How Do You Save on Remodeling Costs?

By administrator On October 5th, 2009

The first thing to check is if you indeed do require a remodeling – you save a lot on prospective remodeling by simply not doing it. But what if you do need a remodel? In that case you have to do some research to find out the best cost saving means so that your remodel gives you the desired look with minimum expense.
• Be intelligent in choosing your source of funding. If it is an addition that you are going for, then it is a major expense and you may require a loan. A HELOC or a home equity loan is any day a better option than a personal loan. If you are already having a mortgage, then you are best advised not to go for a major renovation. Stay away from a second mortgage.

• If you can refurbish old structural elements such as walls and floors, it will always work out cheaper than giving the walls and floors a new finish.

• You will save on cost if you build upward instead of outward. If you go for an addition outward, it will work out expensive because of the foundation work involved.

• As far as possible avoid moving the plumbing because the moment you touch the plumbing, the remodeling costs shoot up. See if you can plan a bathroom and kitchen remodel without having to move the plumbing. The same is true for electrical wiring work.

• Consider all the jobs that can be done as DIY projects; but be careful here. Many jobs are specialized and require more than one person. Also the tools required for certain home remodeling projects are specialized and are mastered with some training.

• Consider staying at your house while the work is on. Renting an apartment is an option but do you really want to do it? It is a cost that can be avoided if you are willing to rough it out for a few days.

• Compare costs between remodeling contractors; ask them about discounts on their labor as well as material. Get references on the people you wish to work with. It will save you both time and money if you’re working with good remodelers that can get a job done right the first time itself.

Leave a Reply