Whether you are preparing your home for sale or you just want to make your living situation a little better, remodeling your home is an important decision. Most homeowners will invest thousands of dollars in a home remodel, hoping to get a return on investment in the long run. Unfortunately, choosing the wrong remodel focus or spending money unwisely can guarantee you will not be seeing a return on investment.
While everyone knows doing a bathroom or kitchen remodel can offer you a great boost in resale value, you may not be so sure whether that in-ground pool or in-home theater is going to pay off. If you are simply wanting to do a remodel to improve your living space, you may be looking for ways to cut costs. Included here are a few tips for saving money on your home remodel.
While you may believe the only way to perfect your kitchen is to make it bigger, there could be a far more affordable option. For instance, while expanding your kitchen by 200 square feet could cost you anywhere from $50,000- $100,000, installing a custom kitchen cabinet system could be less than $40,000. Thinking about storage smartly could help save you thousands of dollars and make your kitchen feel bigger, without the significant remodel.
Additionally, one reason many people are looking to remodel is because they believe they need more space. In reality, they often need to cut back on their stuff. With a huge percentage of four-person American families living in homes over 2,400 square feet and renting a storage unit on the side, it is clear that they have too much stuff. By cutting back on belongings, you may be able to decrease the size, cost, and need of your remodel, not to mention earn money from selling your stuff!
While nearly everyone these days is obsessed with “new,” often the answer to staying on budget can be in reusing. Many stores, like ReStore, offer items that have been salvaged from homes or businesses for a very low price. You can find premium items, from marble countertops to wrought-iron railings, for a fraction of what they would cost new. Consider buying used and reusing an item to stay within your budget.
Additionally, you can save enormous amounts of money during demolition by inviting Habitat for Humanity out to do the takedown. For a small cost, Habitat will come to your home and remove and salvage fixtures, cutting your demo costs and saving you the hauling fees. You also can receive a tax deduction and know you are doing something to give back to the community.
Categories: Real Estate