Every homeowner knows that renovations and home repairs are necessary to keep the home in tiptop shape. While this reality is an accepted fact, some people do not want to have large expenses when it comes to home maintenance and renovation. Many people are operating on a tight budget, and it is important for some to work on a specific budget so that they won’t be overly burdened when they have to pay their bills.
It is true that you definitely need money to renovate a home but spending more than you can afford is something that you can avoid.
Here are techniques you can use to minimize your spending but still renovate your home.
Know your budget
Before visualizing a home that you want, you first need to take into consideration the amount you can spend and the amount that you are willing to spend. It is going to be a big disappointment on your part if you already have everything planned out and then realize that it is too costly for you.
Survey the current status of your house
This step will allow you to see what needs to be renovated or repaired and what can be preserved as is. This can give you an overview of the actual cost and from here you can estimate whether you have the money to make the necessary changes to your home, or if it’s more than you can afford. You might want to consider financing the work if that option is available to you.
Draw out a plan
If everything is laid out before you, you can systematically plan your schedule of work. From here, you’ll also be able to figure out how everything will fit within your budget.
If you are operating with a limited budget, prioritize which part of your home needs to be repaired or renovated first. If possible, make a list from the first priority to last.
One store may sell cheap paint while another sells low priced cabinets. Do not buy all the supplies on one store unless, of course, it sells everything cheap. Still, you do want to remember that quality is just as important as the price and buying low quality, cheap supplies may not be the best idea. This may lead to more renovations in the future, which will cost you more in the long run. You can also check online stores for best prices and offers.
Keep or preserve as much as you can
Although, it is possible that your idea of home renovation means making drastic changes, keep in mind that you are still operating under a tight budget. Before taking down any door or wall, stop and think, do I really need to change this? Examine each part involved in the renovation. Like the drawers for example, you can change the drawer cover but keep the actual drawer. Or if at all possible and if still useful and in good working condition, you can just apply fresh paint or varnish to make it look as good as new.
Hire a reliable contractor
Ask friends and colleagues for recommendations. You can also search online. You can minimize labor cost by doing some of the renovations and repairs yourself.
Stick to the scheduled progress of work
Delays can cause stress and financial burdens, meaning more expenses on your part. There may be times when delays are inevitable. Just try to minimize them as much as you can.
Renovating a home can be a stressful but also exciting at the same time, especially when you see progress in the work. Remember not to get overwhelmed and go overboard. Do not spend more than you can afford.
Do you plan to renovate soon? Do you have a carefully laid out plan? Have you renovated in the past? What advice do you have for others?
Whenever I want to renovate anything I first figure out my options and price them. After that I narrow my options down to what I ultimately want and save up money for that renovation. Once I have the money I make a timeline and finally purchase the materials and get started.
That’s a smart way to handle renovations. Do you get contractor quotes first?
For the “reliable contractor” part, as a blue collar guy, I’d like to add that you should choose 6 contractors. Have them each give you a bid. Throw out the 2 most expensive (they’re ripping you off), throw out the 2 cheapest (they’re going to cut corners), and pick one of the 2 middle ones. 6 is a lot of bids to get and slows down how quickly your home improvement will happen, but it’s better to do it right than pay for your mistake of going too fast later.
I will definitely use this for my next job. I usually get 3 quotes, but 6 of them.. wow
A home is a huge money pit! There is always something to do or fix around the house. People never tell you that when you buy a home.