No need to scrap, just adjust the remodel! Photo Credit: Chatham Journal
Reusing aluminum foil. Wearing threadbare clothing. Driving the same car for 10 years. These are all things our parents and grandparents did that we scoffed at. Didn’t they know they could easily replace those things?
Well, things have changed. Few homeowners have any equity these days. This, along with new bank loan restrictions is making renovation projects a farfetched fantasy – but it doesn’t have to be that way.
The truth is you don't need to put off your home remodel. Just find a smarter way to go about it. Here are 3 big ways to do so:
Instead of sacking your home improvement plans, just modify them to fit into a smaller budget. If you’re planning a full renovation, take a second look at your plans and see if there’s a way to do it more cheaply, such as:
Use less expensive materials.
Go one room at a time as your budget allows.
Handle some of the tasks yourself before turning to a contractor.
Less is the new more. Simple-minimal is the new opulent. A bold use of color mixed with wide, open spaces can give your home a new image, and it won’t cost nearly as much as filling your spaces with lots of furniture, appliances and display items.
Additions are a great way to gain extra living space and increase the value of your home, but they can be expensive. Instead of adding another bedroom, bathroom and office onto your home, condense your plans. You could build on a smaller bathroom and an office that doubles as a guest bedroom instead.
Repurposing is always cheaper than adding on. It will still be a significant home improvement project, but will cost much less than a new addition. Nearly any room can double as something else. A bedroom can also be a study or office. An office can also be used for a music or hobby room. A dining room can double as an art studio. Even a bathroom or kitchen can be redesigned to incorporate an area for a washer and dryer.
Making a multi-purpose room takes careful planning, but in doing so you can make better use of the space you already have.
New polls are finding that today’s remodeling homeowners are no longer as concerned with eco-friendly materials as they were a short time ago. It isn’t that they don’t care about the environment anymore, but that many green items cost more than their budgets allow.
So what do they care about? Saving money on energy bills. Luckily, there is a way to do both. As you’re shopping for materials for your renovation, look for energy-saving appliances, features and products that are also made more responsibly. It may take extra time in research and comparison shopping, but it is possible to find these items for comparable costs.
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