It is easy to believe that purchasing a new home is cheaper than remodeling your current home, but before you start hunting for a new home, make sure that is really the most affordable and money saving option for you. The truth is remodeling does not have to be as expensive as or more so than buying a new home. There are plenty of ways to successfully remodel your home without cleaning out your savings account. Here are a few reasons why you should choose to remodel and how you can save money doing so.
Where your money should go
Before you get carried away with all the magnificent upgrades you can do to your home, think about the upgrades that are the most worthwhile. This Old House recommends that homeowners increase the efficiency of their home instead of the size. It is common to think that more space means more value, but if the space is not necessarily needed there are other upgrades that will increase efficiency and raise the value even more than extra space such as pull out drawers and lazy Susans in the kitchen. Efficiency upgrades most likely cost less than adding space to a home. Determine which upgrades will increase the home’s value the most as well as increase your quality of living and that is where you should invest your money.
Extra upgrades that save money
There are several upgrades that might be costly up front, but will save you money in the long run that should definitely be considered. Increasing natural light is a great way to save on electricity bills because you will not need electric lights as often, but before you pay the big bucks to add more windows, save money by installing light tubes in hallways that slip between the roof rafters and allow sun to shine into the home. Light tubes are a lot less expensive than adding more windows. Energy efficient appliances are also an upgrade that is well worth the cost. The money saved on utility bills thanks to energy efficient appliances definitely makes up for their cost. Often times the more costly certain upgrades are up front means that they will save you more in the long run.
Secrets that pay off
The easiest way to save money on a remodel is by visiting the recycling center and purchasing used fixtures and materials for much less than new items. People are quick to judge when it comes to salvaged materials, but if you are looking to save money this is one way to get more bang for your buck. There are special places such as Habitat for Humanity that offer materials for half the cost of new ones and they work all the same. Also consider donating your old fixtures, appliances and materials. Donating is a great tax deduction, which is yet another way to save money on a remodel. Remodeling can definitely be done on a tight budget.
Interior decorating and remodeling news brought to you by baseboardradiatorcover.com
Source: thisoldhouse.com/toh/article/0,,1186851-2,00.html
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