8 Ways to Save Money On a Home Renovation Project
Let’s be real here: renovating your home can be an exciting yet daunting task, especially when you’re trying to stick to a budget. However, with some savvy planning and smart choices, you can achieve your dream home without breaking the bank — I swear. As people who DIY most of our renovations, I’ve picked up a few strategies for how to save money on a home renovation. So today I wanted to share my top 8 tips for saving money during your budget home renovation.
How To Save Money On a Home Renovation Project:
8 Tips I Swear By
1. Plan and Budget Wisely for Your Home Renovation
Each year, I plan out my renovation goals, but I don’t start a single renovation project without a spreadsheet! Before diving into any renovation, take the time to plan meticulously. Create a detailed budget that includes all potential costs, from materials and labor to unexpected expenses. Having a clear financial plan will help you avoid overspending and make informed decisions.Still clueless about what to budget for during your home renovation? I’ve got an example of costs in the full renovation estimate of our kitchen.
I also take this planning time to do my “pre-shopping” which later helps me pull together a moodboard to better visualize the space. For example, I’ll begin by sourcing my favorite lighting and then save the images of the products I like into a folder on my desktop. Then, I collage the items together in Photoshop to make sure everything will sit well together. If you don’t have Photoshop skills, there’s lots of online collage makers out there. Or, a tool like Canva makes it easy to put together a moodboard. Preparing well for a renovation is essential for your budget and your home life. I’ve got more budget home renovation tips about preparing for your renovation here.
2. DIY Where You Can
While some tasks require professional expertise, there are plenty of jobs you can handle yourself depending on your skill level. Painting walls, installing new fixtures, or even laying tiles can be DIY projects if you’re up for the challenge.
Just make sure to research and follow quality tutorials to ensure good results. As a visual learner, I’m a big fan of YouTube for home renovation tutorials. There you can find everything from how to patch drywall to how to fix your sink.
As you might know, we tend to DIY most, if not all, of our projects! We’ve done everything from painting projects to flooring. I’m a creative person, but I’ve also just learned how to do stuff from YouTube, research and simply trying it.
By engaging in DIY, you can save on those contractor and labor costs which can sometimes be more than the cost of the materials! DIY can be one of the most impactful ways to save money on a home renovation.
3. How to Save Money on Home Renovation by Reusing and Repurposing Materials
Get creative with the materials you already have. Always shop your house first! This means going around your house and seeing what you can move from room to room or repurpose for your renovation. This is a great budget home renovation tip because these are items you already own and don’t have to pay a penny for! Consider repurposing old furniture, reusing cabinetry, or refinishing existing floors instead of buying new.
Thrift stores, salvage yards and antique markets can be gold mines for finding unique, affordable pieces that add character to your home. In fact, there’s certain things I always buy secondhand. If you aren’t able to get out to those physical stores, Etsy is a great place to find vintage and unique home decor.
4. Shop Smart for Supplies
Comparison shopping is one of the best strategies you can use when you’re buying supplies for a renovation or home improvement project. Comparison shopping is all about finding the best deals to stretch your budget further. Start by keeping an eye out for sales, discounts, and clearance items at local home improvement stores—sometimes they offer unexpected savings on things you need. I know we all hate a mailing list, but get on store mailing lists for the time being. This will ensure that you don’t miss their sales.
And don’t forget, online marketplaces like eBay, Craigslist, or Facebook Marketplace can also be goldmines for gently used or surplus building materials. It’s a great way to score some quality items without paying full price. I’ve definitely seen where folks order too much tile or lumber and sell the excess on Facebook Marketplace when their project is over.
Here’s another money saving tip: if you have a credit card that offers reward points or cash back, consider purchasing larger ticket items through their portal. Some cards have partnerships with retailers, allowing you to rack up points while getting your supplies, which can add up over time. It’s always worth looking into! Small savings can add up big when you’re working on a big project, so don’t hesitate to shop around and find the best possible deals.
5. Prioritize Your Projects
If your budget is truly tight, focus on the most important areas first! Take some time to think about which projects will really make a difference in both how your home functions and how it looks. This will also give you more time to save up for projects in the future.
For example, maybe the kitchen or bathroom needs an update because those are high-traffic areas that are used everyday. By identifying the projects that will have the biggest impact, you can ensure you’re spending money where it will have the biggest impact.
Prioritizing these key areas also keeps things from feeling overwhelming. It’ll allow you to tackle the essential updates first. Once those are done, you’ll have a clearer idea of what’s left to work on later. That way, you avoid spreading yourself too thin and can take on smaller projects as time and funds allow. Be strategic with your limited resources. Plus, seeing some big changes early on will keep you motivated as you work through the rest of the list!
Potential overwhelm is a big reason why we have not renovated our cabin kitchen yet. I might also have a little bit of trauma from our previous kitchen renovation. Haha!
6. Hire Wisely
If you do decide to bring in some professional help, choose your contractors with care. This is a big decision. In fact, it may just be the most important part of your renovation. You want to make sure you’re working with someone you can trust. Start by getting multiple quotes. That way you have a good sense of what the going rates are.
Don’t hesitate to ask each contractor for references either. Reaching out to past clients can give you a better idea of the quality of their work and how reliable they are. And of course, take the time to read online reviews; they can catch things that you didn’t spot in a short, initial meeting.
It can be tempting to go for the lowest bid, but keep in mind that sometimes the cheapest option isn’t always the best. In the best scenario, quality will always beat out price. And remember: If a price seems too good to be true, there might be a reason for it!
Also, don’t be afraid to negotiate! Contractors are often willing to work with you on pricing, especially if you ask for discounts or ask about the cash price. Paying in cash can sometimes get you a better deal. Don’t be afraid to ask. At the end of the day, you want to make sure you’re getting great value for your money while also working with someone who is reliable and professional.
7. Avoid Last-Minute Changes
Changes to your renovation plans can be a budget-breaker, so it’s a good idea to nail down all your design and layout decisions before you start the project. The more you can plan ahead, the fewer surprises (and ultimately costs) you’ll face down the road. If you start making changes after the work is already underway, it can really add up quickly. Not to mention it can throw off your timeline and add a lot of stress to the process.
That’s why sticking to your original plan is so important! Not only will it save you money, but it’ll also help you avoid the headache of constant adjustments. It’s easy to get tempted by new ideas or potential opportunities along the way. But stay true to your original vision! It will give you a sense of direction and keep things moving smoothly.
This is also where my pre-shopping strategy really comes in handy! By doing a little research and gathering your materials in advance, you’ll have a clearer picture of exactly what you need, how much it’ll cost, and how it will all fit into your overall plan. This prep work can truly help prevent unexpected changes or extra expenses that might pop up during the renovation. Planning ahead makes everything more predictable, less stressful, and ultimately, it’s how you’ll save money on a home renovation. To avoid blowing your budget on costly mistakes, check out my tips on how to selecting a paint finish, how to choose a paint color and how to pick window treatments.
8. Consider Energy Efficiency
It’s not the flashiest budget home renovation tip, but investing in energy-efficient upgrades like energy-efficient windows, appliances and insulation can save you money in the long run. These items might have a higher upfront cost. But trust me, they can save you a lot of money in the long run by reducing your utility bills. These smart financial choices might hurt a bit now, but they will eventually pay off over time. Lower energy consumption means less money spent on heating and cooling your home, and who doesn’t want that?
Take, for example, the insulated shades we installed in our living room. These little additions have made such a difference! Not only do they add a sleek, modern touch to the room, but they also help regulate the temperature. In the winter, they keep the warmth in, so we don’t have to crank up the heat as much. In the summer, they block out the heat from the sun and the room cool without running the air conditioning as often. It’s a win-win!
So, even though energy-efficient upgrades might feel like a bigger investment at first, think about them as a way to increase the comfort and savings in your home over time. Ultimately it will help both the environment and your wallet.
Bonus Tip on How to Save Money on Home Renovations: Be Patient
Renovations can be time-consuming, and rushing the process can lead to costly mistakes. Be patient, stick to your plan, and take the time to find the best deals and solutions for your home. I really struggled with being patient and wanting it to all be done 5 days ago. But sometimes you need to just take a step back and let it go. I’m definitely working on that aspect of renovations!
Saving money on a home renovation project is all about smart planning, resourcefulness, and making informed decisions. It took me a lot of time and four big renovation mistakes before I learned these tips. So please learn from my mistakes in order to transform your space into your dream home without blowing your budget.
Do you have any budget home renovation tips to share? Let me know in the comments below! You guys always have such helpful ideas and recommendations. Happy renovating!
