Are you interested in making some improvements to your home to make it more comfortable and attractive without breaking the bank? By doing some comparison shopping and creating a plan, you will be able to save money on home improvement projects and still make your home look beautiful.
Whether you are making minor updates or refinishing your entire house, there are ways to get the work done without spending a ton of money. Let’s talk about some of the ways that you can complete your home improvement projects and still save money:
Start With a Plan
Begin by creating a plan that includes your priorities.
List the rooms that you would like to work on and the changes that you would like to make. For example, are there rooms that could really use a nice paint job?
What about your flooring?
Are your floors modern, or old and worn out?
Consider updating to hardwood or even laminate. You will easily find some beautiful laminate flooring products available for very low prices.
As well, you can find some beautiful new products for your counter tops that won’t cost you as much as upgrading to granite.
Prioritize which projects you would like to tackle first, and which can wait.
Then identify which projects you will do yourself and which projects you will hire a professional to do for you.
Once you make those decisions you will be able to define your timelines and begin doing your research on contractors, labor costs, and product prices.
Do Lots of Research
Do your research!
If you plan to use contractors then speak with several different ones and ask for quotes that include product and labor.
Ask each contractor for references as well.
Compare the contractor costs with how much each project would cost if you did the work yourself.
You can get great ideas and prices by walking through your local home improvement stores.
Most home improvement stores will even let you take home free samples of the products that you are interested in so that you can color match and make decisions.
Make Sure You Are Improving the Value of Your Home
While some renovations will definitely increase the overall value of your home, others will not. Quite often your location plays a key role in this as well.
If you plan to sell your home in several years, do some research on this before you begin your home improvement projects.
Real Estate Agents should be able to tell you what areas of home improvement will give you the best return on your investment, based on your location. As a part of your research and planning, make some phone calls; tell the Realtors where you live, and ask some questions about renovations.
Shop When Products Are on Sale
Whenever possible, wait for products to go on sale.
Many people want to do their own home improvement projects because they know they will save money and because they enjoy DIY work.
If you decide to do the work yourself, make sure that you plan your projects based on when you can get the best sale price on the products that you need.
Typically home improvement stores offer great sale prices at the beginning of the year, and again, right in the middle of the summer.
Check local store flyers in your newspaper or take a look online.
Start With Small Home Improvements
Are there ways that you can renovate certain parts of your house without having to redo the whole thing?
For example, in your kitchen, why not paint, clean up the cabinets, maybe update the cabinet door handles and change out the sink fixtures.
That, along with a good clean up, will make a world of difference.
Use Financing Carefully to Save Money on Home Improvement Projects
If you are considering doing some major renovations to your home and need to finance your home improvement work, you have several different options to consider.
Many home improvement stores offer their own credit cards now with an introductory offer of no payments for 12 to 18 months.
Other options include applying for a home equity loan or a personal loan from your bank.
Do some research on your options and compare the interest rates and terms and conditions.
Also, check if your city or town offers any rebates on specific home improvement projects, such as upgrading your water heater or replacing your roof or your windows.
DIY Can Save You Money
Save money by doing your own renovations and repairs. Doing the work yourself can save you approximately 50% of what it will cost to hire a contractor.
Many home improvement stores offer DIY seminars on Saturday mornings that anyone can attend for free.
For example, one week they teach how to drywall, the next week they teach how to paint like a pro, and so on.
Be Frugal, Not Cheap
One of the most important things to keep in mind when you look for ways to save money on home improvement projects is that cheaper isn’t always better.
Hiring the cheapest contractor, or working on stuff on your own (DIY), when you have no idea of what you are doing, can end up costing you a lot more money down the road, not to mention the migraine headaches.
Saving money is good, but take your time and make smart decisions so that you don’t become the star of the next Disaster DIY TV show.
While you can have a lot of fun picking out new colors and products for your home improvement projects, paying the bills probably isn’t as much fun. By following the suggestions above you should be able to reno your home and still save lots of money.