Renovations often lead to unexpected costs, and many homeowners are worried about blowing their budget. Luckily, there are various clever ways to keep lows low when remodeling your home. Here are some top tips to help you renovate on a budget and still have an outcome that you love!
Upgrade Instead Of Remodeling
Upgrading instead of remodeling is one of the easiest ways to save money on home improvements. Look for ways to update your existing decor and enhance your home without having to fork out on large-scale renovations. Taking this approach could save you thousands of dollars. According to Remodeling’s 2021 Cost vs. Value Report, “the average cost for a minor kitchen remodel is $26,214 compared to $75,571 for a major kitchen remodel.”
There are countless ways to spruce up your kitchen for less. For example, heading to the granite worktops Knutsford shop and just replacing your existing worktops can transform your entire room. Furthermore, if you were to upcycle your existing cabinets, it can save you time and money and help the environment. Replacing or resurfacing your cabinet doors can bring about incredible results and transform your kitchen space without the need to splurge on a brand-new kitchen.
Choose Projects With A High ROI
When planning renovations, it is essential that you choose projects with a high ROI (return on investment). Home improvements are expensive, so you need to do your research and invest in renovations that will add long-term value. Keep in mind that the key goal of any renovation project should be to increase the value of your home. Take a look at this article by FortuneBuilders for the ten best home improvement projects that deliver the highest returns.
Plan For Unexpected Costs
Unexpected costs can blow your renovation budget and leave you in a difficult situation financially. Therefore, you must plan for unexpected expenses and allocate your budget accordingly. Most experts recommend adding a buffer to your budget of between 10 and 25%. This is especially important if you are renovating an older house, as you are more likely to encounter issues. Having a buffer will give you peace of mind knowing that you have cash available to cover unexpected expenses.
Take A DIY Approach
Taking a DIY approach will reduce labor costs and make house renovation projects more affordable. However, it can end up costing you more if you don’t have the skills or expertise to do a quality job. If you want to take a DIY approach, then make sure you have a clear understanding of the project and buy essential tools and equipment before you start. If in doubt, then it’s probably safer to hire professionals. You can use price comparison sites to compare builders in your local area and find the best prices.
Renovating a house is never cheap, and you need to have a realistic idea of how much improvements will cost. Doing your research and planning home improvement projects will help you save money and keep renovation costs under control. These tips will help you plan affordable home improvements and stick within your budget.