You’re not alone if you’ve been dreaming about renovating your house this past year. Up to 58% of homeowners say they’re planning to spend money to improve their homes.
But just because you want to renovate your house doesn’t mean your bank account is on-board. Fortunately, with money-savvy millennials making up the largest percentage of homeowners at 45%, there are many ways you can learn to save money on a renovation.
Here are five tips to help you renovate your home on a shoestring-budget without breaking your bank account.
- Renovate what matters most. Your new cabinets won’t mean anything to you if your kitchen is still too small to cook in comfortably. According to a 2017 study by the National Kitchen and Bath Association, over 10 million American households remodeled their kitchen in a single year. Figure out what makes certain areas of your home dysfunctional before you renovate them. Remember that renovations are meant to solve problems.
- Don’t replace what isn’t old or broken. It’s true that everything in your home looks great when it’s new. But it’s not unusual for the appliances in a kitchen or around your home to be more than 10 years old. To save money, don’t replace appliances that are in good working condition and aren’t expected to need a replacement any time soon. Instead, replace the things around your home that are eating into your energy efficiency. For instance, 30% of a home’s heating energy is lost through its windows.
- Avoid making big changes unless it’s necessary. You don’t need to replace your home’s kitchen cabinets if you want a lighter kitchen. Instead, you can paint the cabinets white yourself or hire someone to do it for you. Even if you hire a professional painter, you’ll still be saving thousands of dollars by using the same cabinets you already had. Just be sure, if you DIY the project, that you’re following all the necessary steps to avoid a disaster.
- Change up your hardware. If your home is functional, but you’re looking to spice up the design a little, you can actually do this by just replacing the hardware. New cabinet pulls, knobs, kitchen faucets, and bathroom faucets around your house can do a lot more for your home’s aesthetic than you think.
- Focus on countertops and paint. Your kitchen countertops and bathroom countertops are highly visible. That being said, if you’re looking for a dramatic makeover in your home, the countertops are a good bet. Consider the different countertop materials that work best for your lifestyle. Don’t just choose granite countertops because they’re all the rage right now. Some homeowners prefer laminate countertops while overs prefer butcher block. Another highly visible part of your home is the walls. Filling in nail holes and giving your walls a fresh coat of paint can give your home the facelift you’ve been looking for on a small budget.
When you’re looking to update your space, it can be challenging to stick to a budget. But by following the tips above, you can give your home a whole new look without breaking your bank account.