6 Cost Saving Ideas During a Home Remodel
There’s almost nothing more inspiring as a homeowner than having the ability to remodel or update your own home. From updating the kitchen to laying new flooring, remodel projects come in all shapes and sizes—and so do the price tags. Read these six tips to get some cost saving ideas before and during a home remodel.
Research Contractors and Talk to Friends or Family
Once you’ve decided the kind of remodel project(s) need for your home, take some time to research local contractors. Get quotes from at least three in order to do some side by side number crunching. Depending on the project at hand, have a few questions ready to ask about their process for completing this task.
Talking to family and friends who have had a similar remodel completed can help with finding the perfect contractor for your project, and give valuable tips and advice from their first-hand experience. Ask them specific questions, such as what they may have done differently or how long the remodel actually lasted.
Make a Budget with Help from the Off-Season
Staying within budget can be challenging for any remodel. To stay within the right dollar amount, it may be a good idea to schedule your remodel project for “off-season”. Off-season is the time of year most contractors can lead to better pricing due to a slower production need. This type of cost comparison for the off-season can vary based on where you live and what kind of project needs to be done. For example, if your remodel needs are for the exterior of the home, there may be no off-season due to the need for warm weather conditions to work in.
Create Temporary Living Spaces
Remodeling a high traffic room, such as a bedroom or kitchen? Setting up a temporary living area can help avoid spending more money on potentially unnecessary costs, such as hotel stays or dining out. Temporary living tips, such as moving old cabinets to create pantry areas or grilling outside can save the budget and encourage you to get creative with cooking or spending time in your home.
DIY What You Can…Even if You Only Demo
Take on small portions of the remodel you feel comfortable with to lower the overall cost and add your special flair to the overall feel of the new space. Types of projects could include repainting/refinishing shelves or cabinets, installing hardware, or tiling your own backsplash. If the project is solely for professionals, ask if there’s demo you can assist with to help speed up the process.
Ask to Use Leftover Material
Depending on the type of project, you may be able to ask your hired professionals if there is any leftover material from recent remodels that could work with your space. You may find flooring, tile, trim, or other extras that might save money on material costs.
Stick to the Original Plan
One of the quickest ways to go over budget is by changing the original plans. When budgeting, it’s a good idea to leave room for unexpected costs.
Planning the budget for your home remodel, but don’t know where to start? Consider a HELOC with your credit union and put your home to work for you. Making home updates in order to sell your home? Our free, online HomeAdvantage program can get you started with a simple online search for the right real estate agent and more. Ready to search for the perfect home? Contact one of our friendly, knowledgeable Mortgage Loan Officers through our contact form or call 1-877-269-4179.
