Let’s talk about how to cut home renovation costs. At the time of writing this post, I’ve renovated nearly 40 properties, and I wish I knew at the beginning what I know now in terms of how to cut home renovation costs.
Before I dive into home renovation cost-cutting tips though, there are four areas, IMO, you never want to cut corners with: Roofing, electrical, plumbing, & HVAC. With that being said, here are some great ways to cut your home renovation costs.
Shop at the Habitat For Humanity ReStore
You can get building supplies, appliances, used furniture, etc. and reduced prices. Their website states “The prices are great and you never know what you will find.”…and that’s kind of the problem….you never know what you will find. While the prices may be great, you may not find what you need in the quantity you need it, but I still think it’s worth checking into.
Buy Mistint Paint
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What do you think happens when someone at Lowes or Home Depot screws up a paint order for a customer? Well, they start over.
But what do you think they do with the batch of paint they messed up? Well, they don’t throw it away; they just discount it and send it off to live in the island of mistint paints (which is usually just a shelf in paint department).
The great thing is these mistints are often great colors that were just the wrong shade the original customer wanted.
Not that long ago I pick up a gallon of brown paint for $5 from the mistant rack and painted an entire bathroom at a flipper I was working on. The 5-gallon mistints are what really get me excited…$30. You can paint a 1,500 square foot house with that!
I use mistints as much as possible. A huge cost-saver.
Buy Supplies From The Dollar Tree
The Dollar Tree is a great place to pick up paint supplies & cleaning supplies and save a bundle.
Buy Used Appliances
In my experience, you can acquire good used kitchen appliances on Craigslist and save around 80% compared to buying them new. Typically, people are selling their kitchen appliances just because they’re upgrading to stainless steel or whatever, so the appliances are typically in pretty good shape.
Now, when you start getting into other appliances such as hot water heaters, furnaces, and AC units, it gets tricky because you can’t usually test out the item before you purchase, so just something to take into consideration.
Save Money On Flooring
Before you decide on flooring, you first need to figure out if you’re going to flip the property or rent it. If you’re renting, I strongly advise against carpet. Tenants will trash it, and you’ll be replacing it every few tenants (at least in my experience). If you’re selling however, I’d consider carpet. Carpet is cheap and it shows well.
If you’ve got hardwood that is beat up, rent a drum sander & an edge sander, sand down to bare wood, and throw on a fresh coat of stain and polyurethane. Your floors will look like a million bucks.
If its a rental, and you really need to put down new flooring, I’d go with peel and stick vinyl. Great thing about the peel and stick vinyl, is that not only is it super easy to install, if a tenant damages the floor, you just replace the damaged tiles.
I use peel in stick in all my rentals when new flooring needs to be put down. You can use peel and stick for a flipper too it’s just a little more pricey than carpet.
Cheap Great-Looking Backsplash
You can buy great looking plastic backsplash that will revolutionize the look of your kitchen. Here’s the backsplash I use. Now, this isn’t really a “cost-saver” per se because just painting the wall would be cheaper, but it will really catch the eye of prospective tenants or buyers, and if it means selling or renting your house sooner rather than later, then that is savings in my mind.
I recommend you you check out my post “Is It Better To Flip Or Rent Your Investment Property?”