Smart Ways to Remodel Your House While Staying Within Budget
It’s no secret that remodeling your home can cost you a pretty penny, but when you are selling your home it may be a necessary step in increasing your property’s value. If you are planning to remodel your home, but are on a tight budget, consider these money-saving tips to that can save you time and money.
It’s never too early to start planning.
Before you remodel your home take the time to look at different designs and amenities such as appliances that you may want to add to your home. Pay close attention to what things cost so that you have a good idea of what your budget may be before you contact a contractor. Once a contractor comes into the picture, he/she will estimate costs and give you an “allowance”. An allowance is any extra amount of money set aside for unforeseen costs or for items you don’t know the exact price of. If your contractors allowance is too low you may end up with costs over and above the allowance. However, if you have a good handle of the costs of the items you want, you won’t be surprised if there are cost over runs and may be able to negotiate a better price for some items than the price your contractor is offering. Most of the time contractors pay wholesale for products and raw materials, this should lower the overall cost.
Get the natural light you need without building costly windows.
For buyers, finding a home that receives an ample amount of natural light is a huge plus. If your home does not have as much natural lighting as you wish it did, constructing new windows is the most obvious solution, but windows can cost a lot to install. Instead, consider installing “light tubes” (also known as: sun pipes, or tubular skylights) which are less expensive and also make for great lighting decoration on ceilings and walls. Light tubes are similar to sky lights but they’re installed between the roof’s rafters and transport light to any living space in the home. Light tubes require much less construction and much less money as they require less installation space. Instead of spending more money on electric bills with traditional light bulbs, this natural lighting solution has the potential of saving you money.
Focus on the structural parts of the house.
If your home is really outdated, updating rooms in your home may require a complete rebuild of their structure. If that’s the case, it may be in your best interest to replace any out of date plumbing, electrical, mechanical issues first, since you are going to have to do so anyway. This way, you are not wasting your time and money having to redo the work due to some structural issues; your home will be completely updated, and ready to sell for the most money.
Don’t move any sinks or toilets.
While it is unavoidable, do your best to keep your sinks and toilets exactly where they are. The change in plumbing can really hike up costs, and should only be done if it’s absolutely necessary. The additional costs to moving a toilet even a mere three feet can cost anywhere between $500 to $1,000 when you consider all the steps and procedures that go into relocating the plumbing. You should also consider if moving a sink, toilet or any major structural change is going to increase the value of your home. Remember, the goal is to improve your home so that it is more appealing to buyers, while minimizing costs.
Offer up some elbow grease.
Doing some parts of the remodel yourself can help save some time and money. If you know what you are doing, offer to help out with parts of the project such as demolishing a wall, that do not require much technical capability. You can also consider taking over clean up duties at the end of the day to save money paying workers for those extra hours, this way they can spend their time working on more detail oriented things like window installation, plumbing, etc. Most contractors won’t mind having you play a part in the remodel, but remember to leave the technical stuff to the professionals, that is what you are paying them for. Before you do any remodel on your home you should always do a cost benefit analysis, if the remodel does not improve the value or the sell-ability of your home then it is not worth the expense.
Would you use these tips to save money on your home remodel? Let us know in the comments below.