Any homeowner looking to do renovations on his or her property will be faced with the challenge of balancing the improvements that are made with the budget allotted for the project. While there are obviously savings to be had by choosing lower-quality materials and fixtures or forgoing more involved projects in favor of smaller ones, there are also ways to reduce the cost of your project without sacrificing its quality or scope.
1.Invest in Efficiency
Flexibility is great when it comes to specifics, but when dealing with the total cost it is very important to have a limit
There's no doubt that updating old fixtures, appliances, and home components can be costly, but when those updates will actually begin saving you money the day they are installed, they can go a long way in helping you recover their installation price. Opt for appliances that carry the U.S. Government's Energy Star label and choose windows, doors, insulation, and HVAC components that will reduce your monthly energy costs to make the price of your project more bearable.
2.Remodel Around Existing Systems
As the saying goes: If it's not broken, don't fix it! Though the space in your kitchen or bathroom really does have unlimited potential, projects that require plumbing lines to be relocated are much more costly than those that do not. The same is true for ductwork and the structural elements of your home's frame. By planning your project around the internal systems that already exist, you eliminate the high cost of moving these elements around, allowing you to either keep the difference or use the money you save on more visible components of the room.
3.Know Your Options for Components and Fixtures
There are a number of options for buying just about any element of a house. While big-box stores are certainly convenient and contractor catalogues are great for ideas, it is important to examine the cost of each component you'll be using during your remodel to see if you might be able to find a comparable product at a discount. Resale stores and architectural salvage warehouses offer some excellent bargains on materials and fixtures that will save you plenty, and since sales that offer deep discounts are offered every day at retail stores, it is well worth the time to see what's available. A little flexibility goes a long way during a remodel, so instead of insisting on a specific brand and model of an item, use that model and brand as a starting point and see what other options are out there at a discounted price.
4.Create a Budget and Stick to It
Flexibility is great when it comes to specifics, but when dealing with the total cost of the project it is very important to have a limit that is all-but carved in stone. Many homeowners who set out to perform a reasonably-priced remodel find themselves paying thousands more than they imagined because they simply haven't paid close enough attention to their bottom-line budget. Know your limit, work within it, and don't make exceptions that will cause prices to snowball.
5.Find the Right Contractor
In many cases, the "right" contractor and the "most affordable" contractor are two different people. The right contractor will perform quality work in a timely manner and be more than happy to help you get the results you want without going over budget or cutting corners. The most affordable contractor, on the other hand, may actually end up costing you more in the long run by providing lower-quality work, using shoddy materials, or not including basic necessities in the price that was quoted.
When it comes to remodeling on a budget, the contractor you choose will play a bigger role than just about anything else, so it is crucial that you make the effort necessary to pick the one that's right for you. Interview at least three contractors before you decide who you will go with. Get quotes, ask questions, contact references, and examine portfolios. It might take a little legwork during the planning beginning stages of your project, but for most homeowners, that extra work pays off in the form of a contractor who communicates well, does good work, and charges a fair price.