Q&A: How Can I Save on Home Improvement Costs?
Q: I’m doing some home renovations and I’d like to keep costs as low as possible. How can I make home improvements while on a budget?
A: It’s great that you’re being proactive about saving money on your home renovations. Without good planning and careful budgeting, home improvements can quickly outpace their projected costs. Here’s how to save on home improvements of any kind.
1. Plan and budget wisely
Before you start any project, create a detailed plan and budget. Include the costs of materials, labor (if hiring professionals), permits and a contingency fund for unexpected expenses. A well-thought-out plan prevents overspending and ensures you’re prepared for every step of the process.
2. DIY when possible
One of the easiest ways to save is by doing some of the work yourself. Tasks, like painting, sanding, assembling furniture or landscaping, often require minimal skills and can significantly cut costs. For more complex projects, take advantage of free online tutorials and workshops from hardware stores, like Home Depot or Lowe’s, to learn new skills.
3. Prioritize projects
Focus on improvements that add the most value to your home or enhance your daily life. For example, upgrading kitchen appliances or installing energy-efficient windows can offer immediate benefits and long-term savings. If your budget is tight, tackle one project at a time instead of trying to do everything at once.
4. Shop smart for materials
Save on materials that may be needed for your projects with these hacks:
- Buy in bulk. For large-scale projects, purchasing materials, like paint, tiles or wood, in bulk can significantly reduce costs.
- Check clearance sections. Many hardware and home improvement stores have discounted sections for discontinued or slightly damaged items.
- Use salvaged or recycled materials. Check out outlets, like Habitat for Humanity ReStores, for gently used materials at a fraction of retail prices.
- Shop during sales. Look for seasonal sales and holiday promotions to buy materials at discounted rates.
5. Repurpose and reuse
Before buying new, see if you can repurpose items you already own. For example, you can sand and repaint old furniture for a fresh look, use leftover wood from previous projects to create shelving or decor and reupholster chairs or sofas instead of replacing them.
6. Hire professionals strategically
While DIY can save money, there are some tasks that are best left to professionals, especially those involving plumbing, electrical work or structural changes. To save on professional services, get multiple quotes from different contractors so you can compare their prices. You can also do the simpler tasks on a project yourself and only hire experts for the complex jobs. Finally, if someone in your circle of friends has the expertise, consider bartering or asking for help in exchange for a favor.
7. Choose cost-effective alternatives
High-end materials and finishes can drive up costs, but there are budget-friendly alternatives that offer similar aesthetics and functionality. For example, you can use laminate or butcher block countertops instead of granite or marble, opt for luxury vinyl flooring instead of hardwood and choose prefabricated cabinets instead of custom-built ones.
8. Avoid changing floor plans
Major layout changes, like moving plumbing, electrical systems or walls, can significantly increase costs. Whenever possible, work within your home’s existing structure to minimize expenses.
9. Rent or borrow tools
Buying tools for one-time use can be expensive. Instead, rent tools from home improvement stores or borrow them from friends or family. Community tool libraries are another great option for accessing equipment without the high price tag.
10. Go energy-efficient
While energy-efficient upgrades may have higher upfront costs, they can save you money in the long run. Consider installing LED lighting, low-flow plumbing fixtures, and energy-efficient appliances to reduce utility bills. Look for rebates and incentives offered by local governments or utility companies to offset initial costs.
11. Tackle seasonal projects at the right time
The cost of home improvement materials and services often fluctuates based on the time of year. For example, roof repairs can be costlier in late spring and summer when demand is high, but will be cheaper in late winter and early spring. Similarly, outdoor projects, like deck installations, will cost less in late fall or early winter. You’ll also find better contractor availability during off-peak seasons for home repairs.
12. Keep track of tax benefits
Certain home improvements, like energy-efficient upgrades, may qualify for tax credits or deductions. Research incentives offered by federal, state or local programs to see if your project is eligible.
Whether you’re upgrading your kitchen, fixing up the backyard or slapping on a fresh coat of paint this spring, these tips can help you achieve your dream home without breaking the budget.