Cut Your Remodeling Costs

Cut Costs Tips 6-10

6. Prioritize your wants.
Prioritizing helps you with the hard decisions when it comes to trimming a budget. Make a list to rank your priorities. Dropping the overall price is then as easy as striking a few items off the list.

7. Mind the allowances.
Remodelers often list items such as fixtures and appliances in contracts as allowances. They may calculate $300 for a ceiling fan, for instance, or $1,000 for a refrigerator. Review these numbers carefully. If you accept allowances in your bid, get a breakdown of how those numbers were derived and make sure the allowances leave enough money to purchase the items you want.

8. Do it yourself.
Reduce the price of any remodeling project by doing some work yourself. Tearing out a wall, painting, installing a backsplash or adding decorative hardware to your cabinets are all relatively simple DIY projects. The key to saving money is choosing projects that you can handle and that do not disrupt the remodeler's schedule.

9. Feel free to spend less.
Spruce up laminate countertops with a wood edge that matches your cabinets, for example. It completely changes the look and saves $3,000 or $4,000 compared with granite. The point here is that countertops are a surface feature, not a structural component. Consequently, they're easy to upgrade later when you have more money to spend. The same is true of hardware, electrical and plumbing fixtures, appliances, electronics, and some floor and wall coverings.

10. Consider alternative materials.
Nontraditional materials, such as laminate flooring that looks like tile, are often cheaper than the real thing and/or have lower maintenance costs. Ask your remodeler about alternative materials that fit your project and budget.