How to Save Money When Remodeling A Home

Remodeling a home can be an expensive and complex undertaking.

If you’re not careful, it could be easy to overspend and end up with a project that doesn’t meet your needs or fit your budget.

That’s why it’s so important to do your research and make a plan before you start your remodeling project.

By taking the time to carefully plan and prepare, you can make sure that your remodeling project is cost-effective and that you get the best value for your money. With the right approach, you can remodel your home in a way that meets your needs and fits your budget, while still ensuring that the finished project is beautiful, functional, and long-lasting.

Here are some of the things you can do that can help you to save money as you go through a remodeling project of your own.

Set A Budget And Stick To It

Set a budget and stick to it. Before starting any remodeling project, it’s important to have a clear idea of how much you can afford to spend, and what the costs fo your project are going to be. This will help you avoid overspending and ensure that you stay within your means.

Make a copy of our spreadsheet on Google Sheets to keep track of your own project!

• Remodeling Expense Tracking Spreadsheet on Google Sheets

Here are some things you can do to stay on budget.

1. Determine how much money you can afford to spend on your remodeling project. Start by looking at your income and expenses to determine how much money you have available to spend on your project. Be realistic and don’t overextend yourself financially.
2. Make a list of all the costs associated with your project. This should include materials, labor, permits, and any other costs that you can think of. Be as detailed as possible to ensure that you have a complete picture of all the costs involved.
3. Prioritize your spending. Once you have a list of all the costs associated with your project, prioritize them based on importance. This will help you determine where you can cut costs if necessary.
4. Research prices for materials and labor. Take the time to research prices for materials and labor so that you have a good idea of what to expect. This will help you avoid overspending and ensure that you stay within your budget.
5. Look for ways to save money. Look for ways to save money on your project, such as by using cheaper materials or doing some of the work yourself. Every little bit helps, and the more you can save, the closer you’ll be to sticking to your budget.
6. Use a budgeting tool or app. There are many budgeting tools and apps available that can help you track your spending and stay on budget. These can be useful for keeping your spending in check and ensuring that you don’t overspend.
7. Be prepared for unexpected expenses. No matter how carefully you plan, there will always be unexpected expenses that come up during a remodeling project. Be prepared for these by setting aside a contingency fund to cover any unforeseen costs.
8. Review your budget regularly. Review your budget regularly to ensure that you’re staying on track. This will allow you to make any necessary adjustments and keep your project on track and within your budget.
9. Don’t be afraid to make changes. If you find that you’re not able to stick to your budget, don’t be afraid to make changes. This could mean cutting back on certain costs or finding alternative materials or labor to help you save money.
10. Be disciplined. The key to sticking to your budget is discipline. Be disciplined in your spending and make sure to carefully track and monitor your expenses to ensure that you stay on track.

Shop Around For Materials And Compare Prices. 

Don’t be afraid to shop around and compare prices for materials. You may be able to find the same materials for a lower price at a different store or online.

• Research different stores and suppliers. Start by doing some research to find out which stores and suppliers offer the materials that you need for your project. Look for both brick-and-mortar stores and online retailers to see what options are available.
• Compare prices. Once you have a list of potential stores and suppliers, compare their prices for the materials that you need. Be sure to take into account any sales or discounts that may be available.
• Check for additional costs. In addition to the price of the materials, be sure to check for any additional costs that may be associated with purchasing from a particular store or supplier. These could include things like delivery fees or installation costs.
• Consider quality. While price is important, it’s also important to consider the quality of the materials that you’re purchasing. Cheap materials may save you money in the short term, but they may not last as long or perform as well as higher-quality materials.
• Read reviews. Before making a purchase, be sure to read reviews of the materials and the store or supplier. This can help you get a better idea of the quality of the materials and the customer service that you can expect.
• Ask for quotes. If you’re unsure about the price of a particular material, don’t be afraid to ask the store or supplier for a quote. This will give you a more accurate idea of how much the material will cost and allow you to compare prices more easily.
• Negotiate. If you find that a store or supplier is offering a higher price than you’re comfortable with, don’t be afraid to negotiate. You may be able to get a better deal by offering to purchase a larger quantity of materials or by pointing out a lower price that you’ve seen elsewhere.
• Don’t be afraid to shop around. Don’t settle for the first price that you see. Take the time to shop around and compare prices from multiple stores and suppliers to ensure that you’re getting the best deal.
• Keep an eye out for sales and discounts. Be on the lookout for sales and discounts on materials. Many stores and suppliers offer periodic sales or discounts on their materials, so keep an eye out for these to save even more money.
• Don’t rush. Don’t feel pressured to make a purchase right away. Take your time and shop around to ensure that you’re getting the best deal on the materials that you need for your project.

Consider Cheaper Alternative Materials

Consider using cheaper, alternative materials. Depending on the project, there may be cheaper alternative materials that you can use that will still get the job done.

For example, instead of using expensive granite countertops, you could use a cheaper alternative like laminate. Instead of wood floors, use cheaper engineered wood flooring.

Do The Work Yourself

Do some of the work yourself. If you’re handy and have some experience with home renovation, you may be able to save money by doing some of the work yourself. This could include tasks like painting, demolition, or installing fixtures. By doing the work yourself, you can avoid paying labor costs and potentially save on the overall cost of your project.

However, there are also some potential drawbacks to doing the work yourself. For one, it can be time-consuming and require a significant investment of your time and effort. Additionally, if you’re not experienced in home renovation, you may end up making mistakes that could be costly to fix.

Another potential disadvantage is that doing the work yourself may limit your ability to take advantage of bulk discounts on materials or negotiated labor rates. A professional contractor may be able to get better deals on materials and labor, which could save you money in the long run.

Overall, whether or not doing some of the work yourself is a good idea will depend on your individual situation. If you’re experienced in home renovation and have the time and effort to invest, it could be a good way to save money on your project. However, if you’re not comfortable with the work or don’t have the time to do it yourself, it may be better to hire a professional contractor.

Avoid Big Changes To The Layout Of Your Home

There are a few reasons why you might want to avoid making changes to the layout of your home when remodeling. 

One reason is that making changes to the layout of your home can be expensive, especially if it involves moving or removing walls, electrical lines, water lines, etc. This can add significant costs to your remodeling project and make it more difficult to stay within your budget.

Making changes to the layout of your home can also cause delays, as it may require additional planning and approvals from your local building department. 

Finally, making changes to the layout of your home can also be disruptive to your daily routine, as it may involve tearing out existing walls and floors, which can create a lot of dust and debris. In general, it’s best to avoid making changes to the layout of your home unless they are absolutely necessary.

Don’t Be In A Hurry

There are a few reasons why it’s important to not rush a remodeling project. One reason is that rushing a remodeling project can cause mistakes and poor-quality workmanship. 

When you’re in a rush, it’s easy to overlook important details or to make mistakes that can have a big impact on the quality of the finished project. Additionally, rushing a remodeling project can also cause problems with the materials and products that are used. For example, if you rush to install new flooring, you may not give the adhesive enough time to cure properly, which can result in problems down the road.

Another reason why it’s important to not rush a remodeling project is that it can be stressful and overwhelming. When you’re under a tight deadline, it can be easy to feel overwhelmed and to make decisions that you later regret. Rushing a remodeling project can also create conflict between you and your contractors or other members of the remodeling team. When everyone is working under pressure, it’s easy for misunderstandings and disagreements to arise, which can lead to delays and added costs.

In general, it’s best to take your time with a remodeling project and to make sure that you carefully plan and manage every step of the process. This will help ensure that the project is completed to your satisfaction and that you are happy with the final result.

Don’t Over-Improve Your Home For The Neighborhood

Avoid over-improving your home. While it’s important to make sure your home is up-to-date and well-maintained, if you make your home too nice for the neighborhood, you may not see a good return on your investment when it comes time to sell.

Over-improving your home can make it difficult to sell in the future. If the value of your home is significantly higher than the other homes in your neighborhood, it can be difficult to find buyers who are willing to pay that much for a home in that area. This can make it difficult to sell your home and can limit your options when it comes time to move.

Another reason why it’s important to not over-improve your home for the neighborhood is that it can lead to higher property taxes. In many areas, property taxes are based on the value of your home, so if you over-improve your home, you may end up with higher property taxes than your neighbors. This can be a financial burden and can make it more difficult to afford to maintain your home.

Finally, over-improving your home can also lead to resentment from your neighbors. If your home is much nicer than the other homes in the neighborhood, it can make your neighbors feel jealous or envious. This can create tension and conflicts between you and your neighbors and can make it difficult to enjoy living in your community.

In general, it’s best to avoid over-improving your home for the neighborhood and to make sure that the improvements you make are in line with the other homes in the area. This will help ensure that your home is a good investment and that you are happy with the results.

Look For Sales, Discounts, Coupons, Rewards Apps

You may be able to save money on your remodeling project by keeping an eye out for sales and looking for discounts on materials and fixtures.

There are a few places where you can find sales, discounts, cash back and rewards when shopping for materials for your remodel. 

One place to look is at your local home improvement store, as many of these stores offer regular sales and discounts on a variety of materials and products. You can also check the store’s website or sign up for their email newsletter to receive notifications about upcoming sales and discounts.

Another place to look for sales, discounts, and cashback is online. Many online retailers offer regular sales and discounts on a variety of materials and products, and you can often find even better deals by shopping on sites like Amazon or Overstock.

You can also use rewards apps or websites, such as Rakuten, Honey, Capital One Shopping or Swagbucks, to earn rewards on your purchases.

• Rakuten
• Capital One Shopping
• Swagbucks
• Honey

Finally, you can also look for sales, discounts, rewards and cashback by contacting the manufacturers of the materials and products you need for your remodel. Many manufacturers offer coupons and rebates on their products, and you can often find these offers on their websites or by contacting their customer service departments.

Once you have found the sales, discounts, and coupon codes, make sure to stack discounts as far as is allowed.

For example, we recently bought a refrigerator, microwave, and dishwasher for our remodel. We bought all three units on sale, got an extra discount because we bought all 3 together, and then we got $50 in rewards by using Swagbucks. When all said and done, we saved several hundred dollars through sales, bundle discounts and cashback sites.

There are many places where you can find sales, discounts, and rewards when shopping for materials for your remodel. By looking in a variety of places and taking the time to compare prices and offers, you can save a significant amount of money on the materials and products you need for your project.

Use Energy-Efficient Products

Using energy-efficient products is one way to save money on your remodel, over the long term.

Energy-efficient products use less energy to perform the same tasks as conventional products, which means that they can help you reduce your energy consumption and save money on your energy bills.

For example, switching to energy-efficient light bulbs, such as LED or compact fluorescent bulbs, can help you save money on your lighting costs. These bulbs use less energy than traditional incandescent bulbs, and they also last longer, so you won’t need to replace them as often.

Similarly, using energy-efficient appliances when you remodel, such as refrigerators, washing machines, and dishwashers, can also help you save money on your energy bills. These appliances use advanced technologies and design features to reduce their energy consumption, so they can help you save money on your utility bills while also reducing your carbon footprint.

In addition to using energy-efficient products in your home, you can also save money by making other energy-saving choices, such as turning off lights and appliances when they are not in use, using a programmable thermostat to regulate your heating and cooling, and sealing air leaks and adding insulation to your home to reduce energy loss. By making these changes, you can save money on your energy bills and reduce your impact on the environment.

Saving Money On Your Home Remodel Project

There are a lot of ways to save money on a home remodeling project, and it’s important to do your due diligence in order to take advantage of all of them.

Whether it’s setting a budget and sticking to it, shopping around to save money on materials and costs, or considering doing some of the job yourself, exploring all the avenues to save are key.

Have your own ideas and ways to save money on a home remodel? Tell us what they are in the comments!