Money Saving Renovation Ideas

If you’re looking to renovate your house at the beginning of 2014, the good news is that you’ve picked a great time to start.

At the same time, however, there’s absolutely nothing wrong with shaving the prices off the renovation or even working towards economizing your home for the future. 

Even a saving of $100 from a $20k bill is still extra money for your savings. With that in mind, here are three ways to save money during your home renovation:

Do your work when you can

This can be especially important, as although there are inherent risks involved in DIY, taking your time and doing the job yourself is a sure way of saving money. Contractors usually add around 20% to any job, and that is a lot of money for jobs that are worth tens of thousands of pounds.

The trick, of course, is not to overestimate your abilities and ensure that you know what you’re doing, otherwise the costs could end up being more than you bargained for.

Jobs such as painting the ceilings, attaching a door (or even its handle) offer the perfect starting point for a DIY novice.

Not everything you buy has to be new

For instance, if your contractor is putting down a floor in your home, there is nothing wrong with asking if he stockpiles spare wood from other jobs.

With a little sanding and paint, you could find yourself saving thousands with a little quality wood saved over from here and there.

Contractor Bill Asdal managed to save $8,700 simply by ringing up working sites and buying cheap wood that would have gone to waste.

Remember also to check online. The Used Kitchen Company is one such website that sells unwanted and ex-display model kitchens. For example, where you could spend $15,000 on a new kitchen, you could find a similar five-year-old one for a mere $2,000. A great saving if you’re looking to budget.

Also, don’t be afraid to go into stores The Home Depot when putting the finishing touches to your décor. Though the store is often cheaper than most independent interior design outlets, the quality is often the same or of a higher standard.

Renovate for long term savings

Saving money and looking after the environment is important, and there a few additions that you could add to your house for little or no money, depending on your circumstance.

If you’re lucky enough to live in the UK, when it comes down to heating, the Government is unveiling the Renewable Heat Incentive scheme in early 2014, which will supply financial incentives for non-domestic renewable heat generators for homes in and around the UK.

On top of this, the Green Deal scheme is also available for people to make energy-saving improvements to their homes, which includes help with insulation, heating, draught proofing, and double glazing.

You can find out here if it is worth it for you and your home to be involved in the Green Deal.