Do you know how to save money so that your home renovation budget goes further?
The secret to saving money is having a certain amount of ingenuity, a sprinkling of forward thinking and an ability to think outside of the box.
Looking for ways to save money really is worth the investment of time and effort and many people have managed to reduce significantly their home renovation costs simply by employing these hints and tips.
So, here are our best tips on how to make your renovation budget go further:
1. Keep things simple – we recommend that keeping things as simple as possible is one of the best ways of reducing your renovation budget. When you develop your home renovation plans it is easy to include elements which you would like to have without knowing about all of the costs involved. So it makes perfect sense to spend a bit of time exploring your existing plans to see if there are opportunities to simplify your proposals, which can lead to both saving in costs and time;
2. If its too cheap to be true, it probably is – material costs are going to eat into a significant part of your renovation budget. In order to keep material costs down it makes sense to look for bargains wherever they are available. If something looks too cheap to be true there’s probably a catch. Furthermore, if you’re looking to save money there’s always that temptation to buy the cheapest tools and materials possible available. Despite the initial saving this could wind up being more expensive in the long run. Budget equipment and materials such as cheap tools, adhesives and fastenings are simply not as long lasting as their higher priced alternatives. Furthermore they are simply not as effective and are more likely to bend or break. This means that you have to replace these items sooner which is an additional and unwelcome cost;
3. Do you really need a professional? – So many people who try to save a little money by using untrained and unqualified workers regret it. If you are working on a budget it is essential that you engage the services of appropriately skilled tradesmen who are able to ‘get it right’ first time. So, do not be tempted to save a little money by hiring uninsured, unqualified or inexperienced ‘handy-persons’. As “Red” Adair, the famous American oil well firefighter said “If you think it’s expensive to hire a professional to do the job, wait until you hire an amateur.”
4. Timing is everything – One way of making savings is to engage contractors during their quieter times of the year. Contractors may be willing to offer modest price reductions during these periods. For some trades that might be just after Xmas or new year, for example. Timing is also important when it comes to buying from the big box DIY stores. For best results time your purchases to coincide with in store or online ‘sales’, and take advantage of the savings offered;
5. Buy reclaimed and second hand materials – reclaimed and second hand materials can not only look great but they offer significant savings over buying new and off the shelf products. If you are creative why not consider getting involved in up-cycling (renovate and reusing) second hand furniture for your home;
6. Swap it rather than drop it – before you drop something from your plans, due to the expense involved, see if your budget will allow you to substitute it for something which is cheaper, but still of a perfectly acceptable quality. For example, reducing the cost of that second bathroom by installing a shower, instead of the bath you hoped for;