Home remodeling costs an average of $18,161 to $76,367. Depending on the specifics of your project, you could be out for quite a few dollars when all is said and done.
Whether you’re planning a small or large home remodeling project, you can do more with a smaller budget than you might expect. However, you’ll need to have a clear strategy and will need to use a few tricks and savvy remodel ideas to keep your costs low.
In this thrifty homeowner’s guide, we’ll tell you how you can go about remodeling on a budget.
Follow The Plan
If you want to get away with a great renovation for a low price, then you need to plan it out well. Make sure that you set a budget and make a plan for your renovation, and then avoid altering it as time goes on.
Try to be as realistic as possible early on so that very few unexpected expenses come up. This will help minimize any surprises when you start working with contractors.
Choose The Right Contractors
A great home makeover starts with the right contractors, so be sure to hire carefully. Don’t just hire contractors based on price alone, but be sure that they offer the quality that you need for a great renovation.
You should ensure that any contractor you work with has a great reputation. Be sure to look for online reviews and ask family and friends for recommendations before making your choice.
When trying to stick to a tight budget, make sure that you communicate well with your contractors. Be clear about your budget upfront and look for a contractor who will work within it.
You should get bids from at least a few different companies before choosing one to use for the project. Once you have a better feel for the cost, you can then negotiate with your contractors using the knowledge you have about their competitors’ prices.
Expect The Unexpected
Unexpected expenses often come up during a renovation, so you should plan for this from the very beginning. You should cushion your budget to cover these costs and ensure they don’t set you back too much.
As a general rule of thumb, add a cushion of about 15% to ensure you’ll be all set to cover unexpected expenses.
Do Some DIY Work
Renovations can be tough to handle on your own, and many homeowners get in over their heads when attempting to go the DIY route. However, doing some limited DIY work during the project can be helpful.
If there are parts of the project that you’re comfortable with or if you can handle some basic prep work, then you could save a lot of money.
Shop Around For Materials
If you want to save money on your renovation, then make sure you do a lot of shopping around for materials. You can find more than you think at a thrift store or in a salvage yard, and this could end up reducing the cost of your renovation significantly.
If you want affordable flooring, you may want to opt for prefinished hardwood flooring since it comes at a lower cost than unfinished wood flooring. Check out our prefinished hardwood flooring collection to find the right flooring for your needs.
Successfully Remodeling On A Budget
If you’re remodeling on a budget, you’ll need to be strategic with how you approach the project. Be sure to create a clear plan and choose reliable contractors if you want to keep your costs low.
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