It’s been three years since we purchased our very first home and since then we haven’t stopped making improvements inside and out. It can be costly to work on your home, whether you’re decorating, replacing furniture or tackling bigger jobs like extending, however it’s well worth the investment to get yourself the home of your dreams.
With three years of home improvement experience under our belts, we have figured out tons of tips and tricks to save money when undertaking renovation work, so in this blog post we’ll share five of the easiest ways that we are so excited to share with you!
Why undertake home improvements in the first place?
There are so many reasons as to why you’d want to undertake home improvements, including:
- Increasing the value of your home
- Making your house more ‘homey’
- Wanting to add more colour to your home
- Improving the energy efficiency of the house
- Add more space to the home
Of course there are many more reasons why you’d want to complete home renovations, but the important thing is – how can you do them without spending more than you can afford. Let’s take a look.
Easy ways to save money on home improvements
Let’s look at five ways you can save money on home improvements meaning more money in your pocket and less chance of falling into debt:
Create a budget and stick to it!
I am all about budgeting and have been using a spreadsheet to track income and outgoings since Neil and I first moved in together a decade ago. When it comes to planning home renovations, it’s so important to plan a budget and stick to it as much as possible. Of course you’ll need to be realistic, but it can be super easy to get carried away with getting everything absolutely perfect that you end up going thousands over budget.
Use a spreadsheet to outline all the proposed costs in one column and all of the estimated costs in another. Track all your spending within the spreadsheet and if you find you’re nearing the end of the proposed budget, figure out if there are any other areas in which you can save money. Can you replace that carpet with a budget-friendly alternative? Perhaps you can try and source cheaper patio flags so you have more to spend on the artificial grass. Whatever you decide to do, the budget spreadsheet should help keep you grounded when costs start spiralling out of control.
Save the required funds and avoid loans
One of the most costly ways to fund your home improvements is by taking out a loan. Loans come with mega high interest rates that could see you paying 1.5-2x what you could have paid if you’d saved the money beforehand.
Although it may be tempting to get your home improvements NOW instead of waiting a few months, consider the added cost of interest and save a little each month so you can pay upfront. Not only will you save money, but you’ll feel like you’ve really achieved something!
Use a cashback credit card for large purchases
Although I am not a fan of loans, I think that carefully using a credit card for large purchases is a good idea. Firstly, you have added protection when using a credit card in case anything goes wrong with your purchase and secondly, if you have a cashback credit card, you can earn a few pennies from using it to make big purchases.
Many cashback credit cards offer 1% cashback on purchases, which may not seem that much when you’re spending hundreds, but when it comes to spending thousands, it really does add up.
Shop around and ask friends/family for recommendations
When it comes to buying new kitchen appliances, finding a builder to complete an extension or getting hold of a landscaper who won’t let you down, you’ll need to shop around for the best quotes and prices as well as asking around to find someone you can trust.
Local Facebook groups are a great place to get tradespeople recommendations and friends and family are a great source of information on the very best products and services. You can’t beat word of mouth when it comes to finding help for your home renovation so ask around and save yourself a fortune.
Enlist help from friends for smaller projects
Although you’ll need help from specific tradespeople if you’ve got a huge project such as a loft conversion or an extension, you can save yourself a ton of money by getting friends and family to help you with the smaller jobs. Rooms need a lick of paint? We’re sure you’ve mates who can help with that in return for a few cans of lager and a takeaway pizza.
We hope this post has given you some much needed inspiration for saving money when completing home improvements and we wish you the very best of luck with your projects – big or small!