How to Save on Your Home Renovation?
Home improvement seems to be all about bleeding out your bank account. But there are techniques for slowing down the hemorrhaging. These are techniques that homeowners have used for years. Some are so obvious, you wonder how you ever could have missed them. Some are painful. That is why you need to make sure that you will save money on it. Here’s how you can reduce the costs of your renovation:
Reduce Need for Second Mortgages, Personal Loans, and Credit
When funding your remodel, it’s nearly impossible to avoid a home equity line of credit or second mortgage if you’re tackling an addition. But you can avoid it for the smaller projects. Keep in mind that by rolling those french doors into a 15 year loan, you’ll be paying for those french doors for many years to come. Avoid personal loans and be careful of credit cards. Cash is always the cheapest choice.
Use Structural Elements as Finish Surfaces
Perhaps you have interior brick walls, ceiling beams, concrete floors, or wood floors that may be, um, decoratively aged. If so, refurbishing these surfaces will always be cheaper than building up new finish surfaces.
Avoid Moving the Plumbing
After you get the estimate from the plumber, you may have second thoughts about moving the kitchen sink five feet to the left. Plumbing work is expensive on its own; moving the plumbing can double the cost, or more. Admittedly, easier said than done, since half the reason for remodeling is often to redesign the kitchen floor plan.
Do Your Own Work
Weigh the values of doing it yourself versus hiring a professional. In many cases, the learning curve is so steep or the need for specialized tools so great that you end up hiring the professional. Siding and hardwood flooring installation often fall into this category. But since our only concern here is money, not time or misery–yes, it’s almost always cheaper to do it yourself.
Use the “Free” Home Remodeling Consultants
You’re seen them–the kitchen planners at local home improvement stores can help you out. Even if you don’t plan on using them, you’ll walk away with a nice printed kitchen design layout. Get product samples of siding from siding companies. Get hardwood and laminate flooring chips from flooring companies. For a short time commitment, flooring installers will come to your house and give you a dead-on floor measurement. Sure, these services come with a cost: the sales pitch. But you’re not shelling out any bucks.