Renovating your home can become costly, especially with inflation and rising interest rates. In 2021, homeowners were found to have spent an average of $13,000 renovating the inside of their homes, while outdoor projects totalled an average of $6,600. Projections for 2023 estimate that homeowners will spend more than $25,000, which can feel like a significant setback on a family’s regular budget.
If you still want to push through with your home renovation, listed below are some ways to cut costs:
Decide what to DIY
Do-it-yourself (DIY) is becoming an increasingly popular way to save on overall labour costs when renovating a home. However, it’s crucial to consider your capabilities before tackling a remodelling job yourself. Some processes, like demolition work, painting walls, and cleaning, can be safe and easy to DIY. Renovations like installing a fuse box or repiping bathrooms, on the other hand, may pose the risk of physical danger or cost more in repairs if not done correctly, making hiring a professional the better choice. In general, contractors usually charge 10-20% of the overall cost of the renovation. Hiring a professional may be well worth it if you’re also short on time but can afford the additional expense.
Find cheaper material options
As shared in our post on easy home renovations, making simple changes to your home can elevate its value. But with these improvements, you will need materials to replace or upgrade certain features. If you’re working with a contractor, you can tap into their sources to find a materials supplier. Their connections may give you cheaper rates, helping you save money on construction resources. On the other hand, you may save more if you source the materials yourself. DIYers can benefit from recycled or lightly used fixtures and building materials, often sold at discounted prices at home centres like Habitat for Humanity ReStores. In addition, you can also be the one to pick up the materials to save on delivery costs, which can easily take more than $100 out of pocket. Make sure to consult your contractor about the materials needed before making any purchases.
Avoid moving walls or major fixtures
Avoid moving walls, electrical, plumbing, and gas lines if you’re hoping to keep your costs low. If you choose to have these major fixtures moved, you may need to secure additional permits and specialized labour to relocate and build them. Furthermore, replacing these pipelines may be more effective rather than moving them, which can easily cost an additional $1,000+. Unless the functionality of your new space will suffer without relocation, try to adapt your new room design to the layout of these fixtures instead, such as a bathroom’s toilet and sink. Otherwise, it may be more economical in the long run to wait on your renovation.
Invest in your own cleaning tools
After every renovation, having cleaning tools ready is a must to remove any construction debris. But even after you sweep the area, there can still be plenty of dust and dirt left around the room. To make the most of your time, you can invest in a robot vacuum that can easily pick up leftover particles. Some advanced robot vacuum cleaners have self-emptying bins, allowing them to automatically empty their bins during their runs and leave you time to focus on other hard-to-reach areas. Specific areas you should keep in mind are the tops of kitchen cabinets which are often missed but essential to maintain, considering dust can fall into your food as you prepare it. If you have freshly applied paints, lacquers, and primers that give off fumes, keep the window or door open to let fresh air in while you’re cleaning.
Written by JB Barnes
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