It doesn’t matter what the economics are, everyone wants to save money, especially on big ticket items like a home renovation. Cost and affordability may even be why many people delay on a renovation, believing they need to wait and see what happens in the coming years or that it is just too far out of reach and they will need to make do. There are a number of ways to save on your home renovation and Gerard Construction has the building and banking background to understand how to help.

• Make a plan. The earlier in the process you can make a plan for the renovation and stick to it, the closer to staying on budget or even cutting costs you will be. We sometimes see homeowners delaying decisions which can lead to an increase in costs, especially when shipping delays and contracting outside work is involved. Additionally, by making a plan for your entire renovation from the beginning, you can decide which items or changes are highest priority and which decisions you can allocate to save money on.
• Save ahead of time. If you have the ability to save money for your renovation ahead of time, this is a great way to cut costs. When you finance, even under great terms, you still have an increase in the overall price of your renovation with interest and other fees. If you can plan ahead and save for a few years, you can streamline the process while saving money for the actual renovation rather than paying the bank.
• DIY… sort of. There are many renovations you should leave to our professional team at Gerard Construction. In fact, many do it yourself projects can turn costly if homeowners make big mistakes that our team needs to go in and repair before finishing the renovation. There are a few things we encourage homeowners to do themselves that can lead to a sense of satisfaction in taking care of their home and save a little money in the long run.
• Work with us. It may seem possible to hire out the job in pieces to different people, especially in a social media saturated world where everyone has a recommendation for every type of painter, electrician, handyman, and more. Unless you only need one of these things done, you will want to work with a contractor to coordinate the entire project, to secure permits, to stay on schedule, and to see the full scope and details you may not have thought of. A renovation, especially one larger in size, comes with hundreds of little steps that add up. Additionally, our contractors give us competitive pricing because they know the work we do and want to continue working with us in the future.
• Prioritize. Maybe you need to do your renovation in batches. Consider what is most important to you and what is, on average, the more costly portions of renovations. You may be able to see a correlation between some less expensive renovations that will change your home for the better. Better Homes and Gardens cites a kitchen renovation being a very expensive single room renovation, sitting at an average of $26,243. 
• Think of the long term. Some renovation projects may save you money in the long run which can help with your overall budget. Energy efficient appliances, windows, and insulation can bring down your electric bill. Renovating rooms to create bedroom space can eliminate the cost of an expensive move as your family expands. Creating an entertaining oasis may reallocate part of your travel budget. These may not work for every family, but thinking of what you can gain from a renovation is important as you look at your financial planning.

To begin looking at your renovation plan and to begin targeting a specific budget, contact our team at Gerard Construction today. We can help you think of the details you didn’t consider and we can show you options that will help you stay within your goal while also building the home of your dreams.