Tips For A Less Expensive Home Renovation

Photo Courtesy of Tucker Construction Ltd.

No matter how you go about it these days, home renovations lean fairly hard on the seams of your wallet. It is not uncommon for people to spend $5000 on a simple bathroom renovation, or $15,000-$20,000 on a kitchen renovation. And while it may seem there is no good time to renovate your home, the truth is that any time is a good time, especially when using this list of ways to keep your home renovation under budget.

Keep it Simple

Renovation means to improve a building or structure, so improvements to your home may be as simple as a facelift. You want to plan a nice upgrade to your kitchen but don't want to pay for big bucks for custom cabinets for your space, perhaps a simple coat of paint, or sanding and refinishing of your existing cupboards is all that's needed.

You can keep it simple by sticking to the little things as well. For example once you freshen up your kitchen cupboards with fresh paint, you can add a whole new look and compliment your new finish by getting new cupboard handles. Complete the room by finishing the details of your other fixtures with new doorknobs and new lights. These are all minor details to change, and with a proper plan for colour scheme in each room it can be done for a very small budget.

Don't Change the Layout

Everyone and their mother wants an "open-concept" flow to their home these days, and there is a lot that goes into that process. There is demolishing (by far a favourite of any teenage boy), getting plumbers and/or electricians in to service your needs for the new house plan, and then complete reinstallation of drywall, cupboards and vanities, trim, paint. If you change the placement of your walls, appliances and fixtures then you have to get into hiring sub contractors to rearrange your homes interior. Keeping the same layout in your home is a good way to keep focus on the home surfaces.

Photo Courtesy of Tucker Construction Ltd.

Tax Credits

Another method for seeking a lower budget in home renovations is to seek out renovation tax credits to claim on your personal income tax statement. After the 2008 financial struggles, the Canadian Government put together a large economic action plan that included many tax kickbacks to consumers to encourage spending in different economies. Many have since been closed, but new tax credits and grants become available from time to time, it is important to check to see what's available when considering work on your home.

The Ontario Government recently introduced the Healthy Homes Renovation Tax Credit, a permanent, personal income tax refund for seniors (over age 65), or families that live with seniors. If you qualify you can claim 15% of your renovation expenses on up to $10,000, so for those that slept in math class, that's an additional $1500 you can claim come tax season. 

Of course this doesn't just apply to any work, you cannot expect money back for doing cosmetic work to your home, like new windows or siding. This applies to work that makes your home more accessible for seniors. This includes big renovations like; creating a first-floor suite for a senior, renovating a bathroom for a senior (walk-in shower, hand rails, more accessible space, comfort height toilets, and widening passage doors). This also includes smaller changes like; easy to operate door locks, light switches, and hands-free taps. 

In my opinion the best way to spend this money is to install sliding shelves in all cupboards located under counters. Whether you are a senior or not, those deep shelves under kitchen or bathroom counters always feel useless if you can't access them easily. When it comes to accessibility, this is the best money spent on a place you use often in your home.

There are other tax credits or grants in different provinces, click here to see what is available.

Purchase Your Materials

This seems like an obvious statement. Yes you do need to purchase materials in order for work to be done, but I'm saying that it can be less expensive for you to purchase your own materials and then hire a contractor to do the work for you. Now this comes with many warnings. Before you go off and purchase a whole list of items to be installed and make a grand home you have to do some preparations.

You need to plan. If you don't and go shopping with no list, you may come back with something you don't even need, i.e. a hot tub. The plan needs to be specific. You need to know what kinds of fixtures you're buying for your home renovation; will that lighting system work in the location you planned for it? Does that new bath tub fit into the old space? The question you should be asking is, are the materials I'm buying a simple swap for what's currently in my home? And the truth is that while customer service representatives in stores are helpful, they have not seen your home and you will not know for certain that what you buy will work until you try to install it.

There are many simple ways to make a home renovation less expensive here. I believe that cosmetic upgrades are an easy option for the regular home owner, but if you want to work on any of your homes structural, electrical, or plumbing I suggest you contact a contractor to discuss your vision and get a proper quote. An upcoming article will detail how you go about selecting a contractor for the work that you want to do.