When you are planning to remodel or complete any home improvement projects, cost is always a factor. Too often, the dreams in our head cost much more than the money we have in our bank account. Therefore, when starting a home improvement project, these money saving tips can help you stay on budget and still get the beautiful finished project you saw in your mind.
What You Want May Not Be What You Need
The first step is to understand the difference between what you want and what you need. For example, if your refrigerator is slowly dying and you have decided to remodel the kitchen at the same time you replace the refrigerator, keep in mind that the cost of the refrigerator is a “need” and not a want. Be sure to put that as your top priority. If your stove and dishwasher are working fine, you can put newer models lower on the priority list so that you can use the cost of those items towards another part of the project.
Tear It Down Yourself
If you hire a contractor to do the demolition part of a remodeling project, they will add the cost to your bill. If you are confident and feel you understand what walls can be removed as well as basic building principles, you may be able to do the demolition part of the project on your own. You will need a basic understanding of wiring, plumbing and load-bearing walls to be sure you don’t incur added expenses.
Plan Around Existing Infrastructure
Moving plumbing and electrical wiring can be expensive, time consuming and frustrating. Instead of relocating the kitchen sink to the other side of the room, work your remodeling plan around the current location of the sink. Leave existing electrical outlets wherever possible and add new rather than move wiring. Remember that you will probably need to hire a plumber or electrician for these jobs and their costs can be very high.
Start Small
If you are just getting into renovations, consider starting small. Instead of remodeling the entire kitchen, replace an entry way or add on a new porch. Even the construction of a new deck will give you an idea of materials purchasing, labor costs and the process of construction. This will help you negotiate better prices with contractors in the future.
Estimates and Cost Overruns
Even if you plan to do the work yourself, get an estimate from a professional. This will help you estimate the amount you will need for the project as most homeowners tend to underestimate how much a renovation will cost. In addition, there is rarely a renovation project that does not run into a snag, so plan extra in your budget to deal with the unexpected.
Renovations can be fun and exciting, but they can also be frustrating and expensive if you don’t plan well. If you are considering a renovation, contact us today and we can help guide you through the process to help you avoid as much of the unexpected as possible.
