Home renovations improve the aesthetics and comfort of your home, although some projects require a large financial expenditure.
For those of you wanting to renovate your home on a budget, we’ll share important tips with you to help you in planning an affordable renovation.
We can tell you firsthand that DIY home makeovers often still require hiring others to take on parts of the project and that comes with a particular price tag and a bit of sanity loss and we are skilled renovators!
As an added bonus, we’ll toss in some other big suggestions for a renovation that you might overlook, so that you don’t make a mistake!
Grab your toolbelt, your stashed budget envelopes of cash, and a sense of adventure, as we share how to renovate your home on a budget, which in essence is planning an affordable renovation with a list!
Table of Contents
What Does Planning An Affordable Renovation Encompass?
Our whole post is loaded with insight on many topics that you’ll need to have at least a basic understanding of before taking the plunge to remodel.
Renovate your home on a budget and enjoy your updates!
- ✅ plan a feasible budget with a bit of wiggle room
- ✅ financing your remodeling without overspending
- ✅ finding a starting point for updating your home on a budget
- ✅ Design-Build Contractor
- ✅ research options for materials
- ✅ understand “smart painting”
- ✅ window renovation must know
- ✅ DIY vs. when to hire a contractor
- ✅ budgeting + contractors
9 Important Tips To Renovate Your Home On A Budget
Start with your wishlist for your budget-friendly remodeling and figure out what you really need to get done and what can wait.
Once you have your wishlist in hand, you’ll want to start using these 9 important renovation tips.
#1 planning a feasible budget with a bit of wiggle room
This is known as creating a budget and sticking with it!
As you desire an affordable alternative for home renovation, you must first establish the total expenditure requirements and restrictions.
This can give you a fair idea about your investments and the cost cap.
Creating a feasible budget is essential, so keep this in mind.
You’ll know what kind of improvements need to be done initially based on the budget.
When creating a budget, you shouldn’t overestimate. Instead, keep your budget low and start looking for the needed items.
#2 Explore how you will finance your remodeling without overspending
This section is a quick overview of financing vs. cash while staying on budget and working with a tight budget.
Before you even start coming up with a budget for the project, you must determine how you will finance it.
Whether you are paying for it in cash or using a bank loan, it is always advisable that the budget of the project fits within the limits of the available funds.
Once you have a clear idea of how much finances you have at your disposal, it is recommended that you set aside an extra 10 to 20% of the available funds for miscellaneous expenses.
The funds can come in handy, especially if something goes wrong, or if anything ends up being more expensive than you projected.
By doing so, you will have sufficient funds to complete the project regardless of what happens. (just as I described above).
#3 Finding a starting point for updating your home on a budget.
Did you know that specific room renovations add value to your home?
Start investigating specific room renovations and their impact on your home, and remember that the bathrooms require renovation as well.
Bathrooms and Renovation
Remember that bathrooms require improvement, just like the kitchen and living room.
You might contemplate improving several things, like the sink, toilet, or shower. Factor in that you may also need emergency plumbing if something looks rusty or leaks.
Don’t forget to dress the windows, and the walls, and to reinvest in simple wares for the sink such as cute soap dishes, candles, and a large mirror.
You’d be amazed at how simple, and affordable these changes are.
Basement Renovations Are Big + Increase Living Space
More living space is generally a reason for renovation too.
So for those lucky enough to have a basement, you will also be lucky enough to spend anywhere from 10K-30K (fixture and size dependent) on a finished basement.
From a bathroom to a bar, to a home theater, basements have become the new family room.
For some, it means that no one will ever see your secret mess unless they visit your basement.
On the other hand, it also is a place to host more friends and family, so you might be cleaning it up more!
Prioritizing what is the best room to renovate is your BFF right now!
When you figure out which room should be tackled, it will make it more affordable if you prioritize the renovation projects by room.
This way, you can create a budget around the cost of individual projects.
#4 Bring In A Design-Build Contractor Early On!
Often, most homeowners don’t have an idea about where to start.
If you are one such homeowner, you should bring in a design-build contractor during the early stages of the project.
This way, they can listen to your needs and guide you in budget-making.
I am not suggesting having them contract your project.
You will want to do as much as you can as a DIY. However, understand what you are getting into and how far the renovation has to go.
Will it be the first floor this year and the 2nd floor next year?
Maybe your home is new, and you never got your basement finished. Consider everything, then renovate!
#5 Extensively researching all of your material options (research)
A little research can save you a lot of money, so you will research renovation costs and materials for specific rooms you want to update and refresh.
The question you are most seeking to answer is, “how much should you spend on home renovation materials for ‘X’ room?” and learn what the materials are!
- To get the best idea of what a renovation should cost, start with your property’s value (Google it)
- Search for the value of your neighbor’s home as well; this will give you perspective.
- Remember that the remodeling spend needs to be spread throughout a home, not just a single room.
- 15% is the golden number when renovating. Your resale value won’t climb beyond that investment percentage.
Doing this will allow you to renovate your home on a tight budget because you can get most of the materials for a reasonable price if you research correctly.
Fortunately, affordable furniture, paint, or decorations are available, so keep this in mind.
Research the product and the market before purchasing any goods or items to obtain quality goods at discounted prices.
Use online shopping, thrift shops, and places that sell these items to your advantage and see how far you can get.
#6 understand “smart painting” and how it affects your home
An economical and creative technique to improve your home is smart painting.
Note that the paint color has an impact on the lighting.
Some colors can physically make your home appear darker, while others might make it appear brighter.
Choose vivid colors for the walls and neutral tones like white and black for the furniture, rugs, and drapes.
Here is where you can save money, don’t hire a painter; make this a DIY. Sure it may take a little longer, but you will save on labor costs if you can DIY the painting.
#7 how do windows play a large part in renovations, and why
Consider changing your windows, as it does cost to upgrade them, but the investment will save you money!
- Your windows are essential to your home’s aesthetic appeal, so keep this in mind.
- Windows allow natural light in, which reduces the use of artificial lighting. In turn, it can lower your electricity bills.
- Consider upgrading to more oversized windows for more light and less electricity usage.
- Alternatively, replace a wall with a window to add interest to your property.
- Consider using a pro window installer to make sure you won’t have leaks!
#8 Tips To Consider: DIY vs. Hiring a Contractor
- Consider hiring a contractor to undertake some exploratory, investigative work or demolition to ascertain that there isn’t any unforeseen work you may need to undertake.
- Understand that the contractor may cost you a bit out of pocket, yet, he/she will save you money, time, and effort.
- Allow the contractor to assess where the wiring is or find it with their cool tech toys.
Using a contractor eliminates the need to bash a wall in to find wiring and support walls, right? Know before you start, from the piping to wires and everything in between.
Hire a pro to figure this out and save money and time later in the project.
When Contractors Provide Unrealistically Low Bids Beware
There are several untrustworthy contractors in the sector.
Anyone with a bad track record can get another contractor’s license or begin a new firm under a different name.
Doing your due diligence before settling on a contractor is mandatory.
Also, because certain subpar contractors employ substandard materials, they frequently offer cheap charges. You will need to make sure that the materials you chose are those being used, not what the contractor has decided to cut costs, as this can end in needing a remodel after the remodel.
As a result, when looking for the ideal contractor for your remodeling, look for recommendations from family, friends, or neighbors, check online reviews, or consult a financial planner, realtor, or attorney.
Don’t become part of the statistics from injuries at home from working with a subpar contractor.
According to NSC, roughly 54% of injury-related accidents happen at home, and the risk factors may increase during remodeling.
If you become injured due to contractor negligence, speaking to and hiring a Columbus personal injury attorney can be especially useful when a contractor is legally responsible for a household member getting hurt during the renovation (or for whatever city you live in).
Do know that a personal injury attorney can often help you recover damages from accidents caused by negligence by the contractor.
We Learned Our Lesson With Contractors – Injuries + Breach Of Contract.
If you have been reading my DIY section, you might remember we had a contractor who did not feel well but came to work fall through our ceiling, creating injury and thousands of dollars of damage to our home.
And you might remember we had a contractor who quoted one price and attempted to deliver a bill at a very different price or the contractor that I kicked out after the first day of work for not even coming close to providing the beginning of the contract.
Hire a lawyer, cover yourself and your family, and always ensure your contractor has the bottom line of DIY vs. hiring a contractor to maintain your remodeling without overspending while avoiding potential injury and contract issues!
The DIY Projects To Keep Your Remodeling Budget-Friendly You Can Do
- If you are removing cabinets or floor tiles as part of the project, consider doing this yourself; it will significantly reduce labor costs.
- Try to recycle or share for free/donate those items that still have life left in them.
- Order basic finishes and fixtures yourself since the contractor will likely charge hourly fees to do the shopping on your behalf.
- If possible, be the project manager. If you need additional subcontractors for the project, you should interview and choose them yourself rather than letting the general contractor do that.
- Carry out painting work yourself. Hiring a professional to paint one room is way overpriced.
#9 Dealing with contractors (what you need to do to stay on budget)
If you think remodeling on a tight budget is complex, try dealing with contractors, we have endlessly!
You’ll need a reliable and reputable contractor, and often your Design Contractor works with the same groups of people, so you could ask them for references if they don’t get out the right offer. Still, sometimes they come with a higher price tag as well.
- Request Multiple Project Estimates from Contractors (get the bids broken down)
- Find a contractor who will be comfortable working with the available funds.
- Only consider local companies that have good reviews from previous clients,
- Request written and signed bids
- You should compare at least three bids from different contractors
- Get A Contractor to Commit to the Quote
- Be clear about both the project and its budget.
- Be sure of what you are asking for, and be sure that is the quote you are getting.
- Allow the contractor to present a list of addendums, with the prices broken out (if wanted bay windows and he suggests three crank-out windows in a row, that is an addendum/option)
- Pricing should be listed separately from your request vs. his want.
- Remember, if you want it your way, this is your project. Don’t be swayed by a contractor’s suggestions.
- Get what YOU want and get that quote.
- Allow additional options (at least let the contract believe you are considering them), but have it as a breakout option.
- Don’t pay ahead of your contract (at least not the total amount or even until contracts are signed!)
- Make certain the brands of hardware you have chosen match and that the prices are *Not Subject To Change, once dated and signed.
- I highly suggest building in a ‘late work clause’ because money should be extracted from your bill if the work is not delivered on time. (tip: This will give your contractor the oomph to stay on time and show up every day)
- Offer to purchase and pick up as many products as possible, skimming the amount down to daily rates to show up.
If a contractor understands that you intend to stick to a constrained budget, it will be easier for him/her to take you through extra expenses, time delays, and project changes that you should expect.
How To Do Quick and Easy Contractor Background Checks For Your Budget-Friendly Remodeling
- Check your local online neighborhood website to learn ‘who did not complete, who did complete, who is a dirty worker’ etc.’ gossip there. Know before you hire. Your neighbors will tell the truth.
- Do they have insurance? If they don’t, you’ll not want to hire them!
Label Every Chemical Bottle Used
Many poisonous and toxic chemicals are often used during a home remodeling and keep them locked up and away from children.
- bug sprays
- paint strippers
- cleaning products
Keeping chemicals in their proper containers is crucial while ensuring that your surfaces, floors, and even the air are free from contaminants.
Remember to properly label chemicals and materials to separate them from your daily use items, such as water and food, and always dispose of them properly.
Use as many natural remodeling products as possible that don’t harm your family or the environment. Of course, all fall under research renovation costs and materials and are necessary for our world today!
This way, you will eliminate the likelihood of any accidents or injuries when you renovate your home on a budget!
Now You Are Ready To Renovate Your Home On A Budget
You have prioritized your remodeling needs and can stay within your budget to achieve what you want and feel comfortable because you have not overspent.
There are several great advantages to renovating your home; you can achieve remodeling without overspending! Remember that along with improving the appearance and comfort of your home; it will raise its market worth.
Fortunately, it doesn’t have to be expensive, and planning an affordable renovation is as easy as following how to renovate your home on a budget checklist and doing due diligence to research renovation costs and materials, such as the information we have provided above.
A property that has undergone budget-friendly remodeling is more easily sold and much better to look at.
Always remember there is no shame when you renovate your home on a budget because it just makes good working sense. If you are undertaking a home renovation, the easiest way to work within the budget is to incorporate DIY projects.
This will help you save costs, ensure you complete the project within schedule, and won’t be stressed out! ~ DANA XO