No matter how big your budget is, when doing a home renovation you should be very cautious of spending the right amount of money on the right things. Of course, refreshing your home is not only about aesthetics. It’s sometimes good to be straightforward and practical but you should also consider holding and even increasing the value of your home. Here are some useful tips and bits of advice on how to make your home renovation a worthy and enjoyable experience.
Tips and Bits of Advice
Before starting, it’s important to note the need for a pre-evaluation of what you want to do with your home and the budget you have at hand. With these two in mind, you can start about thinking about how to save the most you can without sacrificing the look you’re going after. To accomplish this, there are several steps that will guide you through saving more on home renovation.
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Create a budget and be strict about it
First of all, you should be aware that being on a budget has nothing to do with being cheap. It’s all about spending your money the smart way so making a spreadsheet with everything you want to change in your home along with some prices to them is a good starting point. If you’re planning on renovating your home, you should include everything from floor, faucets, lighting, countertops, cabinet hardware and etc. By doing this, you will have the advantage of levering between different kinds of materials and whether to choose them to be more or less expensive. In addition, you will be able to leave out some extra money on unexpected expenses, so you’d better bear that in mind when calculating your overall costs.
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Always pay in cash
Obviously, paying in cash is still the better payment way as opposed to taking a loan. You should avoid ending up having to pay huge amounts of interest so it’s safer to pay with money you already have unless you’re planning on selling the renovated house. Then, it might make sense to spend more than you have in order to sell “the product” and profit from it. However, you should stick to paying in cash at all times if possible. Otherwise, it’s a good idea to trim your spreadsheet and cut off some expenses.
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Don’t rush things
When you have the money, you might be tempted to renovate your home all at once. However, you might regret your choices so sometimes it’s a better idea to do it room by room, or at least by two. Also, think of prioritizing and planning your tasks from the easiest to the hardest so as to organize your time efficiently and will save you from dragging your project for years.
Additionally, doing the renovation in chunks is a smart move because you don’t have to spend all of your money which will definitely give you the chance to react to unexpected expenses without having to halt the work.
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DIY
Actually, this is the best way to save money on home renovation. In general, there will always be some things that even you can do yourself. If that’s the case, then you can easily save some money from the budget. Having moderate do-it-yourself skills can help quite a lot and YouTube will definitely become your best friend.
However, if you’re still unsure of your abilities, then you can always do the preparing for the home improvement contractors because, after all, they charge at an hourly rate. Also, you should be aware of the fact that there are some jobs that you shouldn’t do by yourself unless you’re licensed, such as electrical work or moving utility lines. These jobs should be done by professionals and you should keep out of trouble so as to avoid creating unnecessary problems and expenses.
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Enlist help
Well, this isn’t the ultimate advice, but if you have a neighbor or a friend that’s a plumber, a handyman or an electrician, you can try asking for a helping hand. Trading services is always a win-win situation if everything goes as planned. However, be mindful of who you’re asking for help as if you mess things up, you’ll have to pay to fix everything which will cost you money rather than save you.
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Be careful when hiring professional help
If you are planning on hiring a different professional for each job, then be prepared for a lot of organization mishaps and stress. No doubt, before hiring a contractor, you will have to make sure they are the right ones for the job. This involves reading reviews and interviewing different candidates. A good idea here is to wait for the off-season to hire a professional. This is because most hard jobs are left for the summer and you might find it hard to get a contractor take on your tasks. Moreover, they might give you a lower price in the off-season if they really need the job.
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Reuse and upcycle if possible
If you love your old cabinetry or appliances, then you should definitely find a way to reuse them. Of course, you can alter everything by repainting your cabinet doors or refacing entryway doors to change the style. By doing this you will not only upcycle your old cabinetry, furniture, and appliances, but you will also save a ton of money.
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Act smart when purchasing materials
In general, the best thing to do when purchasing materials is to care more about the impactful areas. However, finding the balance will ensure longevity and firm style. It all depends on your preferences, however, don’t rush things and spend all your bucks on doors and cabinets because then you’ll have no money to spend on hardware and the other way round.
On the other hand, there are times of the year when purchasing certain items is cheaper, especially when talking about home appliances and electronics. For example, holidays like Black Friday give us the opportunity to buy stuff at a much cheaper price. A good idea is to research the best time to make your purchases.
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Sell items you’re not using
Pretty self-explanatory, make sure that you profit from the throwaway stuff that you don’t need anymore. The easiest way to earn back some of the money you’ve to spend on home renovation is to try and sell your old furniture and appliances, like fans, ceiling lights, fixtures, cabinets, doors and hardware and etc. If you don’t need the money, you can always donate them to those in need.
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Other costs you should consider
When planning your home renovation, always bear in mind that there will be some unattended expenses that may add to your budget. Sometimes it’s hard to predict what can come up but if your home is old, then you can expect that plumbing, electrical or even wall material might need an updating. However, it’s sometimes hard to realize anything until you begin opening up walls, so it’s best advised that you leave some money for such occasions. Also, make sure you leave a small chunk of the budget for minimal fees such as building permits and etc.
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You don’t have to change everything
Finally, you don’t have to change your sinks, bathtubs, stoves, walls or even windows to renovate your home. If you’re happy with a particular element of your home, then don’t remove it. Obviously, you’ll save a lot more and you won’t have to try hard to be “brand new”. The main idea here is not to avoid new things, but to make sure these items can be easily replaced or changed when needed. Also, it’ll be a lot smarter to spend only on the things you want.
Final Thoughts
Even though home renovations can be a real challenge, when completed, they are truly rewarding. With the right mindset you can do wonders with your home and why not save some money along with that. Obviously, taking the step of upgrading your home will certainly take out a chunk of your budget but you can always express yourself without having to spend a fortune on things you won’t need or like. However, if you’re from Singapore and looking for somewhere to start from, Swiss Interior offers a wide range of home renovation packages.
