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Ways to Save Money on Home Renovation Projects

July 4, 2019

Most people here the word renovation and gasp knowing that the cost will consume not only their entire savings but more than likely a lot more money that they don’t have. While many renovations can run well into the tens of thousands, especially if it’s a kitchen remodel, DIY projects don’t have to cost even half of the estimate you may receive from a contractor. 

Do Some of the Work Yourself 

If you are willing to do some of the work on your own you can cut the cost of a remodel by better than half. However, when it comes to updating the actual plumbing or electricity, for a bathroom or a kitchen, unless you know someone who is a plumber or an electrician, you’re better off hiring a professional. 

A Fresh Coat of Paint 

In any room, a fresh coat of paint can change the appearance completely and give it a new look. And, if you want, you can create a border, or a two-tone wall to add contrast. All you need is the paint, rollers, brushes, tray and painters tape. 

Hardwood Floors 

Nothing beats the look and feel of a home with hardwood floors. They add beauty and character and are surprisingly easy to maintain versus carpeting. If your floors are less than desirable, you can use a buffer and then a couple of coats of finish to restore your floors to like-new condition. This is a project that you can do in a single weekend, and acquire long-lasting results for a nominal fee. 

Kitchen Upgrade 

If your kitchen is outdated and you want to bring it to the 21st century, you can do so by adding new appliances and countertops. If you don’t have the cash or you don’t want to part with your savings, you can opt to rent and then own appliances for a lender. This way the payback amount is small monthly and you get brand new appliances. If your existing cabinets are in good condition, as in most cases, you can simply apply your desired color of paint and then change out the hardware. Add a new hand-applied tile backslash and your kitchen is complete for just a few thousand dollars. 

Don’t Discount Second-Hand Offerings 

Many people want a new piece of furniture or accessories for their home. And, while somethings certainly should be new-to-you like a mattress, furniture is one of those things you can buy used. Visit the local thrift shop or google online second-hand stores that sell used pieces in good condition. Even if you need to change the color and replace the hardware to coordinate with your existing decor, it will save you money. You can also check the local paper to see if anyone is having a garage or an estate sale. 

Creating Additional Storage 

Lack of storage is a problem for many homeowners. If you have a basement,  you can build storage shelving units instead of paying for prefabricated kits that can cost upwards of five hundred dollars each. The nice thing about this DIY project is that you create a customized storage space, designed specifically for your home. You can do the same thing with any existing closet. By simply measuring the space and then acquiring the supplies, you can design storage that suits your needs. 

You work hard for your money, and spending it wisely should be a goal you look to achieve. The good news is that even when you need to overhaul a room in your home or create added storage space if you are willing to do the work on your own, you can do it for just the cost of the supplies.  

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