The current global pandemic has made millions of people spend the majority of their time inside their homes. But because of the paralyzing circumstance, more people noticed and turned their attention to overdue repairs and renovations. This situation has led to an increase in home improvement projects.
We have yet to see the end of the crisis. Most people have limited funding due to the consequences of the situation. But in this period of uncertainty, there are still a handful of ways to save money on home improvement projects.
One of the biggest mistakes homeowners make when doing home renovation projects is not setting a budget. People without one have higher chances of spending much more than what they intended.
How do you set a budget? List and total all the necessary expenses, from materials and labour, and add a little extra. Why? No matter how precise your computation is, you'll bump into unavoidable expenses. It's better to overestimate your budget and underspend than spend way more than what you anticipated.
A large chunk of the cost of home improvement projects goes to contractors' fees. To save money, try doing the renovations and improvements all by yourself, especially for smaller projects. There are hundreds of guides that you can find on the internet, from interior design to landscaping. It's possible as long as you have the basic skills and the necessary tools. It's also safer as you decrease the risk of contracting the virus.
Granted, there are home remodelling projects that require professional and licensed workers, such as plumbing, HVAC, and electrical works. If you need such workers, it may be a good idea to hire them yourself instead of hiring them through contractors to cut costs. You may also be able to save money by asking friends and family members for referrals.
We're living in a digital age where almost everything is only one click away. Unlike before, you don't need to visit every shop downtown just to check prices. All can be done at the comfort of your home. Before making any purchases, check all the suppliers and shops that you can find online.
For instance, if you're looking for materials for your deck, visit some trusted UK composite decking websites. Need some appliances for your kitchen? Check out the catalogues of various brands online. Always compare prices before you commit to purchasing to get the best deals.
Many companies are extending payments and offering higher credit limits during this pandemic. It can be tempting to make loans for your projects. However, the interest is still there. You can save a significant amount by paying with the money that you already have.
If you don't have enough, think of smart ways to add to the funds to your home renovation projects. Can you switch to energy-saving appliances and lighting? Can you upgrade insulation to cut down on energy costs? If you have subscriptions, such as video subscriptions and internet services provider plans, can you downgrade to lower-costing plans for the meantime? You can also earn money by selling some items that you don't need. Every bit helps.
Whether you hire contractors or do the projects yourself, you must know your priorities. Before starting a project, stop, think, and observe. Which tasks need immediate renovations and improvements? Which are the ones that can be set aside for the time being? Your budget also plays a hand in your decisions as to which projects you can and can't complete.
Do not rush your renovation projects. Not being able to do all that what you wanted may be disappointing or even disheartening. But breaking your bank or ending in debt only to do everything is much worse. More so during these hard times.
Always reuse when possible. If not, consider recycling. Are you planning to replace a few cabinets? If they are still in excellent quality, why not repaint and redecorate them instead of getting new ones? A bucket of paint and some decorative knobs are way cheaper. If they do need to go, consider dismantling them and reusing the materials for other purposes.
What if you want to replace some appliances? If they are still functioning properly, resell them to recover some of the expenses from buying the new ones. Setting up garage sales and posting them on online marketplaces are excellent ways to get some cash out of them.
Second-hand shops and garage sales are excellent sources of materials and appliances, especially now that many people are looking for ways to earn money by selling their unused items.
Discount stores and discount sections are also worth checking. In some stores, you can find discount sections where you can find items returned by buyers, which the stores sell for less.
The returned items can have minor dents and scratches. But you may be able to hide some of these imperfections easily.
It's understandable if you want to buy everything you need for a renovation project. But by doing so, you may pass up on opportunities to get great deals.
From time to time, shops can offer excellent deals and promotions. Some stores present huge discounts during holiday seasons. You can also find other supplies for far less during off-peak seasons. Research the best times to make purchases. Waiting out for them can potentially save you hundreds, if not thousands.
