Breaking the bank on a home renovation project is nearly everyone’s fear when it comes to remodeling. Regardless of how much you have budgeted, there always seem to be some horror story from a friend or co-worker detailing the nasty and expensive surprises they had to deal with in his or her home renovation.
However, with some strategic thinking about design, materials, and timing, you can rest easy knowing your home renovation will be beautiful without costing a fortune.
Here are seven ways to save:
1. Plan Ahead
While it can be difficult to plan for unknown issues, you can at least take preventative measures to ensure the renovation goes as smoothly as possible. A good rule of thumb is to build in a 20 percent cushion in the budget in case there are any renovation surprises, such as mold, termites, or water damage.
If your renovation is taking place in a home you are currently not living in, it is a wise idea to install a security system. Construction materials are one of the most items stolen because they are expensive. Instead of having to repurchase materials stolen from your home, consider investing in a security system. Not only will it protect your home during the process, it will also provide peace of mind when living in your new home. Check out http://homesecurity911.com/adt/Wisconsin/W/Wausau/ to see what services will be best for you.
3. Increase Efficiency, not Size
Adding on square footage is a costly task. Instead, look to maximize the space you do have by adding maximum functionality. Outfit whatever space you are renovating with built-ins and extra storage, especially when renovating a kitchen or bathroom.
Kitchen and bathroom remodels are some of the most expensive projects because of the cost of materials. Additionally, if possible, do not move the plumbing in either space. If you can work within the existing space and creatively add functionality, you will be saving yourself quite a bit of money.
4. Natural Light
Bright, airy spaces feel larger than they actually are. But, adding in a window can be pricey since it requires drywall removal and framing as well as the cost of a new window. A less expensive option is to install a “light tube,” which slips between roof rafters and funnels sunshine down into the living space.
5. Recyclable Materials
Using materials like reclaimed wood, or shopping at a ReStore, which offers salvaged and often times brand new items from construction sites contractors have donated can save you up to half on building materials and appliances.
6. Limit Recessed Light Fixtures
Although recessed lighting is handy, it is much more expensive than using wall or ceiling mounted lighting. In fact, mounted lighting generally offer more wattage than recessed lighting, meaning you can get away with fewer fixtures.
7. Contractor’s Sources
Contractors often have extra materials left over from job sites. Ask your contractor if he has any materials you can purchase off of him for the renovation. He’ll be happy to be rid of them and you’ll be happy at the price.