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6 Tips for Staying on Budget with a Home Renovation

home repairs

When it comes to renovating the home, going over budget is one of a homeowner’s biggest fears. While the truth is, there can be “surprises” along the way that can cause you to go over what you thought you’d spend, there are ways to bring those costs down. Obviously, there’s no way to avoid those unforeseen circumstances of a home renovation, so you’ll need to come up with creative ways to cut back on the costs of the renovation itself. Check out these ideas:

1.  Complete Your Own Demo

To cut back on the cost of a renovation, you can do the demoing yourself. Knocking down non-load-bearing walls, decks, or kitchen cabinets can be fairly easy to complete and will save you money on labor costs of hiring a contractor. If you are not sure of how to complete a safe demo, it is best to leave it to the professionals.

2.  Buy Direct

When looking for appliances, such as an air conditioner, fireplace, stoves, or patio furniture, consider going with a company such as Factory Buys Direct. You can purchase items directly from the manufacturer and save a fraction of what it would cost you to purchase these things from a typical retailer.

3.  Hire a Contractor with Lots of Resources

When hiring a contractor, you want to work with a home renovation expert who has several resources they can tap into. A contractor who knows other contractors or businesses can typically get products or services at a discounted price. For example, if you’re looking to do hardwood flooring, a contractor might know a lumber yard or flooring showroom where you can get the supplies cheaper than purchasing them on your own.

4.  Recycle Furniture & Décor

If there is furniture or décor in your home that can be salvaged, it is best to repurpose it to save money. For instance, a couch in good condition can easily be transformed with a few throw pillows or a couch cover. Worn down wooden furniture can be refinished and restored to new. If you can’t recycle your own furniture, you could also opt to purchase used merchandise from a second-hand shop or a yard sale.

5.  Complete One Room at a Time

If you’re not sure you can renovate the entire home, start with one room at a time. This will allow you to stay within your budget while still getting closer to making your house feel like a home. Start by renovating rooms that are either most frequently used in your household or by the room that will reap the most return on investment. Rooms such as the kitchen and bathroom are great places to start remodeling.

6.  Check the Progress

Another way to save money on home renovations is to keep track of the progress that is being made. Allowing contractors to work on a renovation for weeks or months without checking out the progress can lead to dissatisfying results. This, in turn, will be a waste of money, time, and materials. It is best to check in weekly to see what progress is being made and to determine if there are any changes you request.

Above all else, the most basic way to save money on your home renovation is to create a budget to begin with. Do some online research to determine an average for the cost of the renovation. Keep the budget in a place you can review it often to ensure you’re not going over. Lastly, don’t forget to ask the contractor to run everything by you prior to making the change so that you can keep track of costs.

Becky Wilcox is a freelance writer who enjoys writing about beauty, fashion, technology and more.  She writes for Life with Lisa as well as several other blogs and websites.  Check back soon for more from Becky.