Home remodeling and renovation can take a lot of money, possibly costing homeowners thousands of dollars. However, it could be a lot cheaper as cutting costs may also result in quality renovations and remodeling without breaking the bank.
To begin with, remodeling a house might be cheaper as on average, remodeling costs $570,000 while the cost to build a new house is around $588,000. This means that there is around $18,000 in savings.
Five Ways To Save Money in Home Renovations and Remodeling Without Sacrificing Quality
After weighing your options and choosing to remodel your home rather than build a new one, here are five tips to cut the costs and save some money but also not affect the quality of the remodel that much:
Size Does Not Matter, Choose Efficiency Instead
Expanding areas in your home to make them bigger will be very expensive. However, making rooms bigger does not necessarily mean it makes them better. Instead of spending tens of thousands on construction, materials, and labor to expand certain areas of your home, why not make things more efficient instead?
Instead of making your kitchen bigger, why not get rid of some shelves you are not using and instead replace them with more efficient means to store your food and utensils? Expanding the kitchen by just 200 square feet could cost you up to $95,000 dollars, However, getting more efficient custom-designed cabinets would just cost around $35,000. around a third of that, according to This Old House.
Save Money With Recycling Centers
Recycling Centers such as Habitat for Humanity; 's ReStores offer items usually sold at home-center stores at half the price. While these items are salvaged or lightly used, they still work very well and are ideal for people on a budget.
Create Space
This goes back to our first tip regarding being more efficient. Forbes says that instead of tearing down walls and making more space, finding additional spots for storage may be better. Adding more pullout drawers and cabinets could get you that at a fraction of the cost than building more to expand.
Do Not Rework Your Plumbing
While tempting when doing renovations, it is actually best not to tamper with the plumbing that much as this tends to keep costs for renovations up.
Re-routing water lines through your house may mean that your costs will add up just because you want to move a sink. This is not just because of the additional material, but it also means you would have to tear up your house to reroute the water supply and drainage.
Do Not Retile Bathroom Floors, Refresh Them Instead
Speaking of bathrooms, it is also better to leave your tile floors alone if you are on a budget, according to Bank Rate. Not only will purchasing new tiles cost you more, but also removing your old tiles. Painting might be a better way to refresh your bathrooms and this would be far cheaper than retiling. There are tons of unique stencil designs and paint shades to choose from out there and it is surprisingly easier and cheaper than breaking down your bathroom floor, buying new tiles, and retiling your bathroom floor.
