Home improvements can be costly. For a home with a 1,000 square feet space, renovations can easily cost around $18,000. Meanwhile, a 3,000 – to 4,000-square foot home needs around $36,000 for improvements.
It takes guts and serious finances to push for home improvement projects. Yet, Americans are not as worried about funding renovations as they are about staying on budget. Indeed, a proper estimate is hard to come by but you don’t want to find yourself suddenly out of money to fully furnish those new bathroom tiles.
Fortunately, you don’t need to get yourself into massive debt just to finish your home improvement projects. There are ways you can follow to save thousands of dollars on your home renovations.
Explore these options before you submit those financing applications.Find lending professionals near you.
You don’t need to get a loan to fund your projects. If there are no reparations needed, you can set the project aside for later and save the money needed for it in the meantime.
You may create a separate bank account for your home renovation savings. You can have direct deposits to this account so you can’t be tempted to use the money for other personal expenses. You might be surprised one day how much you’ve already accumulated for the project.
Another way to save is to cut down on your regular splurges – probably eat out less often, make your own coffee at home, cut down clothing costs, and pack your own lunches. These small savings can easily add up and help you save the much needed renovation money to get your project started.
Find fairly priced contractors
Many homeowners opt to go DIY on their renovation projects. However, not everyone has the skill or the time. If the same situation applies to you, you need to find contractors. If you find contractor services too expensive, you can opt to hire service vendors instead. These are those who provide contracting services aside from their full time contracting jobs.
Realtors are also good resources if you want to find reliable and fairly priced contractor. Ask your local real estate agent if they have anyone in their network who can help you with your project at a reasonable price.
Talking about recommendations, your local home depots and other big stores may have a list of contractors that they can refer to you as well.Get today’s rates!
Look for alternative refinishing sources
Who says you need to spend thousands on new furniture just for your space to look good? There are plenty of finds you can get from garage sales. Though it takes a bit of time and effort, imagine the savings you can have in deals half their original prices.
Flea markets and second-hand renovation sites are common go-to thrift shops for plenty of creative, wise renovators.
Do some of the prep work on your own
You’re paying your contractors’ skills and time. So if you are able to do some of the required work yourself, you can lessen the fees you need for the job. These minor DIY jobs can include the removal of unnecessary floor elements in preparation for the placement of new flooring, refacing your kitchen cabinets, adding wainscoting, and painting, among others.
Choose budget-friendly materials
Compare your options and see which one offers the most affordable price without compromising quality and the aesthetics you want to achieve. Get quotes from multiple suppliers and see if you can negotiate the price down for bulk buys.
Home improvements not only change the overall look of your home, it can also add value to your property. But whether you’re moving in or selling, home improvementsneed not cost you more than they should. Use these tips to ace your next renovation project.Click to See the Latest Mortgage Rates»