Renovation costs can add up quickly and today I am sharing my top 5 money saving tips for your next big home project. After flipping four houses and renovating our current home, Chris and I have learned lots of ways to save money with each project we take on. These five tips are some of the biggest money saving tactics we use with our home renovation projects.
If you only remember one tip from this post, make it be this one! Ask your vendors how you can save money on your project and the best time to make the purchases. We worked with Home Depot to bring our kitchen design to life and the initial quote was WAY too high. I simply asked the kitchen designer how we could save money on the design. There are so many ways to edit a kitchen design to make it more affordable.
Maybe you change the cabinet brand or get a less expensive countertop. Carefully go through the purchase list and see what is not necessary and eliminate it. You will quickly realize that some of the small additional features you included can have crazy prices. With our original kitchen design, we had corbels included under the island counter and the upper cabinets. The corbels that were offered by the cabinet brand were expensive and quickly added up to almost $500. We tweaked the plan and decided to buy non-branded wood corbels and paint them after installation. This cut the cost by more than half. In the end, we decided to scrap the corbels all together because they were not necessary for the counter overhang and one light switch was in the way of one of the corbels.
Do Your Own Demo
Demo is fun and can save you hundreds on labor costs. Of course, you must be careful of electrical and always consult an expert when removing walls, but tearing out a kitchen or bathroom is doable for even the least handy people. Remember to rent a dumpster before demo day so you can remove the debris quickly and easily.
Before you tear apart a room, think about how you can reuse or sell the items currently inside it. In our kitchen, we carefully removed the old cabinets and are saving them to reuse. The dishwasher in the original kitchen was in working condition so we reused it and saved a few hundred dollars. The original fridge is also being used in our garage. In one of our master bedroom renovations, we re-used an old builder-grade mirror and added a frame.
In other renovation projects, we have not had the budget to execute the exact design in our heads. Even if you can’t do an entire room renovation, you can still work with what you have. We kept faux wood walls in our family room because it was not in the budget to remove and replace the drywall. We drastically improved the space by painting the wood white and making it work for our family.
Color Match Paint
If there is a color you love that is made by a very pricey paint brand, remember that all local paint stores will color match. We have frequently done this in our flip houses where we choose a color by say, Benjamin Moore or Sherwin Williams, and then choose a less expensive paint to color match at our local Home Depot. If you are painting an entire house this will add up very quickly and save you a lot of money. I would also recommend signing up for the expensive paint brand email list to know when they have 40% off sales.
If you are landscaping your yard, consider sharing plants with friends and family. There are many species of plants that can easily be split into multiple plants. Hosta plants are extremely hardy and a great option to try out. They come in all different shades of green and are great for filling a flower bed. Sharing plans with others is one of the best money saving tips to improve your curb appeal.
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