You may think that remodeling your home is too expensive and out of your budget, but if you plan it right, it doesn’t have to break the bank. Whether you’re planning to remodel your home to keep or to sell, there are quite a few ways to stay within your budget while maintaining your vision of your dream home.
Most often, homeowners don’t know where to start when they decide to remodel. They may see a remodeling TV show and think “That looks easy. I can do that!” But when it comes down to it, they’re way over their head and get overwhelmed. You can learn to cut costs without cutting corners. Here are the top 5 ways to save on your remodel.
- Be Strategic
Before attempting any project, you need to set your budget to ensure you don’t go overboard. Researching fixtures, materials and appliances before your project begins can help you get an estimate on what the costs might be. Going to hardware stores, appliance stores, and even such online sites as Craigslist can help reduce your costs. Unfortunately if you are unsure about what you want, you have to rely on someone else, such as a contractor, to give you an estimate. This can cost you thousands of dollars.
- Don’t be Tempted by Recessed Lighting
A lot of people rave about the look of recessed lighting. However, recessed lighting is expensive, difficult to install, and once it’s installed, you can’t move it. The cost of recessed lighting is much higher than that of conventional light fixtures, and even the bulbs themselves, as well as the labor to install the lights, are more expensive than traditional fixtures. Recessed lighting is a permanent fixture. If you want to change the layout of your room in the future, your light fixture has to stay in the same spot, which could be an inconvenience. One of the biggest disadvantages of recessed lighting is the safety issue. If the lights are not IC (Insulation Contact) rated, they can generate heat and cause a house fire.
- Expect the Unexpected
According to Mark McCourt, Founder and CEO of eheat Inc, “The unexpected is unpredictable…but it doesn’t have to ruin your remodeling project.” Unexpected conditions seem to happen with every project, and normally occur during or right after demolition is finished. But if you leave a cushion in your budget for unforeseen circumstances, you’ll be covered. You should also add a little extra time in your time frame for unanticipated issues and the time it takes to fix those issues.
- Be Efficient
When you’re initially thinking about your remodeling project, you have to keep in mind that your home needs to be more efficient. So, instead of removing a wall, you could simply add storage and shelving. This can help to free up some space and create the open floor plan you might be looking for. For example, in your kitchen you can even hang a pot/pan rack or pegboard to declutter your kitchen and open up more storage space.
- Do Your Own Hauling
During remodeling, there is always an enormous amount of materials to be thrown out. You can save hundreds of dollars by removing the materials yourself. You can also contact Habitat for Humanity and donate items that are clean, in good condition, and can be reused. They will take anything from cabinets and wood flooring to lighting and appliances. What may seem like trash to you can be functional materials for other renovators. And, you might qualify for a tax deduction!
Keep in mind that a remodeling project to create your dream home doesn’t have to be pricey. Create a budget, stick to it, and before you know it, you’re living in your luxury home!