Home Improvement How-to

Home and Living : How to Save Money on Home Construction or Renovation

Home construction projects can be very expensive – especially if you don’t plan yours quite well. If you’ve been wanting to have a home renovation soon – or if you’re getting your brand new home constructed, here are some tips that can help you save.

Tips in Saving on Home Construction

Never go with the first contractor you come across with

Be the wise ‘shopper’. Get quotations from tons of contractors so you’d know the fair price for the construction project you want to get done. Never go with the first estimate. Most people say you should get at least three estimates but I say it’s best to get five – more is even better. You may be all excited in starting your project but don’t let that excitement tempt you into spending more.

Save some stuff to DIY

If you do some things by yourself, you can probably save a lot. It doesn’t matter whether you’re a do-it-yourselfer or not, there are some things on the list that you can do on your own if you have the time, the skills, and the patience. Saving money can be a very good motivator. Remember, contractors make an average of $25 per hour and for every hour you work, you’ll be saving that. However, make sure you can really do what you plan on DIY-ing. If you experiment and you go wrong, you might end up paying more to have a contractor fix your mistakes.

Find some of your own supplies and materials

If you’re good at haggling and you have contacts (or you can find some), it’s best if you source some of the construction materials yourself and not totally rely the purchases on your contractor. You can probably find cheaper options for some fixtures, cabinets, counter tops, door knobs, and other stuff at home improvement stores and depots. You can buy during sale events or you can simply arrange for a discount if you’re going to buy in bulk.

Plan Everything to Avoid Delays

Delays would equate to additional costs so by all means, plan everything (and have a backup plan) so you can avoid them. Stay on top of your construction schedule. Make sure all the materials are ready and are on site when the contractor needs them. If only a portion of your house needs reconstruction, make sure you clear the furniture beforehand. If you’re going to have to vacate your home because of your construction project, rent or book a hotel room in advance.

Start Building During the Off Season

Off season means lower contract prices. If you do the construction during the off season, you’d probably save as much as 5%. Generally, the construction business is quite slow just right after Christmas.

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Ellen is a blogger, a web content writer, a researcher, a stalker, an entrepreneur wanna-be, a resourceful moneymaker, a big fan of Supernatural TV shows, a household queen, and a mom of four.