| The first few steps of any home improvement project | | | | hidden expenses and surprise purchases. Don't deplete |
| are about asking a few key questions. What is the | | | | these reserves unless it's absolutely necessary. |
| scope? What is the budget? Should I attempt to do | | | | Reserve funds tend to dry up fast on large renovation |
| the work myself? Determining the answers to these | | | | projects. |
| questions will save you both money and time on your | | | | Finally, save more money with low-interest financing or |
| next home improvement project. | | | | by paying for the project with cash. Cash is the |
| To learn how these three, simple questions will save | | | | simplest and cheapest way to fund any remodeling |
| you money on your home improvement project, keep | | | | projects - no lenders and no interest. |
| reading. | | | | 3. Should I do it myself? |
| 1. What is the scope? | | | | We often think we can save money on a home |
| Start by having a clear understanding of what you | | | | renovation by doing it ourselves, but our limited |
| want to do. Essentially, you need to have a plan. If you | | | | knowledge or skills can sometimes cause more |
| decide that your only goal is to make cosmetic | | | | damage than good. |
| changes, like new paint or some flooring, then great - | | | | Before you grab those tools, ask yourself if you have |
| you can budget accordingly and probably take on the | | | | sufficient understanding of the work involved to take |
| job yourself. | | | | on the project? Do you have the right tools or access |
| Meanwhile, if you want to make major structural | | | | to the right tools? Can you do the project safely? Do |
| changes, you can plan out the new layouts. Some | | | | you have enough free time to get the project done in |
| builders recommend laying out mock-ups with masking | | | | a timely manner? Are you confident that you can hit |
| tape and cardboard so you can get a feel for the new | | | | an acceptable level of quality? Are you sufficiently |
| space before you commit to it. | | | | physically fit to take on the job? Can you obtain the |
| 2. What is my budget? | | | | required permits? And, finally, is this actually something |
| This is your most important money-saving step. More | | | | you want to do? |
| than getting a great deal on tiling or saving on a | | | | If you can answer yes, to all those questions - go for it. |
| contract hire, planning out a budget and sticking to it will | | | | Otherwise, look for a contractor who comes with |
| save you the most money. | | | | personal referrals, a stable business, a strong track |
| When budgeting, always pad your figures by about 20 | | | | record and a thorough, itemized price estimate. |
| percent to account for unexpected supply costs, | | | | |