Too many homeowners put renovating their home on the back-burner because they think it will break the bank. While some full remodeling projects may cost more than desired, you can still renovate your home to your liking while sticking to a strict budget. With a little bit of planning, you’ll be living in the home of your dreams before you know it.
1. Hire yourself as the project manager
The best way to keep your costs controlled is by doing a lot of the directing yourself. You could search for local tradesmen though instead of paying a salary to a professional project manager, you can choose to take on this role instead. This can save you thousands in the long run.
The role of the project manager is to make sure everything stays on schedule and on budget. You are the perfect person for the job. As project manager, you’ll oversee any workers you hire and any expenses that are incurred. Be aware, as project manager you’ll need to allocate enough time to the job; however, being able to manage every aspect of the renovation will ensure you get the desired end result.
2. Compare prices
Everything costs money when you’re doing a renovation. From supplies to hiring contractors, you’ll be spending money at every turn. If you’re on a tight budget, it’s important you do everything within your power to keep your spending to a minimum. Before making any purchase or signing a contract, be sure to compare prices from a variety of vendors.
The cost of building materials can vary greatly from store to store. Big, fancy shops with expensive signage and advertising may have a higher overhead than a smaller, family store. These expenses may be figured into the cost you pay. It’s also wise to get quotes from several contractors before settling on one.
3. Buy luxury and affordable
You don’t only have to purchase high-end fixtures for your home. Some of the most affordable options offer the same durability and look like more expensive designs. Read reviews before making a purchase to ensure money is well spent.
4. Plan in advance
If you take on an impromptu renovation, you’ll probably end up spending more. Instead, be sure to plan in advance before tackling the project. This will give you enough time to come up with an affordable design. You’ll also have the chance to shop different sales with vendors so you are sure to get the best deal on everything you need. Planning in advance will also ensure you don’t forget any of the small details, which can cost you tremendously in the long run.
5. Reuse and recycle
If your project involves a lot of demolition, don’t toss away the debris just yet. Instead, consider reusing some of the materials on your renovation. Brick and tiles are expensive to replace, but if you reuse what you have, you may be able to save a lot of money.
You can also look for recycled materials at a local tip. As they say, one man’s trash is another man’s treasure. You may be able to purchase used materials for a fraction of what they would cost new.
6. Do it yourself
Whenever possible, try to complete as much of the renovation as you can on your own. DIY projects cost substantially less than hiring out. Some of the easier jobs, like painting, are simple to do, even without experience. If you need tools, you may be able to rent them from a local hardware store for a reasonable price. Imagine what you can do with the thousands you can save by doing it yourself!
No matter the budget you have set aside for your renovation, it’s possible to get everything you want. Take the time to plan out your budget and know exactly how much you can allocate towards each step of the project. Your renovation doesn’t have to cost a fortune.