How to Save Money While Renovating Your Home

Giving your home a fresh new look may seem like an expensive endeavour, but there are
several ways to reduce costs. With smart shopping and preparation, you can give your home
the makeover it deserves. Our friends at Zoocasa give 8 tips to achieve cost-effective home renovations:

Set Realistic Goals

First, identify the areas of your home that need to be renovated and make an itemized list of the
major and minor tasks needed to complete the renovations. This will help you avoid
unnecessary additional costs. It’s also helpful to keep track of your spending throughout the
process that way you can better stick to your budget and shift resources if needed.

Shop Secondhand Stores

Discount, secondhand, or even online stores often have affordable materials of good quality.
See if there are any local yard sales happening in your area or antique markets. Look out for
used materials that can be refurbished, repainted or upcycled to look brand new. Little fixes like
scratches, dents and rips can easily be restored so don’t be deterred from choosing less-than-
perfect materials.

Limit Structural Changes

Structural changes can be expensive, time-consuming, and unpredictable. Stick to cosmetic
changes that have a big impact to create a new look for your home. Try drawing attention to
walls or windows with a paint trim or add a statement wall using a vibrant or dark colour.

DIY When Possible

Do you know how to sand or paint wooden floors? What about installing tiles and painting walls?
Assess your abilities or even challenge yourself to learn a new skill in home improvement to
save significant money on labour costs. It might not to be as difficult as it seems.

Rent Tools

Did you know you can rent tools from hardware stores or online shops? Instead of buying tools
that you may not use again, renting tools will give you wider access to a range of high-quality
tools and can save you money in the long term.

Follow a Minimalist Approach

Using the design philosophy of “less is more” can help you avoid over-purchasing and
overdecorating. Focus on quality over quantity and use simple designs instead of ornate
decorations that tend to be more costly. The end result will give your home a stylish, timeless
look.

Consider Energy-Efficient Upgrades

Increase your comfort and decrease your monthly utility bills by making energy-efficient
upgrades such as insulation, new windows or smart-home systems. Although the initial cost
may be high, you’ll save money down the line by reducing your monthly bills. Other less
expensive upgrades include LED lighting, smart thermostats, and smart fans.

Take Advantage of Tax Credits and Rebates

Several cities offer rebates and tax credits for improving the energy efficiency of your home
renovation. For instance, in Canada, you can apply for the Canada Mortgage and Housing
Corporation Eco Plus program. Check with your local government for any other opportunities
that can help you save money on your home renovation project.
Whether you are just renovating one room or the entire house, prioritizing upgrades, sticking to
a realistic budget, and using DIY methods can help you achieve your renovation goals in an
inexpensive way.