Owning your own home is one of life’s great pleasures. But transforming your home until it meets your vision of perfection? Well, very few feelings beat that.

Unfortunately, reality is getting in the way of many Americans’ remodeling goals. The supply chain shortages triggered by the 2020 government lockdowns are still rippling across the economy. The United States is currently struggling through a shortage of construction labor as well. And thanks to the current administration’s push to transition the country to clean energy, the costs associated with manufacturing construction materials are steadily rising. Wood, composites, insulation and other materials are expected to increase in price by 6.5% through 2024 and 2025!

You can rightly conclude two things from all that information:

  • It would be nice if you could hop in a time machine and remodel your home prior to 2020; and
  • If you don’t have a time machine, then you would be well advised to remodel your home sooner rather than later.

 

What Can You Do to Save Money on Your Next Remodel?

We’ve already ruled out the time travel solution. Barring that, what can you do to keep your budget under control during your next home remodeling project? Never fear! Your friends at Wensmann Contractors are here to share a few pro tips.

  • Budget responsibly. Create a budget for your remodel that factors in labor, materials, and lodging if the scope of your project is great enough to make your home temporarily uninhabitable. Make sure to budget an additional 10% for unexpected expenses. Such expenses are just as unpredictable as they are unavoidable.

  • Do your own demolition. If you’re hiring a contractor to remodel a room, the first thing they’re going to do is start smashing and removing things. But here’s the neat thing: smashing and removing require zero experience. They can even be fun so long as you follow proper demo safety precautions.

  • Do your own painting. We don’t mean to disparage professional house painters. Their experience does let them make impressively short work of large and complex projects. But if your remodel includes painting any number of interior walls, then you can certainly take care of that part of the project yourself. Just purchase some materials and follow a few steps and you’re golden!

  • Pick projects with high ROIs. Not all home improvement projects will increase your home’s market value equally. For example, replacing your garage or front entry door can raise your home value by more than you spend on the project. Remodeling your kitchen or bathroom may not yield a 100% ROI, but doing so will preserve more equity than if you had remodeled other, less important rooms.

  • Get clever with materials. Picking up your own materials at the store can save you a bundle on delivery fees. Rather than replacing features like cabinets and wainscoting, consider giving them a fresh coat of paint. And instead of replacing hardwood flooring, refinish it instead!

  • Pull permits. If your project includes electrical or plumbing work, determine whether you’ll need to pull permits ahead of time. The last thing you want to do upon completing a remodel is encounter a building inspector who forces you to do it all over again. (If you want to save even more money, just leave your plumbing as it already is.)

  • Shop for deals. It’s tempting to purchase all your materials at once at a single location. But if you want to get truly thrifty, you’ll have to shop around. Ask showrooms if they have floor models, opened products or lightly damaged products for sale. Ask flooring stores if they have cheaper synthetic alternatives to the natural flooring they offer. See if you can’t get two wholesalers or retailers to match one another’s prices. So long as you have buying power, you can always make the free market work toward your benefit!

  • Choose a reputable contractor. Reliability. Integrity. Commitment. Skill. Partner up with a contractor that upholds all four of these values and the rest will all fall into place.

If you’re planning a remodel in Central Minnesota, then we dare say you have already found a reputable contractor: us! We welcome you to contact Wensmann Contractors today and learn more about all the clever ways we’ll keep your budget under control and still exceed your expectations. We’ll show you that doom-and-gloom economic predictions can’t keep you from enjoying the home of your dreams!