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11 Ways To Cut Renovation Costs

11 Ways To Cut Renovation Costs

 

Renovations are expensive, but there are ways to cut costs without ending up with a sub-par result. While you are in the planning stages of a renovation, these 11 tips are good to keep in mind if you want to shave a few dollars off of the final bill.

 

  1. Create your budget and stick to it. It is a good idea to factor in a small percentage (around 10%) for flexibility.
  2. Define your project buy making a comprehensive list of exactly what you want the end result to be. A great way to begin this step is by collecting images that clearly show the look you want to achieve at the end of your renovation. This way, you will go in to your contractor shopping phase with a clear vision and budget in mind.
  3. How handy are you? Decide what portions of the work you need a contractor for and what you could potentially do yourself, such as painting. 
  4. Shop around for a contractor. The best way to find a contractor is by referral. Talk to friends and family as well as utilize your social media to collect first-hand information about contractors in your area. Try to get at least 3 estimates.
  5. REUSE AND RECYCLE! This is an earth-friendly way to change up your space while making sustainable purchasing decisions. Either repurpose materials you already have or have already salvaged for a unique touch. Habitat for Humanity ReStore [https://habitatgo.com/restore/] is just one way to find gently used home furnishings, appliances, and renovation materials at great prices while supporting an amazing organization! 
  6. Speaking of Habitat for Humanity, Habitat ReUse program allows you to donate gently used materials such as interior and exterior doors, kitchen and bathroom fixtures and cabinets, washers, dryers, refrigerators and much more. It costs money to dispose of waste from your renovation, so why not see if you can donate elements that are still in good shape! 
  7. Shop around for building materials. Although your contractor has access to wholesale prices that you may not, the internet is a wonderful place to do some research from the comfort of your own home! 
  8. Talk to your contractor about possible negotiations. Perhaps there are discounts for quick payments or a more extended time period to complete the job.
  9. Book your renovation during the quieter season. For example, most people schedule having a new deck put in during the spring or fall, so book for the middle of the summer. Supply and demand can have an impact on price. As a general rule, the busiest season for contractors is April through June as we are all coming out of our winter slumber and are ready for change. 
  10. Purchase furniture and appliances during sale periods. For most indoor furniture, the best times to shop are end of Winter (January and February specifically) and end of Summer (August, September, and the beginning of October) as retailers are looking to get rid of old stock to make space for new. The best time period to purchase large appliances are September to October as this is the time of year that most manufacturers unveil their latest model. This means that sellers will hurriedly be putting appliances on sale in anticipation of the space they will need (the one exception to this is refrigerators. New refrigerator models are available for sale in the summer, so retailers are clearing space in May). Other dates to keep in mind are Black Friday, Boxing Day, January sales, and big holiday weekends.  
  11. Be your own delivery person. If you have the extra time and a vehicle capable of transporting materials from the source to your home, why not save on the additional cost?

 

Whether you are renovating your forever home or in preparation for a move, these are just a few great ways to save a few dollars on the final bill. If you want the names of some great contractors or resources, give us a call!

 

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