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How to Renovate a House on a Budget: 5 Tips for Saving Money

26 November 2019 No Comment

A young person buying their first house may need to compromise on a few things to find an affordable one. But that doesn’t mean they need to live with the compromises forever!

As soon as you sign the closing papers, you can begin planning a home remodel to update an ugly kitchen or brighten up a dull bathroom. You don’t need to break the bank either if you go about it the right way.

Follow the 5 easy steps below to learn how to renovate a house on a budget and make your starter house feel like a real home.

  1. Create a Renovation Budget Based in Reality, Then Stick to It!

You first need to estimate the cost of your remodel. That means breaking down exactly what you would like to do and figuring how much it will cost to do it.

Make a list of all the things you would do if money played no role. Then, contact several contractors and do research online to get estimates.

You should also take a hard look at your current financial situation. Be sure you decide on a renovation budget that makes you feel comfortable in the long run.

Always set aside extra money in case of unexpected expenses.

  1. Set Your Biggest Priorities

Once you’ve listed out all the renovations you would like done and weighed them against your budget, it’s time to start prioritizing.

Figure out your absolute essentials and what you don’t mind waiting to fix. You can always find more affordable alternatives so you don’t lose your whole vision.

  1. Don’t Rush

The majority of unnecessary expenses happen when rushing through a project. Take your time so you don’t have to do things twice.

Avoid doing all your remodel projects at one time as well. Start with one room or section of the house and finish those before you move onto another area.

  1. Do It Yourself (Where You Can Safely)

If you can do something yourself and do it safely, that will always be the cheapest option. You can find thousands of videos online.

Even if you don’t feel comfortable doing any serious tasks, you can still ready the space before renovation crews come in. Never forget, you pay them by the hour.

Even if you hire a same-day cleaning service like samedayrubbishremovalmelbourne.com.au in Melbourne, Australia, it’s often still cheaper than paying a contractor to do it.

  1. Reuse or Replace and Sell

Don’t be afraid of reusing materials that you like!

Do you love the inside of your kitchen cabinets, but hate the doors? You’ll save by simply replacing the doors to fit your style rather than installing entirely new cabinets.

If you do want to replace appliances or fixtures and the current ones are in decent condition, try selling them. You can apply the proceeds to the new purchase.

How to Renovate a House on a Budget: Focus on Personal Finance

Learning how to renovate a house on a budget comes down to one basic thing: understanding your financial situation. You can talk to all the contractors you’d like, but your remodel won’t happen if you don’t have the funds.

If you don’t feel like you have a good understanding of personal finance, check out the rest of our blog today. We’ll show you how to start focusing on finances so you can afford your perfect future!

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