treatments and furnishings.
2. Furniture
Furniture and appliances are often one of the biggest expenses involved with renovating a home, so shop second-hand pieces or reuse items already owned for reduced expenses. Black Friday sales, end-of-season discounts and holiday sales may provide great opportunities to save big when shopping for appliances and furniture.
Make sure that before hiring a contractor for any painting, reupholstering, or installing light fixture projects you research their costs to help prevent budget overruns. This will enable you to stay within your budget without overspending on services provided.
3. Clothes & Toys
As we scroll through renovation accounts it can be easy to forget that real people don’t have an endless supply of Margarita money. Therefore it is essential that you set realistic budget estimates and stick to them! For accountability we suggest downloading our spreadsheet which includes sections for tracking budget estimates (estimated vs actual) and paint colors – staying on top of this will save money in the long run!
4. Appliances & Furniture
Refurbishing appliances and furniture can be expensive. To save money, research generic brands from trusted vendors with good reviews that may offer equivalent functionality for less money.
Consider planning large items like granite kitchen countertops until winter when contractors are less busy and you can get better deals on materials. By setting realistic timelines and saving each month, your renovation dreams can become reality!
5. Appliances & Furniture
Renovation can tempt us into purchasing expensive appliances, but doing a bit of research will ensure you find quality options within your budget. Appliances Connection can help.
Consider purchasing highly reviewed generic products instead of custom or brand name ones for similar looks and durability at reduced costs. Open box and scratch and dent items may even save more money!
6. Appliances & Furniture
Renovation costs can quickly add up. Some of the more costly projects include increasing square footage, remodeling kitchens or creating living space in basements or outdoor spaces.
To maximize savings, shop around for contractors and materials. Get estimates from several sources and schedule work during winter when contractors and builders tend to be less busy. Also keep your eye out for scratch-and-dent items at local retailers – these may save money too!
7. Appliances & Furniture
Once you’ve decided which projects to tackle, be selective when purchasing materials. Use the internet to research costs and compare materials. Search for promotions, sales or financing offers as you shop.
Relocating large appliances such as sinks or stoves should only be undertaken when absolutely necessary; otherwise it could prove more expensive than anticipated due to opening walls and installing plumbing and electrical work required for relocation.
8. Appliances & Furniture
Reusing existing materials, particularly appliances, is one way to save money during renovation. Repainting cabinets or replacing door handles are an economical way to refresh a space without incurring additional hardware expenses.
Search online to compare renovation materials prices; often generic versions of brand-name options will cost less. Also consider energy efficient options to reduce utility bills and help lower carbon emissions.
9. Appliances & Furniture
Renovating on a budget means carefully planning and adhering to an itinerary, in order to avoid extra costs associated with delaying or adding projects during renovation.
Before seeking out contractors for renovation projects, do some preliminary online research of your desired renovation costs to give yourself an estimate. Doing so may save money on labor and material fees as well as generic supplies which can further cut expenses.
10. Appliances & Furniture
Homeowners can save money when renovating by opting for generic products instead of brand-name ones. For instance, many popular backsplash tiles and kitchen cabinetry products can be bought for less than their custom counterparts.
Homeowners looking to save on more costly purchases may benefit from scheduling their projects during winter when contractors are less busy and shopping seasonal sales for building materials and appliances.