It’s no secret that the right renovation can add long-term value to your home. But spending thousands of dollars on a new kitchen or a home office can feel extravagant — especially in an unstable economy.
Discover: New Law Gives You $8,000 for Free To Make These 5 Home Renovations
Learn: How To Build Your Savings From Scratch
Don’t let a tight budget deter you. Whether you’re looking to add to your home’s resale value or just eager to transform a so-so space into something to brag about, here are several ways to keep your home renovation cost down.
Also see renovations to avoid in this economy.
Have a Plan
If you’re hiring a contractor to do your home renovation, it’s important to come in with a clear vision of what you want your new space to look like.
Patrick Grayson, founder and CEO of Paramount Property Buyers, advised that knowing exactly what you want allows for better communication between you and your contractor, which makes it easier for your contractor to give accurate estimates.
Grayson also noted, “A well-defined project plan also gives both sides time to consider any potential changes or additions before work begins, helping to avoid costly revisions later on.”
Do Your Research
That said, creating a detailed Pinterest board isn’t enough. It’s smart to come in knowing what kinds of materials you’re interested in using in the renovation.
For example, if you’re redoing a bathroom, take the time to research what kind of tile you’re interested in using and whether there’s an option that you can afford.
Also, don’t be afraid to compare and contrast costs.
“Always look around for the best prices, don’t be shy to negotiate and remember to ask for discounts, especially when buying in bulk,”
