When it comes to remodeling your home, you may think you need thousands of dollars in extra cash (or an outrageous home equity line) to get the job done. This is absolutely not true, unless you’re shooting for the picture in the Better Homes and Gardens Magazine. In reality, there are all kinds of ways to save on home upgrades if you just do a little legwork. And a recession is a great time to start because you can take advantage of bargain-priced products and merchants who are dying to get your business. So here are a few simple ways to cut your costs when remodeling your home.
1. Choose your projects wisely. Certain renovations will net you a big return on investments when you go to sell while others could leave you in the poorhouse with nothing to show for it. The most lucrative turnaround comes from upgrading kitchens and bathrooms, both of which can be expensive, so if you’re on a tight budget, be choosy about what you fix, replace, or leave be. Sometimes a few cosmetic decorations can make a huge difference and you won’t be out the cost of a gutted bathroom.
2. Paint is your best friend. Nothing spruces up a dull room like a new coat of paint, and the same can be said for cabinets. If the stain is way too dark for your tiny space, pull down the doors, sand if necessary, paint them a bright, shiny white, and invest in some modern hardware. Nothing is more appealing in a kitchen than a crisp, clean feeling (and you can do it yourself!).
3. Become a bargain hunter. Check garage sales, Craig’s List, and companies that specialize in the renewable (as in used items). You can often find recycled, reclaimed, or even new(ish) surplus items at a fraction of the cost. You may have to do some minor restoration work or live with a few dings and dents, but there’s no cheaper way to get quality items for less.
4. Price check. With merchants willing to vie for your business, you can often convince them to price match or even offer bigger discounts (especially if you’re buying multiple items). If you like to haggle, the time is right. But if you’re too shy to ask, you’re probably going to miss out on the deal of your life. The worst they can do is say no.
5. Get estimates. Even the handiest of homeowners may not have the tools or the know-how for big projects like installing electrical components, placing a header, or welding new plumbing. For these specialized tasks, you will need a professional, or more likely, a contractor. While we’re in a buyer’s market and prices are almost guaranteed to be cheaper for goods and services, there’s always someone out there who will take you if you let them. So be smart, stick to your budget, and see if you can’t play your bids right to get a better price on labor.
Jennifer Kardish is a communications coordinator at Kitchen Cabinets. You can check out their free design tips for your kitchen and home.
Suppose you own a home remodeling company. You are currently earning short-run profits. The home remodeling industry is an increasing-cost industry. In the long run, what do you expect will happent to a. Your firm’s costs of production? explain. b. The price you can charge for your remodeling services? Why?
Some really good information. We have recently re painted, the main level of our house, it really does bring a freshness to the decor, (and is your best friend). We used a beige tone in case of sale in the furure, as it appeals more to the masses.
My family and I are currently trying to remodel our home so what we’re doing is concentrating on one part of the house at a time that way we don’t get overwhelmed with the finances.
I have got the knack for this. My mother used to take me to auctions around town and we would find great stuff for little to no money and fix it up. We decorated her whole beach house for around 2,000. It was a lot of fun and took awhile but it turned out great and had fun doing it.
There is nothing more important than a fresh coat of paint, it can do wonders for a room.
Get estimate is really good thing, so you can get some idea about your budget. Don’t buy very expensive things if you have not sufficient budget.
Those are helpful tips straight from you! Good timing and idea since I planned to renovate our house this week.
Good tips. Home renovations costs is something you definitely have to shop around for. When you’re planning on selling your house, doing upgrades can really increase how much money you can sell for. Another upgrade I notice a lot of people doing these days is swapping carpet for hardwood flooring. This can make a big difference in how a home looks.
Hey Lulugal
I agree with becoming a bargain hunter. There is alot of great deals on craiglist which I personally use to purchase items which can be reused or remodeled with a little facelift. Great tactics!!