Updating and Renovating Your Home: 5 Easy Ways to Save Money

Updating and Renovating

Whether you’ve lived in your house two years or 10, there are sure to be some areas that you want to upgrade or renovate. Maybe you’d like some new flooring for your kitchen. Or perhaps you’d like to paint your bedroom another color. You might even want to transition your basement into a guest room.

One thing that all of these projects have in common is that they’re going to cost some money to do. If you’d like some tips on easy ways that you can save money on updates and renovations, we have five for you below:

Updating and Renovating Your Home 300x155 Updating and Renovating Your Home: 5 Easy Ways to Save MoneyShop at Target, Wal-Mart and home improvement stores. Sometimes there’s a stigma that you can’t get quality items at stores like Target and Wal-Mart. But the reality is that aside from furniture pieces (because sometimes they are made of composite wood rather than real wood), you can outfit a lot your house by going to those kinds of store. Also, when it comes to lighting fixtures, ceiling fans and even cabinets, don’t overlook home improvement stores like Home Depot and Lowe’s. They have a wide variety at great prices too.

Buy floor models and discontinued items. Oftentimes, when we’re in a store and we see a floor model item, we only look at it as something that the store is choosing to display. But did you know that they are usually for sale? And not just that, but you can get them for as much as 30-70 percent off a retail price. The same goes for discontinued items too.

Don’t be afraid to buy something used. Say that you’re planning to refurnish your living room and you want to go with a vintage or antique look. Sure, you could look for replicas of certain eras at various furniture stores, but there’s a pretty good chance that you can find something that is the real thing by shopping at an antique shop, thrift store or even by attending an estate sale. Then say for instance that you find a couch or chair that needs some reupholstering. Go to HGTV or DIY Network and put “reupholster furniture” in the search field for step-by-step instructions on how to make it look just like you want.

Do some negotiating. If you’re planning on adding on a new room, that will require hiring a contractor. Our advice is that you interview 3-5 of them. Once you’ve found one that you like, don’t be afraid to do some negotiating. If you’re willing to pay for their services in cash, you can usually get a pretty impressive discount.

Consider doing some things yourself. When it comes to doing something like putting in a new HVAC unit, being that there is electrical wiring and measuring needed to make sure there is not an incorrect cooling load involved, you should definitely get a licensed technician to do that for you. But that doesn’t mean that there aren’t lots of other things around the house that you can. Websites like HGTV, This Old House, Bob Villa, DIY Network and YouTube can provide you with step-by-step instructions on all kinds of house renovations. By doing some things yourself, it will give you a sense of pride and save you money—all at the same time.

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