Renovating a home is an essential process, not just stylistically, but in case repairs need to be made. Especially now that materials costs are so incredibly high, most DIYers look at their budget and wonder how to reduce renovation costs. We’ve outlined some tried and true ways you can reduce your renovation costs.
1. Create a Budget
How does making a budget reduce renovation costs? Having a budget set before you start making design choices can help you stay within your budget. Once you have a number set, you can then start to assess how much materials will cost and how much is available for items that you love.
It’s essential to allot extra money for unexpected expenses. What happens if you see water damage when you tear up your floor? Or if you have asbestos in your linoleum that requires testing and special disposal? Reserve at least 10% of your budget for the unexpected so you aren’t caught off guard. If nothing comes up, then you have extra money to splurge on something special!
2. DIY Demo
Even if you are hiring a professional for your reno, you can save money by doing the demolition and disposal yourself. HomeAdvisor estimates that the average small interior demolition project costs just over $3,000, though more significant demolition projects can cost considerably more than that.
If you don’t have access to the tools you need for your demo, run a quick cost analysis to see if buying the tools will still save you money. Remember, you can always sell them when you’re done.
Consult with your contractor about what needs to go before you begin the demolition. And come up with a plan for the removal of the demolished materials!
3. Cost Effective Materials
Replacing a door is a pretty easy DIY home reno project that can give your house a total facelift. There are definitely ways you can lower the cost without sacrificing the quality of the product. Instead of replacing the entire door jamb, consider getting just the slab and customizing the hardware yourself. Eightdoors’ sells single door leaves so you can get the best quality product without breaking the budget.
Check out our blog about DIY Door Installation here to see if a DIY install is a good fit for how to reduce renovation costs.
4. A New Coat of Paint
A fresh coat of paint can take you a long way! Have you seen the videos of people buying outdated furniture from thrift shops and transforming it completely with paint and hardware? It’s amazingly simple, all it takes is a little vision! And maybe a truck.
Another way you can reduce renovation costs is by buying things second hand. You can repurpose an old sewing table to make a vanity for your bathroom, or transform your mudroom with a painted cubby.
Buying paint is WAY less expensive than buying new things. Painting is a great way to reuse existing materials that are still in good working condition. New cabinets are incredibly expensive. Painting your existing cabinets will dramatically change the look of your kitchen for a fraction of the price.
Another money saving trick is to buy doors that are pre-primed in white can be painted at home. Painting something yourself will definitely save you money and make it easier to match your existing decor than something painted by the manufacturer.
5. Prioritizing
Figure out what you are willing to spend more money on will actually help you save money. If you can paint your cabinets instead of replacing them, maybe you can afford to buy nicer hardware that will have a greater impact on the look of the space.
6. Payment Plan
If you fall in love with something that’s outside your budget, you can look into financing it. Many stores are now offering their own payment plans, so you can pay the item off over the course of a few months.
7. Sell What You Don’t Need
Did you replace a light fixture? Sell it on craigslist or have a garage sale. Make sure that the dump is the last resort. Dumping not only costs you money, but it’s also wasteful to throw away items that still have some life in them. There are several alternatives to dumping if you can’t sell your item, like donating it to a re-store or gifting it in a neighborhood buy nothing group.
