Ways to Save Money on Home Renovation Costs

Home renovation costs can get out of control if you’re not attentive. You’ll be surprised to know how easily renovation costs can go over budget. Before you realize it, your restoration project will grow into a much larger and more expensive one than you had anticipated due to the little things that add up quickly.

One best way to save money is to use a renovation pricing tool that offers industry-standard pricing on contractor fees and material prices. Renovation cost estimation tools even let you tweak designs and materials used to create the perfect home renovation plan that falls within your budget. Read this article if you want to know more ways to save money on home renovation.

Create a budget

Establishing a thorough renovation budget is essential before starting any home renovation project. This budget should include extra relevant or unexpected costs in addition to the usual costs of home renovation (labour, supplies, etc.). For example, a hotel if you have to be gone for a few nights or takeout if your kitchen won’t be functional. You should factor in a 10% to 15% buffer to cover unexpected costs.

Get your permits in order

Forgetting to get building permissions is a common but costly mistake. When you begin renovations without the necessary permissions, a building inspector may order you to stop and start over. This will cost you extra money, time, and building materials. So, before you begin renovating, find out if any permissions are required from your county or city.

Reuse materials

Think about the materials you currently have in your home and what you can upgrade or fix before you go out and buy new supplies. It can be less expensive to reuse something else unless it is seriously broken and breaking apart.

For example, to update the appearance of your kitchen without having to buy new appliances, you can paint the doors on existing kitchen cabinets and change the doorknobs. Alternatively, you can use the fixtures you have in a different area, like a bathroom.

Buy materials yourself

If you’re hiring a home renovator to build your renovation, you may be able to cut costs by finding and purchasing the materials on your own. Check for deals and compare prices at other stores to get the greatest deal on your purchases. Use a home renovation cost calculator tool to estimate up-to-date building material prices.

Is there another method to get building materials cheaper? Rather than having supplies delivered, schedule a pickup. Getting supplies in person can save you money on delivery if your vehicle can accommodate them.

Shop at a building supply reseller

You can buy for better prices at your neighbourhood building materials reseller than buying everything at a large retail home renovation store. Wholesalers usually have lower prices compared to retail stores and provide all the supplies necessary for home renovations. If you buy from them, you’ll also be helping out small, local businesses in addition to saving money.

Refinish your floors

Consider refinishing your hardwood floors rather than installing new ones if you have them. This is because the cost of using new flooring for home renovations is high. You can also hire a buffer to sand your floors and then apply one or two coats of finish. You can finish it in a day or two, depending on the size of the room.

Renovate in the winter

Another nice way to save costs on renovations is to postpone them until the winter. Since home renovators don’t work in winter, you might be able to work out a better price. Moreover, retailers typically have more sales in the winter, so you can discover lower prices on appliances and building supplies.

Split up your renovation plans

If you have a lot of restoration work planned, you might want to divide them up into rooms or parts. Using home renovation cost tools will allow you more time to budget and make plans. It also helps you to take your time searching for low prices on building materials.

Opening a high-interest savings account can help you save money and earn more if you plan to renovate your home in the near future.

Final thoughts

With enough determination and motivation, you can complete your home renovation within your budget. Ensure you use a renovation pricing tool to estimate industry standard pricing of the total construction.