Smart ways to save on your home remodeling projects
By Thumbtack Staff•Last updated Aug 3, 2021
Last updated Aug 3, 2021
Improving your home is not only a rewarding experience — it can also be a great investment. But to get the best return on that investment, you need to find ways to save time and money on your projects without sacrificing quality.
Whether you’re working with a small budget or want to get more bang for your buck, here are a few tips on how to lower costs while renovating or remodeling your home.
How to save money on labor
During a renovation or remodeling project, labor costs — meaning the cost of hiring contractors and subcontractors — can have a big impact on your overall price. Use these ideas to save money when hiring a contractor and still get great results.
Don’t settle for the first estimate
Although the first estimate you receive from a contractor may look appealing, it’s best to vet a few other options before you commit. For example, if a contractor’s price seems high for their skill level, do more research. Message or call several other pros to compare rates. You may find a qualified professional who charges a fair but lower rate than the first pro you contacted.
Also, remember that some estimates may be higher if you need design-build services, your project is complex, or additional repairs are needed before work can begin.
Ask about deals, discounts and promotions
It never hurts to ask about discounts. When you meet with a contractor, ask whether they offer deals to first-time customers. Or see whether they offer discounted rates to customers who sign up for a package. For example, if the contractor also offers maintenance services, ask whether you can get a discount on future maintenance and repairs by signing up for a package deal. You might be surprised by the discounts, deals and promotions available to you.
Conduct cost research
Negotiating is easier when you know the fair price for your project. If possible, talk to friends, family and homeowners who’ve completed similar projects in your area to see how much they paid. You can also go online and read cost guides that explain the factors that can affect prices for different projects.
The more research you do before you start talking to contractors, the more confident you’ll feel when negotiating.
Tackle your project during the off-season
In the slow season, when demand is low, contractors in your area may have a harder time finding customers. As a result, they may lower their prices to attract more business. If it’s feasible, start your home project in the off-season to save money.
But when exactly is the off-season for your home project? It depends on the project. For example, summer is a popular time to get air conditioning serviced or replaced. You may be able to save money if you plan ahead and schedule HVAC service in the spring.
Read customer reviews to avoid costly mistakes
Nothing may be more expensive — or frustrating — than redoing parts of your home project or starting over. That’s why you should read customer reviews before you hire a contractor, designer or any other type of pro.
Reviews offer insight into a pro’s track record. For any pro you’re considering, look for reviews that say customers needed work redone, either by another contractor or by the same one. If a professional has a history of problematic projects, it may be best to keep looking.
Pro tip: Also find out whether the pro is licensed, bonded and insured. Read this guide on how to hire a contractor for more advice.
How to save money on materials, appliances and furnishings
Every home project requires materials, and materials often make up the bulk of the total cost. Saving even a few hundred or thousand dollars on materials can make a big difference. Here are tips for saving money on building materials.
Sell anything you plan to replace
Take stock of items in your home that you don’t need or plan to replace during your remodeling project. For example, you may be sick of looking at an old couch, but it could be the perfect solution for a college student. The same goes for appliance upgrades. Your old refrigerator may be an eyesore next to your new backsplash, but it might fit someone else’s style perfectly.
Sell the items you don’t need and put the extra cash toward the new materials, furnishings and appliances you want to buy.
Take advantage of sales throughout the year
Waiting for a sale — seasonal or otherwise — may mean delaying your project. But the upside is that you could save a lot, especially on a new TV, grill, appliances, outdoor furniture and more.
Pay attention to online and in-store sales throughout the year, including Memorial Day, Fourth of July, Labor Day, Black Friday and Cyber Monday.
Consider refacing cabinets instead of replacing them
Ironically, the most impactful part of bathroom and kitchen cabinets may be their least expensive feature: the doors and hardware. Giving your existing cabinets a fresh face typically takes less labor, time and money than replacing them entirely.
Refacing your cabinets can help them match the backsplash, and the finished result can completely transform your kitchen or bathroom. You can even get push-in hardware for lower and upper cabinets without going over budget.
Ask about material discounts
Whether you’re tackling a project on your own or working with a contractor, ask about discounts on building materials. A supplier may offer discounts to builders — usually contractors, but sometimes homeowners acting as the general contractor — if they meet a minimum order or buy a large volume of materials.
Your contractor or designer may also have connections that can help you source more affordable — but still high-quality — materials.
Strike a balance between budget-friendly and high-end materials and furnishings
You have many options when it comes to materials, appliances and finishes. High-end appliances, flooring, tile and fixtures can send a project’s price through the roof. The key to saving money is finding the right balance between form and function. For example, consider these scenarios:
- Kitchen remodel: If you choose a budget-friendly fridge, you may be able to spend more on a nice quartz or marble countertop.
- Bathroom remodel: A less expensive tile, showerhead or medicine cabinet can save you money.
- Flooring: While thick hardwoods may have a certain panache, the final result might not be much better than engineered — or even laminate — floors that look and feel just as good. Depending on who will be running around on your floors, carpet may be a more economical choice for common areas.
Be open to living room, kitchen and bathroom design ideas that use less expensive materials. If you keep your home improvement ideas modest, your renovation budget can shrink — and the final result can still have a big visual impact.
Budgeting tips for every homeowner
Whether you want to remodel a room, replace outdated appliances or boost your curb appeal, some general financial principles apply. Keep these tips in mind to protect your personal finances during your next home project.
Make a budget and stick to it
Every home improvement project has specific objectives and goals. Create a budget that accounts for those goals, and make sure you have enough money to complete each milestone. It can be tempting to add small upgrades along the way, but when you account for both materials and labor, those small additions can come with big price tags.
Use a spreadsheet, pen and paper or another tool to track your spending. And if you can get a spouse, family member or friend to help keep you on budget, that’s even better.
Cut back on spending and increase your savings
If you don’t have enough money saved to take on your project, don’t lose hope. You may need to set aside some of your expendable income for a short period of time to save enough for a home project.
Take a look at your spending habits and adjust your project timeline or budget as needed. For example, you may need to lower your budget for that new marble countertop you’ve been wanting and settle for concrete or laminate counters instead. Or you may choose to postpone the project, eat more meals at home and use the extra cash for that marble countertop.
The bottom line: do what you need to do to protect your finances and build up your savings when remodeling your home.
Start getting price estimates from contractors today
Now that you’re armed with money-saving strategies, it’s time to get an idea of how much your project will cost.
Use Thumbtack to search for home remodeling pros near you. Give them plenty of details about your project — what materials you want, how big the room is, and more — and ask for a free price estimate.
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