Personal finance

7 Ways to save money while renovating your home

Are you thinking about renovating your home? Well, it can be pretty costly if you don’t have proper planning. Before you start renovating your home, you want to make sure that you don’t make your home renovation project costly. There are certain ways you can utilize to save money while renovating your home. Here, we have described a few of them:

1.  Define your budget

decide budget for renovating your home

You need to make a budget before you start the home renovation. Consider the cost of plumbing, electrics, furniture, appliances and building work. Make sure you don’t run out of the money in the middle of the renovation project.

Decide how much saving you want to invest in home renovation. Stick to your budget no matter what. For accurate budget planning, you can create a spreadsheet of things you need to purchase. This way you will be able to know which areas of your home renovation are costing you more.

2.  Recycle and repair

recycle for renovating your home

You don’t need to just throw away your old furniture. There are plenty of ideas available on the internet to recycle them. Use those ideas and recycle your furniture. There will be some furniture that would be requiring repair. You can repair them with some tools or give it to professional to repair it.

Check out How to beautify your home with DIY tips here.

3.  Do it yourself

do it yourself renovating your home

We are not telling you to do all the stuff by yourself. You can learn some DIY skills from YouTube and try doing some home renovation by yourself.  When you hire someone to do the work for you, it will become a little costly.

Yes, remember – never do electrical or plumbing work unless you are qualified for it. If you don’t have enough knowledge about it, it can put you in danger. In case, you are planning to tear-down walls and installing load-bearing beams – make sure you have the permit. Do what you can by yourself to save money.

4.  Sell out and buy second-hand

buy second hand furniture for renovating your home

There will be definitely some old stuff in your home remaining unused. Many online websites provide service of “buying and selling” old stuff. You can sell out those furniture or any other things from your home to get some amount of money. In case, you have a tight budget, you can buy second-hand products as well. You can sell out stuff like old kitchen cabinets, hardware, doors, and other appliances. This will help you to keep up with the budget.

5.  Hire the right people

hire people for renovating your home

There are some tasks in home renovation which requires the help of professionals – like plumbing and electrical work. If you are looking for a contractor to renovate your home, make sure to negotiate the fees. You should hire an experienced architect as a novice architect’s mistake can cost you a lot.

Their fees should fit in in your budget. Hire the right people for your home renovation. To save your money, you can plan home renovation in the off-season like after holidays and before summer. In this period, they are looking for work so you will be able to get a better price.

6.  Re-use

reuse stuff for renovating your home

Refurbish is a concept you can try while renovating a home. You don’t need to replace everything with new stuff. Let’s say you are renovating your kitchen. You can re-use cabinetry and some of the appliances. With your DIY skills, you can re-use any material and furniture you like. For example, you can see in the picture how an old sewing machine can be used as furniture.

7.  Have long-term planning

planning for renovating your home

Sometimes, we get too focused on saving money while renovating, that we tend to choose a cheaper option. In this case, once you buy something cheaper, there is no assurance of quality and how long it will last. For example, you don’t need to spend your whole budget on solar panels. Instead, what you can do is use LED lights and rainwater tanks. Think about long-term saving and plan accordingly.

So these are some of the tips to save money while renovating home. If you have started the home renovation, make sure you consider these tips.

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