Do I renovate or move? This is a question that many people find themselves struggling to answer. Your family’s needs are changing, so should you spend the money to upgrade or dive into the real estate market to find the right house? Both of these options come with a variety of advantages and disadvantages.
Renovating can be a stressful task and ultimately not solve your problem if you’re looking for a great deal of extra space. Whereas, moving can be just as stressful if you’re looking to make a profit on your home. During a down real estate market, many sellers are faced with the decision to potentially lose money on their home. It’s extremely important to make a decision based on what best suits you and your family financially and functionally.
During this day and age, many homeowners are opting to renovate their home instead of move because they’re considering the cost of energy to heat/cool a larger home. People are taking the size of the home down and putting the detail back in, to make a space more functional for their needs.
If you do decide that renovation is the right choice for you, there are a variety of ways you can prevent your renovation from costing you an arm and a leg. To cut successfully cut home improvement costs, it’s imperative to utilize of a variety of tools, resources, and local experts to get the most bang for your buck. Our Top 10 Home Improvements Discounts are:
1.) Set a Budget—This is the most important money-saving tip, yet the most overlooked. Set a reasonable budget that won’t land you in a financial crisis and stick to it. You can use online resources like home renovation calculators to help you stay on track. After all, if you happen to be under budget after the project is completed, that’s even better!
2.) Refurbish Instead of Replace—You can put slip-covers over furniture, paint appliances or even dye carpets to change the look and feel of a room at a low cost. Not feeling inspired? Utilize social media tools like Pinterest to see how others made their existing items look brand new!
3.) Salvage Unused Materials—Searching your local yellow pages can help you find retailers that have surplus or discount building materials. This is a great way to find wood, carpet, lighting, appliances, etc. at a discounted rate.
4.) Do Your Research—Before you shop for materials, it’s important that you have a vast amount of knowledge regarding the task at hand. You want to make sure your purchasing quality materials at the right price. Search competitor’s prices so you know where your price point should be. Also, make a list of exactly what you need and how much, you don’t want to purchase something you don’t need and end up stuck with it.
5.) Purchase Discounted Gift Cards before Buying—If you plan on getting a large quantity of your materials from Lowe’s, Home Depot or Sears, purchase a discounted gift card for the merchant before you buy. If you purchase a $800 Sears gift card at 10% off you can save $80 right there. Combine this with store sales and coupons to save even more.
6.) Get to Know Local Experts—Do you know someone who is a contractor already? Great! Get in touch with them and see if they can hook you up with a deal for purchasing their surplus materials. If not, ask around and call them. Chances are they’re more than willing to get the extra materials off their hands.
7.) Do It Yourself—If you consider yourself handy with a hammer, you could save a substantial amount of money by opting to install items yourself. Even if aren’t an expert in every area, do what you can yourself and hire a professional for the serious stuff.
8.) Utilize Other’s Goods—Visit as many garage sales, second-hand shops, and discount wholesalers as possible. You will be surprised how many “like-new” materials you’ll find that you actually need. The best part is most of these materials are listed for a fraction of the retail price. What’s better than that?!
9.) Stack up for Savings—Keep an out for your weekly savings circular. These always contain the most up-to-date sales, promotions, and coupons. Also, check out coupon websites like Coupons.com and Retail Me Not for printable coupons for you can use when purchasing appliances and materials.
10.) Match Prices—When shopping at home improvement merchants such as Home Depot or Lowe’s, research prices for specific items you are looking to purchase. Home Depot and Lowe’s have the ability to beat local competitor’s prices by up to 10% for the exact model advertised.
What are your best tips for saving money during a home renovation?
To purchase discounted Home Depot gift cards, click here.
To purchase discounted Lowe’s gift cards, click here.
To purchase discounted Sears gift cards, click here.