Tips For Saving Money When Doing a Home Renovation

Three letters will be your best friends when it comes to home renovation savings: DIY. Do It Yourself. Whenever you can approach remodel, repair, or renovation in such a capacity, you'll automatically save yourself substantial resources. There are many things you can do by yourself around the house to save money; the trick is getting started.

First, take stock of what sort of things you can do for yourself, and what sort of return you'll get on your investment. Here's a great hypothetical: solar energy installation. Now many don't like solar or other renewable energy resources; that's understandable. Being new tech, these things aren't quite so effective as perhaps they are advertised to be.

You Can Install Your Own Solar Panels With Relative Ease

However, there are tax breaks available, and you can simultaneously increase home value. A well-installed solar system of 3.1 kWh will increase the value of your property between $10k and $30k, depending on which state you're in. According to CostOfSolar.com, each kWh of potential power provision increases property value $5,911.

What does one kWh cost? Well, 1 kWh is basically 10 panels that each provide about 100 Watts of power per hour. You can buy 10 panels for $1,000. You'll need long enough positive and negative cables, securing solutions, energy banks (read: proper deep-cycle batteries), and either power adaptors or inverters depending on your setup.

From there, you basically mount the panels in the best spot (Google to find which spot that is), secure the power lines, and plug into your main system. Certainly, you can save some time by working with installation agencies, but if you've got a ladder and a free weekend, you can probably get the job done yourself.

The Breakdown In Terms Of Numbers

At $3,100 for 31 panels, you can likely get the whole thing done for well under $5k. That means for a $5k investment, you add $18,324+ to your property's value. Now certainly, this may not be feasible if you don't have the capital to add a system like that; but if you've got a few grand and are looking to sell your property soon, this is a great, cheap way to increase its value while providing legitimate utility.

Also, you can save money on your energy bills going forward, expand off-grid sustainability, and likely net a tax break depending on your state. Now if you go the non-DIY route you'll still see some profit; but you'll save a few grand if you do it on your own.

Next, consider the addition of a deck to the backyard. That's another DIY project which is a little complex, but can be done pretty well without too terrible a cost. There are plenty of schematics out there, and if you've got a hammer, nails, wood, and a measuring tape, you can probably do pretty well. You may want to rent some tools as well—Home Depot will be your friend.

Other DIY-Possibilities

Redoing wallpaper, painting, taking up the carpet and installing tile, changing out light fixtures, reupholstering a room, and knocking down walls that don't act as structural supports are all measures you can additionally effect on a DIY basis in terms of remodeling. Check this link for 100 DIY projects in terms of remodeling that you can do for under a hundred bucks.

Some of these operations can be complicated, but if you've got the web, you can google the nitty-gritty details, and you may find they're not as complicated as you thought. Then again, they might be beyond you. When you're remodeling the inside of a home yourself, you always want to do your homework; no pun intended.

All that being said, if you take stock of what you have, what you know, and what you're willing to do, you may find for the cost of time and materials, you can increase property value by tens of thousands of dollars with ease.

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