5 Ways to Save Money on Home Renovation

by Tim Gorman

Posted on April 7, 2017 at 3:00 PM

A home with a newly renovated kitchen.

When looking to update or remodel your home, there are many aspects to consider. One of the biggest factors that homeowners face is budgeting for the home renovation. On average, homeowners pay way more than they should for home improvement renovations. Here are some ways you can save some money the next time you want to redo your outdate kitchen or bathroom:

  1. Refurbish. One way to save money when you are renovating your home is to not completely remodel. What I mean by this is try to restore and clean up existing fixtures. You can refinish old cabinets and replace outdated knobs and handles can save you more money than you think.
  2. Cost-effective Materials. When remodeling, choosing the most high quality materials will run up the cost. I am not saying go with the cheapest countertops or carpet, but find an option that looks great for a decent price.
  3. Prep. To reduce the labor cost of the contractor, prep the materials and the area you plan to remodel beforehand. Put down any tarps, pull up carpet, or do anything that involves setting up for the major project.
  4. DIY (Do it yourself). Doing smaller projects yourself like switching out hardware or painting a room will drastically reduce your renovations costs. If it is a larger project, then I would suggest you spend the money and call a professional. It all depends on how handy you are but assess the project before you hire a contractor.
  5. Research. If you decide to hire a professional, make sure you do your research. Find a reliable trustworthy contractor that has done these projects before. Shop around, find a contractor that will work within your budget and when you do, make sure all prices are negotiated and final before work is done. You do not want to be stuck with a higher bill when the project is completed.