A home remodel may seem like an expensive endeavor that will never be a reality for you. But many enterprising homeowners find ways to save and push the cost of a remodel down into their price range. Don’t write off a remodeling project as too expensive — consider these five tips to save money and fit a remodel or renovation into your budget.
Find Pre-used Materials
You don’t need to pay premium prices for brand-new materials. Instead, search for pre-used materials that provide the same quality for a fraction of the price. Sources such as Habitat for Humanity and local recycling centers resell salvaged materials at a steep discount compared to buying new. This is a fantastic option for do-it-yourself projects, though some contractors may want to work with new materials to avoid liability issues.
Recycle Your Old Materials
You can also save on your project by recycling the materials and waste that you create during the remodel. Organizations such as Habitat for Humanity, for example, will come collect old furniture, cabinets, and recyclable construction materials. The benefit of this is twofold: you can deduct the donation of your materials when you file your taxes, and you’ll have less to throw away in a trash bin or pay to have a contractor haul away.
Aim for Midgrade Quality
If you do have to purchase some new materials for your project, aim for midgrade quality rather than premium materials. In many cases, the only difference between top-of-the-line options and more affordable choices is the brand name. You want to avoid bottom-line budget materials, though. Planning to purchase midgrade over premium brands will sacrifice little or nothing in terms of quality.
Only Contract Out When Needed
Plan on doing as much of the remodel on your own as you can. The cost for a single day of contracted work can exceed $500, and you can get your money’s worth by only putting contract workers to task on work you can’t do on your own. In addition to dividing the project between do-it-yourself work and professional help where you can, be sure to shop around before signing a contract for hired labor. Collecting several quotes for the remodel can help you get the best deal when you have to contract out.
Rent Construction Equipment
If you’re considering a major remodel, you can save money by renting your own construction equipment. For example, renting a trash bin can save you time and money on hauling debris to a dump or recycling center. And if you need to move heavy appliances or materials, you can rent a forklift and hire a contractor to run the equipment.
Even though you’ll still need to work with a qualified professional who’s certified to safely operate the machinery, you’ll cut costs by supplying the equipment for the specialist to use. This can help put even major remodels or projects, such as installing a new in-ground pool, in your price range.
Any home remodel is a major undertaking, but it doesn’t have to be a major blow to your budget. Try these money-saving tips to see if your dream renovation is more affordable than you imagined.