Ways To Save Money On Home Improvement
Saving money on home improvement appears to be one of the main desires of people who are thinking about changing up their home for the better or even building their own custom home, and rightfully so.
Money has always been a massive factor in home improvement and nowadays it’s even more vital.
While a home improvement project could be one of the most expensive costs the everyday person will make in their lifetime, there are a handful of smart ways to save on home renovations, extensions, conversions and new builds.
We’ve compiled this list of some of the great ways people are saving money on home improvement projects all over the country.
Take Your Home Improvement Budget Seriously
The famous B-word of home improvement, budget is arguably the greatest opportunity for you to save as much money as possible. Some people don’t budget home improvements properly which costs them in the long run.
Your budget is your opportunity to map out your expenses before getting started, i.e., before any money is actually spent, so use this time wisely.
A great way of taking your home improvement budget seriously is by creating a budget spreadsheet to keep track of the materials you need, the jobs to be completed, the fittings that need to be ordered, and the price tag of all of these things.
If Excel isn’t your thing, there are plenty of downloadable spreadsheet templates online that you could use.
By creating this spreadsheet and adding in all of your data, you can identify areas of your project that are eating too much of your budget and cut/limit costs where you can see opportunities to do so.
Remember, some people also like to save a part of their home improvement budget for any costly surprises that may rear their ugly heads. Some like to keep a just-in-case sum of 10% of the original budget and others say 20% is best, but really it’s up to you.
Choosing The Right Payment Method For Home Improvement
When it comes time for you to pay up, it begs the question, how will you pay?
This may be obvious, but if you have the money saved up, use it. It can be difficult to part ways with a large amount of money you’ve worked incredibly hard to save, but it for sure beats taking out a massive loan with outrageous interest rates.
Though if you are improving a property to later make a profit off of said property, then you can possibly open yourself up to more home improvement financing options – if you know you will see a return and can get any borrowed money paid off quickly.
So if you don’t have much put away for some home improvement, ask yourself if you could put your project on hold for a while, and, in the meantime, build up that pot of savings.
Saving Money On Home Improvement Through DIY
Doing it yourself has its advantages and its drawbacks. And while we don’t suggest you take on a whole home improvement project yourself (unless you have the skills to do so), it can be a good idea to DIY where you can.
Many people have relied on savings strategies with DIY home improvement to hold on to a few pennies that can be used elsewhere.
Certain jobs – such as electrical and plumbing work – require a reliable professional, but there are some small DIY home improvement projects you could take on to save some labour costs, such as:
- Painting and decorating
- Installing easy fixtures, such as shelves
- Refreshing your garden
- Updating door knobs and handles
- Installing a new front door
- Pressure washing exterior hard surfaces
If DIY is not something you’re comfortable doing, it’s important to know that some jobs are super easy and tutorials can be simply found on YouTube.
Home improvement and DIY aren’t always a great mix, but if you’re confident, capable of learning a new skill, and have the time, you can definitely be saving money on home renovation through DIY.
Smart Shopping For Cost-Efficient Home Improvement
If you’re doing the shopping and buying for stuff you need, such as materials, then let us enlighten you with some smart buying tips for affordable home improvement.
- Don’t leave it until the last minute – Whenever your build is planned for, you should always buy early. This gives you time to shop around and avoid the risk of you having to pay expensive rates for the things you need because that’s your only option.
- Use Different Suppliers – You don’t always have to use the same supplier for everything you need. Different suppliers may be cheaper for different things, so don’t be afraid to mix and match suppliers.
- Discounts and deals for home improvement – To save money where you can take advantage of seasonal sales and different times of the year to buy certain things. Here’s a handy guide on what home improvement pieces to buy throughout the year.
- Buy tools second-hand – Most of the time, preloved tools work just as well as new ones, and they’re so much cheaper. Also, you could simply borrow tools from friends and family.
- Cut delivery fees – Delivering materials and tools can be expensive, so you could arrange for your stock to be delivered to your closest store for you to pick up, instead of delivering straight to your door.
Affordable Solutions Through Trusted Home Improvement Providers
As we mentioned earlier, some things you just can do yourself, so you will have to work with others to complete your home improvement project.
An ideal way of finding tradesmen and construction companies to work with is through referrals from friends, family and the local community – if someone you know and trust says someone they worked with was reliable, skilled and a joy to work with, it’s a no-brainer, right?
Keep in mind that, unfortunately, the cheap option of builders and other tradespeople is mostly always never the answer. It’s true that you get what you pay for, and working with people who charge the market average or slightly higher usually means it’s less likely that there will be problems with your build, hidden surprises, and communication issues – all of which would come with a hefty price.
One option you have is to work with a design and build, start-to-finish construction company, like Bespoke Norfolk Group. With this option, a construction company will take care of everything for you, saving you money and stress in the long run.
A lot of what we have said in this blog aligns with some of the top renovation mistakes to avoid we discussed in an earlier blog, so if you haven’t read that yet, we recommend doing so.
Saving money on home improvement is not a lost cause; as we have proven with the above.
Thinking about taking on a home improvement project but are worried about money? You can get in touch with us to book a free meeting where we can take a closer look at your project to see if we can help.