Do you have a spare room that isn’t earning its keep in your home? What about a basement or garage that could do more? It might be time to renovate these spaces, but how can you achieve this without breaking the bank during tough economic times? The answer lies in the article below; use these ideas as practical tips or creative inspiration to transform your home and life.
Make a Budget
Renovating on a budget doesn’t mean doing it on the cheap; even luxury homeowners use budgets to control the spending on a project. If you create a budget for your project, it makes completion more realistic and reduces the risks of overspending on your DIY home projects.
Decide on what you want to achieve with your renovation project, do you want to install a new kitchen, transform a spare room, or create an outside patio area for the summer? Once you have decided on your project, it’s time to set a budget and find ways to stick to it throughout.
Pay Cash
If you want to save money on your home renovation project, try to pay cash whenever you can. Although it is sometimes harder to pay out large sums at short notice, you save a lot of money on interest, that’s unless you have a credit card with zero interest, or you can pay it off directly.
Creating a financial strategy for your renovation project helps you maintain control of your spending and save money. If you decide to pay cash, for instance, it means you can negotiate on the price of a furniture item or choose an item that is secondhand instead of brand new.
Buy Thrift
On the topic of secondhand items, buying from thrift stores is an excellent way to save and create an interesting and authentic home. Not only that, you contribute to the circular economy and to Net Zero efforts in your local area. Forget about buying new; secondhand is better.
In a local thrift store, you can find some bargains; you also get an idea of the style in the local area. Often, local houses and estates have similar interiors, so you source new furniture items for less that fit in with your home quite nicely. There are excellent reasons for thrift shopping.
Wood Panels
Wood panels make excellent wall decorations in bedrooms, living rooms, and garden rooms, but wood panels can be difficult and expensive to install. If you want to install wood panels in your home, you will have to hire the services of a professional joiner which eats into the tight budget.
One excellent alternative is to use peel-stick reclaimed wood panels that are cheaper to buy and easy to install. These wood panels are indistinguishable from the real thing, and they can be installed in minutes. There is no need for glue, nails, and joints; simply peel the back and stick.
Take Your Time
When it comes time to redecorate, there is a temptation to do everything at once; after all, you will have to upset your normal life, so why not take care of everything? The trouble is it can be super expensive to renovate everything at once, and using credit; you can spread the costs.
Plan your renovation projects over the long term and take care of one area of the home at a time if you want to get the best value for money. Of course, you will have to make sure you get a low or zero-interest credit card to pay for the work, but again, this is possible and cost-friendly.
Reuse Materials
Reclaimed wood and secondhand furniture are excellent ways to save money on renovation projects. Often, people don’t realize there are reclaimed wood depots in their local areas; these places collect wood of all kinds from unsold stock and building sites, selling it for a lower price.
If you have a garden project, a DIY project, or you want to renovate part of your home for less, find a reclaimed wood depot in your local area and pay it a visit. Additionally, you might want to buy some secondhand furniture; this is also easy to find in local stores where you find bargains.
Buy in Sales
If you want to renovate your home for less, wait until the sales roll around and stock up on the perfect furniture set or extras for your home. Black Friday sales start at the beginning of December for a short time, so bide your time and grab a bargain. January sales are also good.
If you miss the January sales, you can probably pick up some bargain furniture in the spring and summer through various outlets that offer seasonal sales. It’s worth considering a renovation project to coincide with the sales so that your home renovation project is easier and cheaper.
Hire Help
There is a tendency to do everything yourself on a renovation project to help you save money, and while this seems sensible, it is not always the best idea. If you don’t have suitable skills such as electrical skills, plumbing skills, or carpentry skills, you might end up causing some damage and needing a professional in any case. Hire help if you think you might need support.
Saving Hacks
Custom-made furniture or handmade furniture using reclaimed wood might be the stylish way to go, but it’s not always the cheapest or the most sensible. Why not visit IKEA for your furniture instead? It might not be quite as rustic or original as your cottage core ideas, but it saves a lot of money and time. Use IKEA furniture to help stretch your budget and install high-quality items.
Final Thoughts
We live in tough economic times with the rising cost of living and high energy prices, but don’t let that stop you from renovating your home and having the property of your dreams. Renovation projects don’t have to break the bank; with some effective planning and smart material choices, you can transform your home on a budget while the economy is crashing.
