HUD Articles

Ways to Save on Home Renovations

1. Take on one manageable project at a time.

When you look around at the outdated countertops, stained carpets or mismatched fixtures in your home, it can feel like an overwhelming swirl of things to do. But instead of maxing out credit cards on a huge reno—and instead of sitting around feeling discontent—put a little in the budget each month and knock out projects one piece at a time. Watch for sales along the way. You can have an impressive before-and-after photo to share on social media. It just might take you a little longer to get from start to finish. But when you’re done, you can have all the ta-da! without any of the debt.

2. Save up for bigger renovations.

If you’re dreaming of a huge remodel, you can cash flow it. Seriously. It takes budgeting, saving and waiting—but you can take responsible steps toward making your dream home remodel a reality. Start by pinpointing the project, researching the cost, and then setting up a sinking fund in your EveryDollar budget. Be sure you’re making a proper investment by renovating things that will create a better living environment, while also increasing your home’s worth. In other words, put your money where the payoff happens both now and later.

3. DIY the home repair when you can.

It’s pretty fantastic what you can learn to do on YouTube these days. Contour your makeup until you look like a completely different person. Learn self-defense moves that rival Chuck Norris’. And watch step-by-step guides to basic home repair. That last one can come in quite handy when you’re needing to fix a simple leak in your toilet but don’t want to pay an hourly rate for what might be a five-minute job.  

4. Barter for repairs.

For those assignments that need an expert, do you know someone who’d be interested in trading skills? You could offer to design their website, photograph their family, or help them file their taxes. Go old school and barter your expertise for theirs.