Clever Ways to Save Money on Your Home Remodeling ProjectTerohan Nula July 18, 2018 0 COMMENTS
Is your bathroom just dying for an upgrade and your kitchen needs a breath of fresh air? Then perhaps it’s time to do some home renovations.
The thing is, home improvements could be a huge and costly undertaking, even if you have some money stashed away or could qualify for an FHA 203k loan to help you fund your renovations. With this in mind, here are some nifty ways to achieve your remodeling goals without going over budget.
Resist the Urge to Do a Full Remodel
Unless your bathroom requires being gutted completely, you could save money when you refurbish existing fixtures. In fact, when doing a kitchen remodel, you could opt to stain existing cabinets, swap out old drawer knobs and handles, and reface existing molding to save a significant amount of money.
Refurbishing your cabinets alone could save you as much as 50% of the cost of buying and installing new kitchen cabinets. Additionally, you could further reduce the costs by buying the materials yourself.
Consider Doing Some Prep Work
To save money on contractor hour, and reduce labor costs, do some preparation work. For example, if you’re planning to install new carpeting, you could remove it yourself. Doing so would help reduce the cost of the carpet installation, which could result in significant savings since many carpet installers charge extra per yard for removing old carpeting.
While it’s advisable that you DIY some renovation work, proceed with caution and only do so if you’re confident that you could get the job done properly. For example, you’ll probably be fine with painting walls, but not refinishing cabinets. The last thing you would want is to skimp on a project and then find out later that you need a professional to redo a botched project.
It’s important that you shop around for a competent contractor who’ll provide quality work at a fair price. Consult with at least three to four contractors to get a feel for them and obtain bids for your renovation project. Don’t forget to request for their estimates in writing, so you could easily compare different quotes from different contractors.