All homes age differently, but nonetheless, there will come a time where your home needs an upgrade. While it may seem like a daunting task at first, balancing a needed renovation and a tight budget can be done, while still making your dream home look up-to-date. By doing extensive research prior to the start of the renovations, you can save a lot of time and stress while the projects are occurring. It is important to establish a strict budget, and it is crucial that you do not “stretch” this budget for unnecessary additions. Listed below are some helpful tips and strategies for renovating a home, both efficiently and economically.
Paint, Paint, and More Paint
So many apparent issues with your home can be solved with a fresh coat of paint. While you may think you have a lighting issue and need to replace the fixtures, a simple lighter coat of paint can brighten a room more than you could ever imagine. A gallon of paint can be purchased for around $30, which is nothing compared to what you could spend to alter the light fixtures around the home.
Use Green Materials
Although the costs of efficient home materials may be more initially, you can save thousands in the long-run by using high efficiency appliances, such as a new dishwasher. A new dishwasher can cost around $400, but what many people do not realize is that by using a low-efficiency dishwasher, or even doing dishes by hand, you are using much more electricity and many times more water. In fact, according to the Natural Resource Defense Council, you use up to 27 gallons of water per load when doing dishes by hand, as opposed to three gallons when using a high-efficiency dishwasher. Additionally, many utility companies offer rebates for using high-efficiency appliances.
New Cabinets May Be Unnecessary
One of the biggest expenses in updating a kitchen, or a full house for that matter, is installing new cabinets. However, often times, the old cabinets are structurally sound, but the outdated looks make everyone believe it is time for an upgrade. You can save thousands on your renovation by opting to paint the old cabinets, rather than completely overhauling them. Often times, a fresh coat of white paint on the kitchen cabinets will make them look brand-new, and when renovating on a budget, this is a no-brainer.
Avoid Rearranging Large Appliances
Often times, something that seems small, but can cause a large dent to your budget, is rearranging large appliances, such as dishwashers, stoves, etc. With moving these appliances, you often will have to pay for additional wiring, plumbing, etc. Along with the costs of just servicing those areas, there are additional hours of labor that you must pay a worker for. If possible, keep large appliances in the same general location when you upgrade, as this will save you time and an unnecessary headache.
Open a New Rewards Credit Card, then Pay it Off Instantly
A creative way to save money on your renovation is to find a great deal on a new rewards credit card. If you have the cash saved up over time for this renovation, instead of paying with that cash, put the renovation costs onto a rewards credit card, and pay it off instantly with the cash you had saved already! By doing so, you will still pay off the renovation in the same time, while also likely receiving a large sum of cash in the form of Credit Card rewards. Many Credit Card companies offer bonus points for spending a certain amount in the first three months, a mark you will most certainly hit during a renovation. So if you are spending the same amount anyway, why not receive something for doing so?
A home renovation can be one of the most stressful times in your life, if not planned out accordingly. By establishing a strict budget, and by being smart with your renovation decisions, you can have your home looking brand new without losing your life-savings or going into considerable debt. Only replace what is necessary, because most likely there is a cost-efficient way to save many items in your home without getting rid of them. By following the simple rules above, and by effectively planning, a renovation can be quick and painless.