Save Money While Renovating? Renovations cost a lot of money; there is no doubt about that. Once you decide to renovate, you already submit to the fact that you will be forking a lot of money towards the improvement of your house. But why do homeowners still renovate? The answer is simple. Homes are great investments, and once you renovate to update or improve your home, you know that the results will last for the long-term. But it is important that even in renovating, steps are still taken to keep costs at minimum and you should not allow the costs to balloon unnecessarily.
To begin with, focus on renovating the parts of your home which have been irretrievably broken. These are the parts which just have to be renovated because they have become dangerous to the safety of the homeowner, or are no longer functioning properly thus causing the homeowner a lot of distress. For example, some steps of your stairs might have been broken after a lot of wear and tear and now require restoring, or maybe the ceiling of your house may have started to leak.
These renovations are not negotiable and should be acted upon as soon you as you have the financial means to do so. You can instead, focus on saving money during renovation by using new alternative materials. This does not mean that you will use only cheap materials, as this may not be wise and sustainable in the long-term. Only choose the alternative material if it will function close to the original.
For example, if you’re choosing wood to build a few cabinets, explore the possibility of whether you can use beech instead of Cherry. Cherry may be naturally beautiful but maybe you can buy beech instead and stain it to make it look like cherry. Although beech may be a bit heavier and harder to work with, its price is definitely more attractive when compared to that of cherry wood. The same idea of going for the cheaper but equally functional alternative also applies to renovating floors.
The bottom line is that renovations are quite costly. Yes you can save money in the long-term by choosing materials of lesser quality, but it is important that you evaluate correctly whether the cheaper alternative that you choose now will be costlier in the long-term. Saving money now but spending more eventually is not a feasible option. Costs can also be kept at a minimum by only renovating the areas needing of immediate attention.
If some parts of your home are still quite livable, then it is best that you still work with what you have especially in the current economic climate.
Building or renovating a home. We can help. We provide you with all the tools you need to get through the building and renovating process. We want you to consider us your very own virtual architectural assistant. If we can help you any way please feel free to contact us.
Picture from: https://www.sunpacificmortgage.com