Save Big on Your Home Remodel

Written by: Jennifer Kardish – Cheap Kitchen Cabinets

You loved your house when you first moved in, but since then, you’ve become annoyed by poor layout, wasted space, leaky faucets, creaky floors, and all the things that come with buying a used home.  But what can you do?  We’re in a recession, after all, hardly the ideal time to consider renovations, right?  Wrong.  In fact, now is the perfect time to remodel and save big.

For starters, most merchants will do just about anything to get your business, from sales to price-matching, so be sure you use it to your advantage when shopping for materials.  Ditto on labor.  Contractors and installers can cost an arm and a leg in a booming economy, but pretty much anyone involved in real estate or renovations is scrambling to find work right now, so let it be known that you are fielding several bids and you may be able to hire a stellar contractor for far less cost.  In short, a recession economy is a fantastic time to refurbish your home, if you’ve got the scratch.

In terms of deciding which upgrades will show the best return on investment, you’ll probably want to ask your contractor for advice on specific plans.  However, tried and true money-makers include renovations in the kitchen and bathrooms.  But don’t go hog wild and make your house look like a page from Better Homes and Gardens.  Show a little restraint and take into account where you live, the style of your house, and the probability of making back the money you’re spending.  That said, you may end up replacing everything (rather than simply refurbishing), so instead of buying brand new, consider going green.  All kinds of household items, from cabinets and flooring to fixtures and appliances, can be found recycled or reclaimed.  You can outfit your spaces with practically new (and sometimes surplus) items for a fraction of the cost.  And you can feel good knowing that you kept something totally useable from going to the landfill.

You should also take advantage of rebates and government incentives.  Seeking items that are energy efficient or use less water will not only save you on your utility bills, it will often come with an immediate way to cut the initial cost through mail-in rebates that get you cash back from the Department of Water and Power, as well as a later deduction on your taxes.  You can’t beat that with an environmentally friendly stick!

In terms of paint and flooring, they will certainly improve the appearance of your house (and the likelihood of a sale), but you shouldn’t count on any kind of return.  Cosmetic upgrades are something that every new homeowner expects to do (and they’re sure to have their own preferences) so keep your palette neutral and spend as little as possible in this area.  Using your budget wisely and keeping costs down is easy if you make a plan, shop around for the best prices, and keep in mind that in a recession, you can pretty much set the price you will pay for products and services.

Jennifer Kardish is a communications coordinator at Cheap Kitchen Cabinets. You can check out their free design tips for your kitchen and home.

Tagged with: Budgeting Tips • personal budget planning • Personal Budgeting • Web Page Finance

Filed under: Budgeting Tips

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