How to Plan a Home Renovation on a Budget

How to Plan a Home Renovation on a Budget

The most important thing to consider when planning a home renovation is how much money you’re willing (or able) to spend. If this is your first home renovation it’s natural to feel overwhelmed and wondering if it’s something you can afford. While seriously considering your finances is recommended for this type of work, more often than not it is something you can afford so long as you have a budget.

Start by looking over all of your finances and carefully considering what type of work you want done on the home. Repairs are usually the first thing to consider. When you have a scope of what you need done, you can research typical costs for the work, decide what you’re able to spend, and then get estimates from local contractors.

Other things you can do to try to lower the costs include:

  • Opt for lower-cost alternative materials.
  • DIY some things yourself.
  • Wait for the right time.
  • Wait until peak season is over (e.g. when pool repair or installation is needed).

Prioritize What You Need

Repairs on your home should always be the number one priority; pretty much everything else can be secondary. Repairs not only help increase the value of your home–depending on the repairs, they may also keep your home safe and inhabitable.

There may be a number of repairs you need, so we recommend going through your home and taking inventory of any work that needs to be done. Go through each room and take note of any detail that isn’t working or is in need of an update. Prioritize what is most important whether it be a safety issue, hazard, or another obvious detail that may prevent your home from upholding its value.

Research and Get Estimates

Start by researching the typical range that each repair or renovation may cost you. Once you have a fairly good understanding of what the average costs are for the work, you can move on to researching contractors. 

Try to get quotes with at least 3-4 different contractors and make sure we–Reliable Home Remodeling–is one of them! We recommend being as thorough and clear as possible for the work you need done. Whenever possible, try to have exact measurements, dimensions, and more readily available to help you get the best pricing available.

Look for Cost-Saving Opportunities

Don’t be mislead by higher end materials or simple services that come at a price. There isn’t any reason to go for a higher price right away. Take your time to research your options thoroughly and you may be surprised to find out you can do it yourself or spend less and still have a nicely completed renovation.

DIY What You Can

Depending on how handy you are, you may be able to DIY some things yourself. While we don’t recommend DIYing major projects, some things like painting rooms or the home may be doable after a trip to Home Depot. 

Other things, however, like moving a bathroom into a separate area of the home, should be better left to professional contractors. Feel free to call us if we can be of assistance.

Opt for Savings

There are many ways to save money when planning a home renovation on a budget, from shopping sales to choosing lower cost materials and waiting for the right time to buy. 

Shop Sales and Clearance 

Sign up for Home Depot, Lowe’s, PC Richards, and other appliance store newsletters to see when materials, fixtures, or other appliances go on sale. Check what inventory is on clearance as well; you’d be surprised by how much you can luck out on with a little persistence and diligence. 

Reuse What You Can

Any time you have fixtures/appliances that are still in good condition, try to reuse or keep them for as long as possible. There’s no need to replace what isn’t broken, and you may save a lot of money by doing so.

Opt for Low-cost Materials

You don’t have to go for the higher end options. Opt to research lower-cost materials that look impressive and complement your vision. Some budget friendly material options include ceramic, porcelain, vinyl, laminate, or prefinished or prepainted home remodeling materials. 

Consider the costs of quartz and natural stone–quartz is generally cheaper. Laminate flooring can save you at least 23-25% over hardwood floors as well. For the bathroom, you may also want to consider tile instead of high-end shower inserts. 

Wait for the Right Time

Sometimes it’s better to stagger projects throughout the year to prepare for the expense. If it can wait, you can even find a contractor during the quiet season. This is especially true at the end of the summer season for pool installations or repairs. Likewise, you might be able to start preparing by getting materials on or around Black Friday and year-end holidays.

When working on a budget, it’s better to see renovating your home as a process so you have time to prepare and spend according to your budget.

We’re Here All Year

Refreshing your home doesn’t have to mean going broke. You can renovate affordably through a little research and waiting for the right time. Focus on what’s necessary and figure out the rest as you go.

Reliable Home Remodeling is here to assist you all year, any time of year, to assist you with your home renovation projects. Give us a call when you need an immediate estimate.