Are you ready for a fabulous home improvement, but not quite ready for the cost of one? In this infographic presented by eloan, you’ll learn five ways to afford your dream remodel. The infographic goes over tips on spending smart on home improvement and extracting the greatest return on your investment.
Tip 1 – Pay Yourself First
Home improvements will bolster the resale value of your home, this means that most remodeling expenses aren’t simply sunk costs. The popular home remodels recoup 50% – 70% of their projects cost, so don’t forget to factor in the equity.
% of Recouped Project Costs
- Attic Bedroom – 73%
- Minor Kitchen Remodel – 72%
- Wood Deck Addition – 70%
- Basement Remodel – 67%
- Two-Story Addition – 66%
- Bathroom Remodel – 62%
- Family Room Addition – 60%
- Master Suite Addition – 59%
Tip 2 – Cut Out the Middle Man
By finding great deals on materials and supplies you can easily pick up yourself, you may be able to avoid paying any sort of markup there may be on having them find materials.
Here are some great places to look for materials;
- Federal government and seized surplus property auctions
- State and local surplus property auctions
- 825 habitat for humanity restores in US & Canada
- Contractor surplus resale
- Direct to consumer wholesale clubs
Tip 3 – Mark Your Calendar
Be sure to plan your remodel early so that you can take advantage of any sales that come along before the project gets started. Great sale days are Black Friday and Memorial day. If possible time your project to align with the best seasonal markdowns that line up with what you need.
Did you know, certain times of the year have better sales than others;
- Carpets and flooring – October, November, December
- Furniture – January, July
- Appliances – September, October
- Hardware – June, Nov, Dec
Tip 4 – Save with Sustainability
Wherever possible you should try to incorporate more environmentally friendly alternatives. Often if not lower in cost up front, these alternatives will end up costing you less in the future.
Consider a Green Alternative – Save Money and be Responsible
Compare the cost of different types of paint;
- Traditional – $25
- Low-Emitting – $22
- Recycled – $10
Tip 5 – Get off Your Keister
If there are any simple project you can do yourself, do them! Even without training there are some tasks that even a beginner can perform.
OK to Try Doing Yourself
- Light Demolition (Read up on it first. If you don’t feel comfortable doing it, don’t!)
Leave it to the Pros
- Window Installation