Home remodeling is fun and exciting, but determining the costs can be stressful. When budget is tight, we may be forced to settle with cheap materials and fixtures, which can result in an unappealing space. On the other hand, if we splurge on everything, we may realize that a high price tag doesn’t necessarily mean superb quality and functionality.
Hence, aside from having a sufficient budget, we must also know where to save and where to splurge as we decide on our home’s new look. If you know where to shop, you’ll find lots of high-quality and beautiful items for less. But certain features in a home look better when you spend a little extra, so it would be wise to set aside a bigger budget for those as well.
Now, let’s run through the things we should save vs. spend on in a home remodeling project.
Save: Flooring
Hardwood flooring may look beautiful, but in terms of durability, cheaper types may be winning. Take laminate, for example — despite its low price tag, it is known for its superior durability and longevity. It can also mimic the look of wood really well, so if you’re really set on having wood floors, going for laminate can suffice.
Other great inexpensive options are luxury vinyl planks, peel-and-stick vinyl, bamboo or cork, and carpet. Consider checking all of those out instead of just looking into pricey varieties.
Splurge: Bathroom Fixtures
Functionality should be your top priority when hunting for new bathroom fixtures. Though you can save on flooring, the rest are better off being on the higher price range. The cabinets, for example, require excellent workmanship, considering the amount of wear they’d normally be subject to. The same can be said for countertops, so you can’t skimp on those two.
And of course, the toilet, shower, tub, faucets, and sinks are going to endure a lot of use as well, so splurging for those are a safer bet than saving.
Save: Furniture
It can be tempting to buy that beautiful sofa you saw in a luxurious store, but don’t whip out your credit card just yet. Take note of its manufacturer, piece name, material, color, and model number first. Doing this enables you to find other closely similar items for a better price.
Buying straight from a manufacturer also lets you save more, because you’ll be paying for wholesale prices rather than retail prices. You can also ask a well-known brand if they’ll hold a warehouse sale soon; the price of the furniture that caught your eye may be discounted if you just wait a little longer.
Splurge: Landscaping
Adding a lovely garden in your home lets you relax in a refreshing outdoor space. To maximize the use of the area, add outdoor furniture, lighting, and a fire pit. Invest in excellent hardscaping services as well, because it will create more amenities in the space, like a lounging area, a grand driveway, and a beautiful patio with a pond, to name a few.
Splurge: Insulation
Insulation is an essential feature for every home, as it lets you save on heating and cooling costs. Though there are affordable types of home insulation, installing them can be time-consuming and difficult, so investing in the services of a pro may be necessary.
Loose-fill fiberglass, for example, is a good choice because 60% of its contents are recycled. Its thickness also is ideal for cold weathers. But unless you’re an expert DIY-er, professional installation is more recommended for it.
By following these tips on budgeting for a home remodel, you can decide on new furnishings and fixtures easier, assured that your money will be well spent.
