Whether it’s your entire house or just a single room, taking on a home improvement project isn’t cheap. The right home improvement projects, however, can be well worth the investment. They can save you money while you’re living in your home, and can help you make extra money if and when you sell your home. But that initial investment doesn’t have to break the bank, either. The following are some ways you can cut down on costs for your next home remodeling project:
When a store is clearing out its inventory, they will often sell their floor samples (or display items) at discounted prices. If it makes sense for your specific project, find out if there are any floor samples that will work for you. For example, if you’re remodeling an outdated kitchen, you may need some new appliances. Modern kitchen appliances can be expensive, but you can save a lot of money if you find any discounted floor samples for sale.
Take on a project you can handle yourself
Labor costs can easily drive up the overall cost of a home improvement project, so if you’re unsure of what room to start with and you’re looking to cut back, take on an easy DIY project. You can also enlist the help of friends and family members, but just be sure that you aren’t taking on a project that you aren’t qualified for. You don’t want to end up spending more money to undo a poorly done project, or even worse, put your safety at risk. Stick to things that are relatively easy to handle on your own if you don’t have experience, such as putting up your own backsplash in the kitchen. Always save the more complex projects for the professionals.
For projects that do require the help of a professional, ask about supplying the materials yourself. If the contractor is also providing the materials, you will usually pay a premium for them. Instead, ask about purchasing the materials on your own. It may involve a little extra work on your end, but it can help you to significantly cut down on the cost of your renovation project.
Avoid ordering online
Depending on what you need, you may want to avoid ordering most (or all) of your materials online. Although online shopping can sometimes help you save money, when you’re talking home renovation projects, it may do the opposite. For one, you may have to pay extra shipping fees, particularly for heavy items. This can eat into your home renovation budget very quickly. Even when shipping is cheap or free, you also have to consider that what you see online might not be an accurate depiction of what it looks like in person. Home renovation projects can be very technical, and you may need something to be a very specific color and match another part of the room perfectly. If you receive the item and it isn’t quite what you needed, you’ll either need to settle or return it. Unless you can bring it to a store for an exchange, you’ll need to factor in the time and shipping costs to send the item back and receive a refund. This won’t only cost you more, but it will just delay your home improvement project.
If you live near just one hardware store, but your weekly newspaper shows advertised sales for other hardware stores that are somewhat nearby—or you notice a great sale online—ask your local store about price matching. Many stores are willing to price match the lowest price you find, but just make sure you bring in the circular, advertisement, or your smartphone if the deal is online.
Do you need extra cash to take care of bills and expenses, or to take on a large expense, such as a home renovation project? Peachtree Financial Solutions can help if you’re receiving long-term payments from an annuity or structured settlement. Contact Peachtree Financial Solutions today to learn more about selling future structured settlement payments for a lump sum of cash.
Nothing above is meant to provide financial, legal, or tax advice. You should meet with appropriate professionals for such services.