Approximately two-thirds of consumers are planning on renovating their homes in the near future. Renovating can be stressful, but it’s actually a lot of fun, as well. If everything goes according to plan, you could end up improving the visual appearance of your home, while increasing your home’s overall resale value.
According to the U.S. Census Bureau, 40% of remodeling activity was for minor additions and alterations, 30% of remodeling activity was for major additions and alterations, and 30% was for maintenance and repair needs. No matter what kind of household improvement you’re planning, you have to make sure you’re not going over budget and wasting a significant amount of money.
Here are some great ways to scale back and cut down your household remolding costs:
- Plan out everything — Proper planning is great for helping you stick to your budget. Make sure you sit down and really consider each and every aspect of your upcoming household remodeling project.
“You’ll end up making the same decisions, but you’ll know what they’re going to be and what they’re going to cost ahead of time,” said Ridley Wills, founder of design-build firm The Wills Co.
- Go for quality — Although you don’t need to purchase the most expensive tools and the priciest materials, you need to focus on quality. This might actually increase your remodeling cost a bit at first, but investing in quality will certainly pay off in the long run. For instance, there are 15 different types of siding. If you opt for the cheapest material, you’ll likely have to spend more money down the road on repair costs.
- Make smart lighting choices — Before you start ripping holes in the side of your house and start installing some new windows for some lighting boosts, consider taking advantage of more cost-effective lighting. Using light tubes, for instance, can improve your home’s lighting and save you a significant amount of money.
On average, the cost to add a double-pane insulated window inside a home is about $1,500. Conversely, you can purchase a light tube for only $500, saving you $1,000.
- Check local regulations — Make sure you check all zoning and construction regulations in your area to avoid legal and financial issues down the line. Additionally, it’s important to figure out what kind of permits you will need to use throughout your remodeling project. Rather than jumping right into your home renovation task, do a little research beforehand. Working with professional contractors can help ensure that you’re not only getting the right permits, but quality job performance, as well.
- Communicate effectively — If you’re working with professional contracting remodelers, make sure you discuss everything with them before, during, and after each remodeling project. These professionals have plenty of skills, but the ability to read minds is not one of them.
“Let the company supervisor or project lead person know if anything is unsatisfactory so they can deal with the issue,” added Jeff Hurst, a certified remodeler. “The contractor may not be aware that something is not OK with the owner.”
Don’t let your remodeling ideas get ahead of your remodeling budget. As long as you’re following these tips and are being careful with your budgeting and planning, you should end up with a great looking, new, and improved home.