How to Renovate a House on a Budget: 4 Essential Tips to Know

Want to learn how to renovate a house on a budget? Here are some helpful tips for making home improvements without busting the bank.

The average homeowner spends over $6,000 each year on renovations around the house.
Regardless of whether you just moved into a new home or if you’ve lived at the same place for 20 years, odds are you have a few renovation projects in mind. But, coming up with an extra $6,000 to complete these projects isn’t always easy.

Want to learn how to renovate a house on a budget? Keep reading to discover helpful tips for making home improvements without busting the bank.

1. DIY Whenever Possible

The number one piece of advice for those asking how to renovate a house is using the do-it-yourself method. It may seem obvious, but so many people are willing to spend unnecessary money to avoid a little hard work.
DIY Whenever Possible
If you’re on a budget, doing renovations yourself can allow you to make many more improvements to your home.

Figure out which project is next on your to-do list then start researching how to do it. A quick internet search and a few video tutorials may be all that stands between you and the necessary knowledge.

If you need a little help, don’t be afraid to ask friends or family members. You may already know someone with the skills to complete the job.

2. Make Lists Your Best Friend

With a little organization and a few lists, home improvement jobs become a lot easier.
Start a folder on your computer for all home improvement related information. If you’re serious about renovating on a budget, it will take some research.

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Here are a few lists to start creating:

  • A master list of all renovation projects
  • A breakdown of what each specific product entails
  • A list of what supplies/materials you need
  • A comparison of item costs from different stores

You get the picture. The more you can prepare and compare, the more money you can save.

3. Think Refurbished

Along with doing the renovation work on your own, consider refurbished items and materials instead of brand new ones.
Think Refurbished
Habitat For Humanity and Goodwill are great places to shop for used furniture and materials. Don’t forget to check out the local garage sales and online listings as well. Sometimes you can even find unused materials for sale if someone else didn’t get around to their own renovations!

4. Don’t Forget About Unexpected Costs

The last thing you want to happen during a big renovation project is to run out of funds. This makes budgeting for unexpected costs a major part of the renovation process.

Never budget all your available funds into a home renovation project. A good rule of thumb is to pad your budget by anywhere from 10 to 25 percent. This way, unexpected items won’t derail the project and you could end up with extra money on your hands at the end.

Don’t forget to also budget for costs that may occur after you complete the project. This could include anything from increased property taxes to higher utility bills.

Knowing How to Renovate a House on a Budget

Knowing how to renovate a house on a budget is an amazing skill to have.
Knowing How to Renovate a House on a Budget
No home is ever going to be perfect. Odds are you’ll have a never-ending to-do list full of home renovations. With these tips and a little creativity, hopefully, your list will grow a little shorter.

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