Home improvement projects can be a fun and rewarding way to add value to your property. However, making smart decisions with your money regarding these tasks is important.
Cosmetic repairs, like painting and installing hardwood floors, generate the biggest return on investment. Avoid costly structural repairs, such as updating electrical or installing better roof support.
Shop Online
Whether planning a minor bathroom remodel, a kitchen upgrade or a complete room renovation, there are plenty of ways to save money online shopping. Coupon codes can help you save on appliances, paint, tools and more at major home improvement stores like Lowe’s or Home Depot. If you’re unhappy with an item, returning it is hassle-free and often free. Sign up for a free account with a store, and you’ll receive a prepaid shipping label to return items without paying a dime. Many products also come with rebates worth up to $3000, which can add up quickly.
Watch for clearance and seasonal sales, including Black Friday and after-Christmas discounts. A home depot’s Deals of the Day and Pro Deals of the Week offer savings on tools, lawn care, patio furniture and more.
Look for Coupon Codes
You can find a lot of coupons online that offer significant discounts on your home improvement needs. Check them regularly and ensure you’re typing or copying them correctly. Some codes are case-sensitive, while others might require a specific email address. Some sites even provide filters that allow you to quickly see which codes, like the Walmart promo code, are working, which have already expired, and offer free shipping or other benefits.
Another way to save is by reducing the scope of your renovation. Instead of tearing down walls or putting in new flooring, for example, consider making cosmetic changes to your existing space. This can help keep your costs down and still give you the house of your dreams without blowing up your budget.
Many homeowners also set up savings accounts for home repair and renovation costs. These can be a great way to save, especially when you can split up the total cost of the project and deposit money regularly over time. It can also help to use windfalls like tax refunds or monetary gifts toward your home improvements.
When it comes to saving for your upcoming renovation, planning and timelines are key. Get accurate, realistic estimates for your renovation and be sure to include any material or labor costs you may not have considered. If you’re tackling a major project, talk to contractors and shop around for pricing on the materials you’ll need to do the job.
Look for Rebates
You can often find great deals on home improvement products in the form of rebates. Many manufacturers offer special discounts on certain items or even freebies like gift cards. Keep an eye out for showroom or scratch and dent models that might be discounted due to slight damage to the product. These products are as good as new ones but can save you money.
Another way to save on your renovation costs is to use credit card rewards programs that pay cash back for making purchases related to your project. It’s important to remember that when using a credit card, you’ll have to make sure you can pay off the balance promptly to avoid interest charges.
Consider breaking it up into several smaller projects if planning a major renovation that will take weeks or months. This allows you to focus on one task at a time while still keeping the project moving. It can also help you secure better discounts on materials because you’re buying them in small increments over a longer period.
Rebates can be a great selling point for builders in attracting buyers to their homes, especially regarding energy-efficient upgrades. For example, the Energy Efficient Home Renovation Act of 2023 pledges up to $14,000 in rebates for low and middle-income families upgrading their homes with energy-efficient windows and doors, reinsulating or replacing their heating and cooling systems or installing a solar power system.
Look for Sales
Home improvement projects are a big undertaking for most homeowners and often cost a fortune. Many of the products required for these projects, like hinges, different plumbings, tiles and gardening materials(for internal home improvement), are available online in bulk at a cheaper rate than offline stores. This is mainly because the online market has a lot of competition and wants to retain its customers. Hence, they offer coupons, festival discounts, or a general low-priced rate for products that are sold regularly.
However, before spending all of your cash on those new appliances and home additions, it’s important to know what kind of things buyers want in a house before investing in big renovations that aren’t guaranteed to pay off on the closing day. Talk to your real estate agent or appraiser to find out the best ways to spend money on improvements with a big return on investment. In most cases, you should avoid purely personal upgrades that won’t appeal to most potential buyers.
