Home Improvement

3 Tips for Saving Money On Home Upgrades or Renovations

May 12, 2018 Joseph Hernandez 0Comment

One of the nicest things about owning your own home is being able to make changes or updates whenever you want. However, many people find that their financial situation dictates how often or how high of quality they can make these renovations. Luckily, there are quite a few things you can do to help cut down some of these costs and still get the exact home of your dreams. To show you how, here are three tips for saving money on home upgrades or renovations. 

Use Existing Plumbing 

If you’re hoping to make a major change in one of the more expensive rooms of your home, which usually includes the kitchen and bathrooms, you’ll be doing yourself a big financial favor if you can commit to keeping the plumbing where it currently is. According to James Glave, a contributor to This Old House, moving plumbing fixtures can be one of the most expensive parts about doing renovations. However, if you can put your plan in action without having to move your toilet to a different location or move your kitchen sink to a different wall, you’ll be able to save yourself thousands of dollars that you can then put somewhere else or just leave in your bank account. 

Know Where To Spend The Larger Chunks of Money 

When you’re planning to do some major renovations, you’re likely going to be spending a pretty penny to get the final product you’ve envisioned. But to make the most of this money, it’s important to know where you should be spending the majority of your budget and where you should be looking for deals and savings. According to Sarah Lonsdale, a contributor to Remodelista.com, most homeowners do themselves a disservice by spending money on a gourmet kitchen. In general, getting basic upgrade appliances will increase the value of your home just as much and save you money on the initial cost. So rather than spending your money here, take a bigger piece of your budget to go toward countertops or cabinets. 

Put Limits On Your DIY Projects 

While you can save yourself a lot of money by taking on some renovations by yourself, it’s vital that you know where you limit is when it comes to properly doing work on your home. According to Daniel Bortz, a contributor to Realtor.com, most people can do smaller updates on their own without any problem, like painting a room. However, for this like putting in new flooring or any work that requires a decent amount of knowledge, it will be best to leave those to professionals. While you’ll have to pay for the labor, that’s better than trying to do the project on your own and then needing to hire a contractor to help clean up the mess you made.

If you’re looking for ways to save on home renovations, consider using the tips mentioned above to help you do just that.

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