Not all home remodeling projects have to break the bank—even if it’s a larger renovation being done. There are numerous ways to save money throughout the remodeling process, however, these 5 are the best ways to get the project done while keeping the most money in your wallet:
- Hire a contractor after the peak renovation season
The peak time to begin a home remodeling project is during the summer as well as between September and Christmas. During this time, contractors are busier and don’t have to go out of their way to get business. They can charge more, since they have an upper hand during this time period—after all, labor is harder to find. Building supply deliveries tend to also be slower during the peak season, since everyone is trying to get supplies delivered at the same time. So it is best to wait for the peak time to pass to begin a project when looking to hire a contractor as well as have fast delivery times. During the “off months” contractors may even offer discounts for their services.
- Ask your contractor about material from other projects
Your contractor is undoubtedly working multiple jobs, so if you are looking for ways to curb your material costs, ask he or she if they have any leftover building material from these other jobs. Rather than wasting this material and throwing it out, it can be used on your own project at a fraction of the cost. It never hurts to ask.
- Use as much sweat equity as possible
The most obvious way to save money on a remodeling project is to do as much of the work yourself. Whether it’s doing the demolition (as long as you are aware of what beams are and aren’t necessary for safety purposes), sanding, painting, etc., do what you are able to do without having to hire (and pay) someone to do it. Hire professionals to only do what you know you cannot do yourself or for projects you know will take too much time doing alone. Just remember: the cost of doing something yourself is $0, which saves you substantially on the cost of labor—it all adds up.
- Check out your local recycling centers
If you are doing a project yourself, you can find so many great recycled or lightly used building materials at places such as ReStore, which is operated by the Habitat for Humanity. Their salvaged materials are offered at half off, which can save you significantly. You won’t find any contractors shopping at any type of store such this, due to liability issues, but if you are a do-it-yourselfer, this is one route you can certainly go, in order to save on your material costs.
- Donate your unwanted items
In doing a home remodeling project, you’ll have to go through all of your personal belongings, organize them and figure out what items need to be thrown out. But before you do anything, have the Habitat for Humanity take your unwanted items—things you simply want to donate or items that would end up at a landfill. They take furniture, appliances and surplus building materials (cabinets, sinks, tubs, etc.). Large items can be picked up in most cases. So there are two great benefits for you: 1) unwanted items will get taken off of your hands and 2) you’ll get a tax credit for your donation.
As you tackle your home renovation project, there is a final thing to consider, you’ll want to make sure your home is protected with an alarm system. It’s not uncommon for building materials to be stolen from a job site, so extra protection will go a long ways—and it’ll give you and your family security 24/7.