Have a Tiny Budget? Here Are 5 Ways You Can Still Remodel

A cheap renovation is not an oxymoron. While some big jobs will rack up a giant price tag, it is possible to remodel on a shoestring budget. Here are five ways to keep your costs down the next time you want to update your living spaces. 

1. Know Your Budget

You won’t know what’s in or out of your budget until you sit down and make this spending plan. Find out how much cash you have to set aside for your reno.

If you’re working with an even smaller number than you realized, don’t immediately reach for an installment loan. Online installment loans direct lenders like MoneyKey recommend using these loans for unexpected emergencies when your savings fall short. 

You can visit MoneyKey to learn more about how installment loans online might fit in your budget, but a general rule of thumb to remember is this: they aren’t meant to help boost your reno budget for cosmetic upgrades. 

2. Consider DIY

If you’re handy with a tool, you may consider doing some jobs on your own. DIY projects promise the biggest return on your investment simply because you won’t have to pay anyone for their labor. You just have to pay for the materials you need to get the job done.

Just be sure to scale your work to your skills. While almost anyone might be able to paint, apply wallpaper, or install a new faucet, not everyone can tear down walls or add a second storey to your house. 

3. Join a Tool Library

Having the confidence to do a job on your own is just the first hurdle. The second is having all the equipment you need to finish it. Depending on your job, you may need a lot of tools you don’t already have in your garage.

Before you head out to the local hardware store, see if there’s a tool library in your area. It works just like a regular library, but instead of books, you’ll be able to take out equipment. 

Some libraries may charge a nominal annual fee, but this will cost considerably less than the cost of several brand new tools. 

4. Sweat the Small Stuff

When you think of renovating your home, you may envision drastic tear downs that totally transform your house. But you don’t need to level your existing home to reimagine your space. Small, inexpensive things can have a big impact on the comfort and style of your home. 

Here are some ideas that can give your space a mini makeover:

  • Updating old light fixtures with modern styles
  • Painting your walls a daring, new color
  • Installing extra kitchen storage in an unclaimed wall or corner space 
  • Giving tired hardwood flooring a facelift
  • Decluttering disorganized spaces

5. Buy Second Hand

Whether you’re shopping for fixtures and furniture or tiles and two-by-fours, don’t go brand new. You might be able to unearth some big bargains by shopping second hand. Contractors and other renovators may sell their surplus of unused goods to individuals, or they may donate it to stores like Habitat for Humanity Restores

Be Creative

Think outside the box. When it comes to remodeling on a budget, lateral thinking may help you find surprising deals. Brainstorm ideas and don’t be afraid to Google — you’ll find a lot of budget inspiration online.