Home improvement projects, such as additions and renovations, can add real estate value to a consumer's home and make it more fitting to homeowners' tastes. However, making home improvements do not have to break the bank and many owners can make wide-ranging updates to their properties on a budget.
There are several ways homeowners can save money on their home improvement projects, and being diligent about how they go about their upgrade and the materials they use allows them to save without sacrificing quality.
Develop a concrete home improvement plan
Knowing in advance what improvements to make is the first step in keeping costs low, according to Fox Business. Homeowners who are unsure of exactly what they are looking for in an upgrade are likely to make several changes when the project is underway, each of which can cost them hundreds to thousands more. To avoid this problem, homeowners should develop a detailed and comprehensive plan that outlines each alteration they plan to make. Not only will this help the project go more quickly, but it will help owners track each phase.
In addition, homeowners should speak to the professionals in charge of each phase of their improvement to ensure that all building codes and permit requirements are up to speed. This can help owners avoid any additional permit costs or penalties that may arise, and prevent costly delays.
Buy your own building materials
Homeowners can also save money by purchasing the materials they plan to use themselves, rather than relying on contractors, the news source reports. This is primarily because contractors may mark up building supplies and make it more difficult for owners to stay on budget. Instead, owners can speak with a professional at a home improvement or supply store to find out which products will work best with their particular project and get several quotes on the final cost.
Individuals may save even more by purchasing recycled materials. Many recycled supplies are overstocked and are often sold at steep discounts, sometimes as much as 50 percent, Fox Business reports. Homeowners should also consider the costs of re-decorating or furnishing their new space. Warehouse stores, yard sales, flea markets and online stores can provide unique home accents and accessories for less.