Save Money on Home Renovations
Your home renovations will hopefully add value to your home – both by making your space more enjoyable and convenient for you while you live there, as well as by increasing the resale value when you do decide to move on. Two of the best spaces in which to invest are the kitchen and the baths – these two spaces will increase your home’s value more than any other spaces and help to fetch your home top dollar.
That said, to truly make the renovation a good investment, it is important not to spend frivolously and to save money where possible. This will also help your wallet in current time. Some tips for saving money on renovations include:
The building materials are likely the second most expensive portion of your renovation, so shopping wisely is a quick way to save money. There are some splurges that may be worth it; for example, going for that built-in cooktop in a new kitchen island, rather than a standalone oven and cooktop. However, when it comes to building materials, it may make sense to make some swaps. For example, rather than going for the full-out travertine tiles, consider using a ceramic version instead and incorporating travertine sparingly as accents. Or, rather than the imported Italian marble, consider a domestic manufactured version.
There are many materials you will need to decide on and, depending on your market, it may or may not make sense to go all out. If you are in an entry level neighborhood, it likely doesn’t make sense to go for top of the line materials – instead, make smart swaps to purchase less expensive materials that will still be beautiful in your home.
If there is a material that you are in love with, but that is out of your budget, do some shopping around. There are many local suppliers that have beautiful materials, often at a lesser cost than the building material super stores. Visit multiple locations to find availability and whether there are price differences
Mass builder warehouses, such as Lowe’s or Home Depot are a convenient place to secure most of the items you will need, however are not necessarily the cheapest or best value. Most contractors will receive contractor discounts, so, assuming they do not add a markup to materials, consider letting your contractor know which materials you would like and having them purchase them on your behalf.
If you do need to purchase your own materials, the U.S. Post Office address change packets sometimes offer coupons for the mass building materials warehouses – consider picking up a pack from your local post office; you may luck out. Alternately, Home Depot and Lowe’s do provide a coupon via email when you subscribe to their email lists; planning ahead for your project will allow you to go to the store with a comprehensive list so that you can receive 10 percent off your entire purchase. While 10 percent may not be a lot when purchasing just a few items, it quickly adds up to a large savings when completing a full-scale kitchen or bath renovation.
Don’t be afraid to ask for a deal – sometimes, all you have to do is ask. Many – but not all – local suppliers are willing to negotiate on actual material costs, especially if you are purchasing in bulk
Also, many stores will have a clearance area – check these areas before you even look at the rest of the show room. Keep in mind that some items may be in the clearance or sale section due to limited quantities, so make sure to find out exactly how much of a given material is available to ensure there is enough to complete your project