Despite what your loan provider might have told you, home renovation doesn’t always require a second mortgage. There are a lot of tips and tricks to help you save without compromising your vision. Here are just a few, but it’s really just the tip of the iceberg – once you’ll get started, you’ll find savings opportunities everywhere.
Repurpose and Recycle
- Don’t start by throwing away everything. A lot of items can be reused, and many pieces of furniture or decoration almost certainly can be revamped with a bit of love and attention (and glue and paint, of course).
- Visit recycling centers and look for salvaged materials. A lot of salvage centers can be found all over the country, and they’re huge money savers (not to mention you can get some original ideas, too).
- Instead of disposing of the garbage and waste, try selling it first – the very same salvage centers may be interested in purchasing your materials same as they purchased from others.
Don’t Go Too Deep Unless You Need To
- One of the most expensive things to redo is the plumbing. Do your best to avoid moving the sinks, toilets, showers, and bath tubs. The existing space may seem inappropriately used, but, with a bit of imagination, you can transform it without the need of new pipes.
- Use the existing wiring. It’s the same as with plumbing – these form the skeleton of your house, and having them completely redone is the expensive. If you possible, keep your current electrical work (be careful, though, if it’s obsolete and doesn’t support your new fixtures, you’ll end up spending more money on the long term of small fixes here and there).
- Don’t move out. If pipes and wires are the skeleton of a house, you, the owner, are its heart and soul. It’s tempting to move out when you’re remodeling, so you can get a good night’s sleep and not step in paint the next morning when you get out of bed – but if you leave, things will get out of control easier. You can sleep in improvised conditions for a short period of time, and it will allow you to check the progress at all times.
Good Budgeting Is the Key to Success
- There’s no skill like that of proper budgeting – especially if you’ve not done this kind of work before. Read as much as you can on the topic before starting – some people recommend adding as much as 50% to the amounts you obtain by adding up the estimated costs.
- Remember that it’s not just money that spins out of control, but also time.
- A good source of financing is invaluable. If you need to take a loan, make sure it’s comfortable and scalable enough to support you if you exceed your initial estimates. There’s nothing more frustrating than not being able to finish a remodeling project because you ran out of money at the very end.
And, last but not least: long-term savings are more important than short-term costs. Think carefully whether cutting some corners now won’t end up costing you a lot more in the following years. After all, you’re making an investment that’s meant to last. This article was written by the builders company in Bromley – OBCbuilding. Obcbuilding has been in the building trade since the last 70’s.