The Ten Best Ways to Save When You Remodel Your Home By Dan Fritschen
 Most people love to save money, especially when they are spending a large amount for a product or service. Remodeling is a significant investment in your home. Saving on remodeling costs will undoubtedly give you a good feeling. Saving on your remodeling costs can also result in a better return on your remodeling investment when you decide to sell your house.
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I have recently been collecting ideas on ways to save on remodeling and home additions projects. At last count, my collection exceeds 350 ideas and here are the ten best ways to save when you remodel your home.
- Plan to save.
You know the old adage, “If you fail to plan, you plan to fail.” Saving money on the cost of your home remodeling project is, first and foremost, a matter of planning to save. Saving money must be an intentional part of every decision and every choice you make.
- Consider energy efficiency.
Choosing materials, designs, appliances and fixtures that are environmentally friendly and energy efficient can save you a surprising amount of money when you remodel. First, choosing energy-efficient appliances, windows and fixtures can earn you a nice tax credit. Second, making your remodel energy efficient might qualify you for special terms on your remodeling loan. Third, your utility company might offer a rebate when you install energy-efficient appliances. Fourth, you will save over the entire life of the materials and products you install for improved energy efficiency in lower utility bills every single month.
- Know the prices of the materials you will need.
Whether you plan to shop for your materials and fixtures or you plan to have your contractor purchase materials for your remodel, it is important that you know the cost of these items. Materials and fixtures are available in more than one quality level. You should know the average cost of the materials needed for your remodel in the level of quality you want in your home.
- Shop till you drop.
Shopping for your remodeling materials, fixtures, appliances and other items is one of the best ways to save a bundle when you remodel. Shop at the stores, shop online, shop bone yards and overstock shops. Compare prices, watch for sales, and always consider discontinued models.
- Choose your payment and financing options carefully.
Shop around before you commit to any financing option. Shop for the best rates and the best terms on a remodeling loan. If you are purchasing your materials, fixtures, etc. think before you pay. First, ask about a zero interest financing option. Second, pay with a credit card that pays you back a percentage of your purchases.
- Create a low-impact design.
You can reduce cost by reducing work. Think creatively about a remodeling design that accomplishes the changes you want without a lot of expensive structural change. For example, don’t move a load-bearing wall. In fact, don’t move walls at all unless absolutely necessary. Or use a bump-out to extend your kitchen enough to add a breakfast room instead of extending the room with a complete foundation. Keep appliances and plumbing in the same place if possible. Install new windows that are the same size as the ones you have now.
- Reallocate existing unused or under-used space instead of adding on.
Before you commit to the cost of adding a room, consider finishing a basement or an attic into a new room. The cost of remodeling these areas into living space is much less than the cost of completely adding a room to your house. You will save on foundation, framing, walls, and flooring cost.
- Choose low- or no-maintenance exterior materials.
Using low-maintenance or no-maintenance exterior materials will probably save some on the initial cost of the materials for your remodeling project. The choice of these materials will also save you money for years to come by either reducing or eliminating the cost and time of routine maintenance and early replacement. Manufactured materials, vinyl decking and siding, and a metal roof will result in big savings on upkeep for the next ten years or more.
- Use factory-built materials and items whenever possible.
Using factory-built items such as roof trusses instead of site-built rafter systems or using pre-built cabinets instead of custom cabinets will save a nice bit of money. Usually custom or on-site work is more costly than using products built in a factory. There is enough variety available in materials and design that you can surely find an appropriate pre-built product.
- Get involved and do some of the remodeling tasks yourself.
Whether you are an experienced do-it-yourselfer or a complete novice in home improvement, there are things you can do to reduce labor costs on your remodel. Whether you decide to manage the whole project, assemble kitchen cabinets, finish or paint trim pieces, or just clean up the site at the end of each day, your involvement can save money. If you are using a contractor, talk about how you can be involved in productive and helpful ways.
There are many ways to save money on virtually any remodeling project. If you plan to save and intentionally look for cost-cutting opportunities that don’t sacrifice the quality of the work, you should find them and capitalize on them. Use these ten ways to save as your starting point. These savings tips will also help you discover other ways to save with a little creative thinking. So, get involved in every phase of your remodeling project. You can find ways to save a bundle on your home remodeling project.
If you found this article helpful, you might also want to read:
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Home Renovation Costs Can be Rolled into Mortgage
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