Planning home renovations can be intimidating, especially when the price tags begin to stack up. Overspending is one of the biggest obstacles people face when they decide to remodel their homes. But, just because overspending is possible doesn’t mean it has to happen. There are myriad ways you can save money, cut costs, and avoid overspending when remodeling your home.
Tips to Avoid Overspending
Here are some of our top tips to help you avoid overspending when renovating your home:
- Set a Budget and Stick to It
Setting a budget and sticking to it is one of the most crucial parts of your upcoming remodel. Before spending large amounts of money, it’s always a good idea to estimate how much you might spend in total, so you don’t end up surprised or overspending. By creating a budget for your upcoming project, you’ll be able to keep track of your spending much easier. For projects like renovation, you should always have a cushion of around 15-20% of your budget for extra expenses that will most definitely arise. If this kind of expense is too much for your savings, you could see mortgage lenders in Bellevue, WA, refinance your mortgage for the remodeling expenditure.
- Compare Prices on Supplies/Wait for Sales
Comparing prices on supplies is a great way to ensure you’re not overspending while remodeling. More often than not, one big box store will have a better deal on certain supplies than the other, allowing you to get it less expensively than you might have expected initially. If you’re lucky, the store you decide to use might even price match for you.
Waiting for sales is another simple way to cut costs during your renovations. Before your project starts, identify the supplies you will need, the backsplash you like, etc. Then, keep an eye on the items you want that you can buy throughout the process and wait until they go on sale. Whether you get 10% off or 30% of, cutting costs with a sale can help you save overall big time.
You can do several things yourself during a remodel, regardless of whether you’re a contractor. While you might not be able to rewire your family’s kitchen or put up drywall, you’re more than capable of painting your cupboards the color you want them or building tables for your porch. If you see an opening in an area that you trust your can work on safely, by all means, go for it.
- Hire Professionals When You Need Help
But, sometimes, doing it yourself might not be the safest option. Knowing when it’s time to hire professionals is another essential tip when trying to avoid overspending. Often when you try to take shortcuts, like doing something yourself instead of having a professional do it, you can end up spending even more money. Mistakes can lead to more issues, more time renovating, and more spending. That’s why when it comes to the more significant aspects of remodeling, you should hire professionals to help you.
- Don’t Be Afraid of a Change in Plans
No matter how hard you might plan for these upcoming renovations, something is most likely going to change. Whether it’s the windows you ordered no longer be available or you encounter a setback with your home’s electrical wiring, renovations will keep you on your toes. Whatever happens, be ready to adjust to the situation as it changes.
Budget-Friendly Remodel Ideas
There’s a multitude of ways to liven up your home without a phone call to mortgage lenders. Bellevue, WA has lots of options that you might not have noticed. From DIY projects to simple installs, here are some budget-friendly remodel ideas:
While it sounds simple, repainting a room or even cabinets can transform a room completely. Repainting is one of the cheapest ways you can change a room without altering any construction. You’d be surprised how much of a difference painting your once dull, beige kitchen green or blue could make.
While installing a skylight might be a bit more expensive compared to repainting a room, it’s still an affordable way to transform an area. In addition, adding a skylight will brighten any room, allowing natural light to flow in all day. So, whether it’s your bathroom or your office, a skylight is a significant renovation to add to your list.
Wall paneling is becoming an increasingly popular way to transform a room and give it a more modern look and feel. Not only is wall paneling a cheaper alternative to home additions or room revamps, but it comes in a variety of colors and patterns, making finding the right one for your room easy. Wall paneling is also a great way to help balance a room.
Want to change your kitchen without having to remodel the entire thing? One great way to revamp an older kitchen is by replacing the cabinets. Luckily, you don’t need to buy expensive cabinets to replace them. Instead, big stores like Ikea sell great cabinets cheaply, allowing you to take down the old and put up the new as quickly as you decide you want it done. Once your new cabinets are installed, you can paint them or give them a new finish that fits your kitchen the best.
Adding a bar area can be as simple as buying a nice bar cart, throwing your favorite glasses and liquors on it, and hanging up some wall art behind it. Another favorite home revamp would be adding a small bar area to your room, an idea that has become very popular lately. Whether you decide to make a full bar in your basement or set a little place aside in your dining room, a bar area will make a great addition to your home.
Consider Mortgage Lenders in Bellevue, WA for Your Next Remodel
There are many ways that you can save money and cut costs on your home’s remodeling project. If you’re looking for more ways to fund your project, consider mortgage options like refinancing, which can help you pay for your renovations.