Join us as we dive into how to renovate your home strategically, with practical tips to save money, increase property value, and avoid common mistakes.
The following is a guest post from my bloggy friend Taylor McKnight on behalf of Tivly. Interested in having a guest post on my website? Click here for my guest post submission form.
Renovate Wisely: A Homeowner’s Guide to Cost-Effective Home Improvements
Homeowners often look around their homes and find things that they would like to improve. You may have started to wonder how your walls would look with a different color paint, or you might have more drastic ideas that would require you to knock out a wall or two. The important thing to remember is that renovations can cost a lot of money, but they don’t have to be insurmountable. Find out why you should renovate your home and how you can save money on these renovations.
Why Should You Renovate Your Home?
Lower the Cost of Utilities.
To lower your bills, you must upgrade the appliances in your home. They will be energy-efficient, and this will lower your energy costs. Sometimes, all it takes is adding insulation and replacing your windows. To guide you in finding areas where you can make upgrades, find out which appliances are expending the most heat and electricity, and replace those with energy-efficient options. The more efficient you can say that your house is, the more people will be interested in purchasing it when it comes time to sell.
Increase the Home’s Value.
Renovations make it possible to increase the asking price for your home. You may have a small project to do, like updating a few things in your bathrooms, or it could be much bigger, such as upgrading the entire kitchen, and these renovations will increase the value of your home. To find out what would be the most worthwhile upgrades, you can consult with a contractor or your local realtor.
Upgrade the Function of the Home.
It may be time to add a second bathroom, or you might want to increase the space in your home. For example, some men like to add “man caves” to their properties, or else you may think that it would be nice to have a patio so that you can entertain outside. This is a good idea if the renovations do not decrease the value of your home.
Make an Older Home Look New.
If you have an older home and it appears to be older, it may turn buyers off when you want to sell. The best plan is to select timeless styles that will not need to be upgraded as often.
How to Save Money on Home Renovations
Do the Job Yourself.
If you can make the renovations yourself, you can save a lot of money. This means that the price you pay for your renovations will be at least 10% lower than if you paid a contractor. Doing the job yourself also gives you the opportunity to purchase everything yourself, so you can search for the best prices.
Have Fewer Cabinets.
It may be surprising to read this, but you do not have to have as many cabinets in your kitchen. For example, you can place open shelving instead of upper cabinets, but you can also have a few lower cabinets. You can save money on these cabinets by searching for a cabinet shop owner who will sell you slightly imperfect cabinets for a lower price. One do-it-yourselfer was able to purchase cabinets for $50 a piece this way.
Consult Your Local Contractor.
Your contractor has valuable knowledge, so it is worth your while to ask him or her for advice on which supplies to use. No need to be afraid to ask because contractors are happy to share what they know. They also have relationships with suppliers, and they will be happy to help you get in contact with them. These suppliers offer contractors discounts on their materials, so you may be able to take advantage of these suppliers for discounts as well.
Don’t Take Too Long to Make Decisions.
The best way to ensure that your costs are as low as possible is to make the most important decisions before you begin the work. If you change your mind at the last minute, this can lead to delays that cost a lot of money. Begin searching for your materials, appliances and fixtures long before you are set to begin the work.
What to Avoid When Doing Home Renovations
Underestimating the Cost of Your Renovations
In general, home renovations tend to cost more than the owners expected. That may be because they also take longer than expected. You can prevent this from being an issue for you by overestimating your costs by about 20%. If you find that this price is too high, choose a less expensive project.
Creating a Plan and Expecting Everything to Follow It Perfectly.
This will be an issue especially if your house is older. Anything could be behind a wall in an older house, but things will not always be smooth sailing in newer constructions. You still have to be prepared for anything that can go wrong. Human beings always hope that, if they plan, everything should follow that plan, but this never happens.
Not Paying Attention to Your Home’s Natural Style.
Renovations need to complement the natural style of your home. For example, if you own a ranch house, you are not likely to make it look like a penthouse in New York City. Even if this is a DIY project for you, it will be worth your while to consult with an interior designer. This professional will help you add new style elements to your existing decor.
Doing Everything On Your Own.
Unless you are a contractor and a designer, you must allow the professionals to do certain things. These include roof, plumbing and electrical repairs because they can easily become larger problems if you do not know what you are doing. This can increase the costs significantly.
Written by Taylor McKnight, Author for Tivly
