Are You Spending Too Much On Your Renovation?

Real estate isn't cheap, especially not in major cities like NYC. In fact, the average sales price in Manhattan was $1.9 million for condos in existing buildings in the third quarter of 2017. Instead of purchasing a whole new property to get the look you want in your home, remodeling can help you save money while still creating a perfect home for you. However, remodeling can also be incredibly expensive if you're not careful. Use these tips and tricks for your future remodeling project to save as much money as possible.

Look For Local Help

As much as possible, aim to support local businesses with your ongoing renovation project. It’s estimated that 90% of Americans shop with local businesses at least once a week and as many of 42% of them visit more frequently. Local businesses not only rely on your support to continue thriving, but you can save money by choosing them. Establishing a relationship with your local business can help you save through added discounts - smaller businesses are usually a bit more willing to be flexible on pricing. See these builders that can help you renovate your home and is budget-friendly.

If You DIY, Do It Safely

Tackling home projects yourself can be a great way to save money, especially if you already know what you're doing. You'll be able to skip on labor costs and only pay the cost for the tools and materials you need and don't already own. However, if you do choose to remodel on your own without the help of a local contractor, be careful. It's easy to get hurt while working on home projects. According to a study published in the American Journal of Emergency Medicine, more than one million Americans are injured on stairs every year.

Remodel For Future Savings

When picking out remodeling projects to tackle in your home, make sure you're considering which renovations are going to be less expensive in the long-term. Did you know that only 32% of homeowners are satisfied with their dining room’s design? It’s merely one of the popular rooms that people have remodeled. While some remodeling projects are a bit more costly upfront, they can end up paying for themselves in savings over time. For example, pay attention to how much insulation you're installing when tearing down or moving walls. On average, a well-insulated home will cost 30% less to cool than one with inferior insulation. While these might seem like unnecessary expenses upfront, paying for extra insulation now will pay for itself the longer you have it installed in your home.

Reduce, Reuse, Recycle

Finally, the easiest way to save money in your home remodel or renovation is to go green. While many people see environmental home remodeling as more expensive, it ultimately boils down to three points: reduce, reuse, and recycle. Reduce how much you're buying by making the most of what you already have. If you've got extra paint for your walls, think of other projects where you can use it. Reuse items as much as possible - instead of getting rid of old furniture, give it a makeover with a fresh coat of paint or some new stain. Finally, if you can't find ways to use materials, recycle them into something new rather than sending them to a landfill. You'll cut down on expenses for your remodel along the way, largely because you're buying fewer raw materials.

Remodeling can be incredibly expensive, but these tricks can help you save on your next big home project. With the right resources and information, you'll be able to give your home a brand new look for far less than you might expect to pay. With that in mind, it's also advisable to look for more remodeling tips online, you can find very useful information, on sites like Hardie Boys as well.

Pro Or DIY: Questions To Ask Yourself Before You Start A Remodel

Summer is one of the best times of the year for renovation and remodeling projects when you're getting ready to put your house on the market. But before you pick up that sledgehammer to start taking out those old cabinets, it might be a good idea to hit the pause button. First, ask yourself whether it's best to DIY or hire a professional for the job. Those Youtube tutorials may make your DIY project look easy, but you don’t want to ruin your home by biting off more than you can chew.

You don't need to hire a contractor for every renovation job you do, especially if the project is small. But how do you know for sure when it's best to call someone else or when to pull on your safety goggles and save some money?

Here are a few key questions to ask yourself when you're not sure if your remodel requires an experienced set of hands.

Do you have all the tools you need for your project?

One important thing to remember when you plan to DIY a project is that your main goal is to save money. You won't be saving money if you need to invest in a series of expensive tools and equipment to DIY your remodel. You may want to have a machinist tool box for your upcoming project.

That said, when you're still in the planning stages of your remodel, make sure that you're considering every material and tool you might need and the cost of that material. Do you need specialized drills or flexible graphite, which is 95% carbon? Or do you just need a good saw and some new hardware?

If you need more expensive materials or equipment, it may be in your best interest to contact a professional to do the job for you. This way, you're only paying for the contractor's services instead of paying for all of the equipment, which you might not use again.

However, if the materials you're using are inexpensive or you plan on using the equipment you're purchasing again in the future, it might not be a bad idea to DIY your project. Just be sure to do the calculations and compare them with your budget before making your final decision.

Does your remodeling project require specific skills?

Approximately 50% of the world's steel is used for buildings, and you don't necessarily need a degree in engineering to use steel in a remodel if you're going for an industrial design.

However, you might need professional assistance if you want the steel you're using to look a certain way. For instance, powder coating is a popular dry finishing process that represents 15% of the industrial finishing market. Powder coating provides both protection and decoration for steel and other metals.

The same is true for wood materials. You can stain wood cabinets yourself during a kitchen remodel. But if you're looking to paint your cabinets, it might be a good idea to have a professional do the job to avoid any mishaps that might make a potential buyer think twice. After all, 8% of consumers said they "caused damage to my home" as the result of their DIY home improvement projects. In this situation, it’s far better to find a reliable, professional home remodeler to give you the quality and expert finish you’re looking for without causing any damage. 

Do you have the energy to take on a remodeling project?

Once you've established the materials, equipment, and skills you need for the project you've decided to take on, it's important to ask yourself whether you have the energy to do it. This might sound like an odd question, but there's a reason why millennials are more likely to take on a DIY project.

Just one hour of moderate intense exercise such as martial arts can burn up to 500 calories. If you can handle the sweat, you can take on a remodeling project by yourself, with a partner, or with friends and family.

However, if you're on a time crunch for selling your home or you don't have a lot of energy to do the project yourself when you get home from work, it might be a better idea to contact a contractor.

There are many factors to consider when deciding whether to DIY a home project or to hire a professional. But ultimately, the decision comes down to your budget, your schedule, and your capabilities. Small renovations that are on the cheap can easily be done on your own, but be careful with larger and more complicated projects.