Home Renovation Strategies That Can Be Easy on Your Wallet
Embarking on a home renovation is something that many homeowners dream of for years. Whether you’re building a conservatory or refurbishing your kitchen, a recently renovated home helps you put your stamp on your space.
Renovating your home can add serious value to your house, too. However, you might be putting off necessary changes to your home over fears about costs. This is understandable, as some renovations can cost tens of thousands of dollars.
But renovating your home doesn’t have to break the bank. There are plenty of home renovation strategies that are easy on your wallet and produce stunning results. You just have to plan carefully and should be willing to make a few compromises along the way.
Planning Your Renovation
Renovating your home is a major undertaking. Before you break ground or bust out the paint, you need to create a cohesive plan. A clear plan ensures that you stay within your budget and helps you achieve your vision within a reasonable time.
Start by setting a renovation budget. A budget will help you identify some goals and guide your decision-making. A clear budget will also show you what you can or cannot tackle at the moment. Consider putting off larger renovations if you don’t have the capital for them — you won’t be able to enjoy your new living room if you’re fretting about repaying loans that you can’t afford.
Next, set a timeline for your renovations. There’s no use in building a barn during the winter, as extreme cold and short days will cost you money and set your project back. Spring is the best season to start a renovation outdoors as the days are longer, the weather is milder, and the project will be completed in time for the summer.
If you do want to start a renovation in the winter or fall, consider making it an indoor renovation. Indoor renovations, like refurbishing your kitchen or redecorating your bathroom, can have a profound impact on the appearance of your home. These indoor renovations don’t have to cost a fortune, either. Simple decoration tips, like repainting flaking walls or upgrading your lighting, can bring your space to life on a budget.
Staying at Home
Renovations are costly enough. They’re even more expensive if you have to pay for a hotel room or an Airbnb while the work is being completed. However, you don’t necessarily need to leave your house during a renovation. Some contractors are happy to work around you, as long as you don’t mind the noise and mess that comes with the work.
If you want to stay at home during renovations, make sure you have adequate insurance and the correct safety protocols are being followed. Hire professional contractors, as they have safety procedures that they’ll follow to keep you safe while work is being completed. Make sure your family knows what to do in an emergency and do your best to reduce exposure to dust and exposed materials.
You may find that staying at home is stress-inducing and disrupts your daily routine. If this is the case, consider booking an Airbnb during the renovations. Try to choose an Airbnb that is close to your work or home to reduce travel costs and look for a space with its own kitchen. This will save you from having to eat out every evening and help you relax while work is being completed.
Low-cost Materials
You can save costs by communicating with your contractor and telling them you’re working on a tight budget. Open communication saves time and money, as the contractor will know what is possible within the scope of your budget.
If possible, try to source some low-cost materials together. Be aware that refurbished and recycled materials may be less expensive to buy but cost more to install. This isn’t your contractor trying to pull a fast one on you — refurbished materials are often hard to work with and require extra labor, planning, and time.
Check that the refurbished materials you find are in good working order before you take them home with you. Turn-of-the-century tiles may look great, but if they crumble easily, they will never make it onto your kitchen walls. Be on the lookout for demolitions in your area, as old schools and government buildings can be a great source of timber and reusable materials.
Long-term Savings
Most renovations focus on aesthetic changes to your house. While these improvements may increase the value of your home, they usually do little to reduce your living costs. However, there are some renovations you can make to bring down energy bills and minimize your cost of living.
During a renovation, consider installing solar panels, new insulation, or double-glazed windows. These renovations can lead to long-term savings, as you’ll reduce the amount of money you spend on heating and electricity.
Just be aware that many energy-reduction renovations take years to recoup the initial cost. Solar panels, for example, take an average of five to 20 years to break even. This doesn’t mean you should avoid them altogether; you just need to consider your long-term plans and life goals.
Cost Effective Makeovers
It’s easy to get frustrated when money is tight. You’re living in your own home but can’t afford to lay out thousands of dollars for total home makeovers. Fortunately, there are still plenty of budget-friendly ways to transform your house.
Make your space a sanctuary by re-painting with calming colors. Choose neutral shades of:
- Blue
- Green
- Violet
- Gray
- Yellow
Use your furniture to create a color theme in each room, and try to bring out the pieces you’re most proud of.
If you’re crafty, consider renovating and repurposing old furniture and decor. Sprucing up an old sofa is a great way to make the space feel like home. You can even try your hand at antiquing if you want to find vintage pieces that complement your overall style.
Conclusion
Renovating your home shouldn’t break the bank. Start with a clear budget and set a timeline that works for your home family. Look for low-cost materials when possible, but be aware that old timber and tiles sometimes incur higher installation costs.
