How to Save Money on Your Next Big Renovation Project

If you are gearing up for a major renovation, then you are probably thinking of ways to cut costs. One thing about big renovations is that they tend to be expensive, but there’s also more space for negotiation in most cases. There are also extras included in quotes that don’t necessarily need to be there. This is why you need to be very savvy about the type of renovation you want to undertake, even if you’re not the one doing the job. Let’s take a look at some of the ways that you could save money on your next major renovation project.

Arrange the Garbage Disposal Yourself

One of the things you should pay very special attention to when looking at a quote is how much you’re going to pay for garbage disposal or recycling. In most cases, companies will charge you a premium for this service and nothing is forcing you to pay that if you can arrange for it yourself. There are plenty of services like Waste Connections that you can hire for a dumpster rental. Not only will they rent the dumpster to you for the whole duration of the project and allow you to put all your waste in it, but they will pick it up and allow you to decide how the material should be disposed of. You can decide to have it recycled or thrown away and, they offer 10-, 20-, and 30-feet containers. With all these options, you should be able to find something that will be big enough for your project.

Use Recycled Material

Speaking of recycling, you should look at whether you can find recycled or reclaimed materials for your project. You can save a lot of money by going for reclaimed wood beams, for instance. There is no need for brand new wooden beams if no one is going to see them, so try to look for second-hand materials for anything that won’t be immediately visible – as long as it doesn’t affect the quality of the final job.

Shop Around

You cannot go with the first contractor you come across, even if they have been recommended to you. You need to get quotes from at least three contractors before you make a decision. Don’t just go with the one that offers the best quote, however. You still have to review the quote and see if there are clauses that could allow them to raise the price later on.

One of the things you should ask them is if there will be an escalation clause if you decide to hire them for the contract. Escalation clauses allow contractors to spend more on certain things at their discretion. They might decide to use different fixtures for a project, for instance, or use a more expensive material. The thing is that they could also charge you a premium on these materials, so you have to be very careful with these clauses.

There are some cases where you’ll have no choice but to allow for escalation or “changed circumstances” to drive up the price. This means that you will have to know exactly which materials might be susceptible to fluctuation, what price guide will be referenced to measure price changes, and how many times the clause can be triggered throughout the project. You also want to get information on how you will be notified of these changes and when.

Choose Cheaper Materials

You might also want to study different materials and see if you can save by going for cheaper alternatives. If the project includes installing marble or granite countertops, for instance, try to see if you can use veneer instead. The same goes for materials like bricks and stone.

One area where you could save a lot of money is flooring. If you are trying to build a secondary room in an attic, for instance, or want to finish your basement, then you might want to think twice about using hardwood floors. There are so many different affordable options out there that will get you roughly the same results but for a fraction of the price.

Laminate flooring looks much better than it used to and can make a fine replacement. It is much more moisture-resistant, which makes it a much better option for a basement. Another option you could check out is LVT tiles or planks as they’re commonly called. LVT is a new type of vinyl tile comprised of a base made of vinyl with a print on top and a transparent layer. LVT can replicate natural materials like no other synthetic material for a fraction of the price, and the resemblance with hardwood can be uncanny. For these reasons, we strongly suggest you check it out.

As you can see, there are tons of different ways that you can reduce your costs on renovations. All you have to do is use some of your imagination by becoming savvy in renovation materials and contractor rates.