We live in a world where everything costs money; that is just an inescapable fact. When planning your home renovations, you might be tempted to cut corners. While saving money and being frugal is a good idea for your finances, you should never take it to the extremes that could reflect poorly on you and your home.
Less Curb Appeal
People who drive or walk past your house will make judgments about your home without even going inside. If you choose to take the easy way out with home renovations, people will be able to tell from the outside. Curb appeal matters. A good example of this idea would be if your front yard is filled with mulch instead of grass. Others who see the mulch will not applaud you for your genius yard hacks. Instead, they will think that you are someone who does not want to put the effort into taking care of their lawn. If you are trying to sell your home, people will see the outside pictures first and if it looks cheap, you are hurting your chance at making a sale now or in the future.
Decreased Home Values
Even if you bought your home for a high price and are planning on selling at the same or a better price, you will hurt your chances with cheap repairs and quick fixes. People do not want to move into a home where things are not guaranteed to last. The only way to increase the value in your home is by putting more money into it, not by covering up mistakes or sweeping them under the rug. Cheaply done repairs are difficult to cover up and your buyers and the inspectors will find the temporary fixes in your home. Ironically, by trying to save money on repairs, you could actually lose money on your home sale.
DIY Can Go Wrong
The saying goes that just because you can do something yourself, does not mean that you should. This applies to home renovations as well. Some renovation projects like those that include plumbing and electricity, should be done by a professional. If you are inexperienced with electrical work, you risk shocking and injuring yourself, and depending on the voltage, it could be life-threatening. In many cases, the instructions for DIY projects are vague and complicated, leaving you confused about what you should do. With other DIY projects, if they are not done correctly, you could damage your home and end up spending more money on repairs.
Greater Vulnerability to Weather
Weather is among the many things that you cannot control. As a result, you can also not control the outcome and damage that the weather can do to your home. This includes normal weather as well as natural disasters. For example, if you use cheap paint outside and you live in a hot and humid climate, your paint will bubble and warp in the sun. That is why you need to spend that extra money and use quality outdoor paint. If you live in a place where windstorms are common, a poorly built roof will not last. Using less expensive options will mean you have to replace your roof sooner.
Save Money Smartly
As stated earlier, there is nothing wrong with wanting to be frugal, but there is a smart way to do it. You can save money without being cheap and only doing jobs halfway. If you are looking to save some money, you can negotiate with your contractors by offering free advertisement or shop for home décor and tools at discount stores or resale shops. You can also install renovations that have a greater return on investment, like solar energy. Solar panels are a large investment up front but will help you save money over time as you become more self-reliant on electricity.
Shorter Life Spans
Cheap items and repairs do not last as long as their more expensive alternatives. If you think a deal is too good to be true, it probably is and if you take the deal, you will end up spending more than that down the road. To put this into perspective, imagine you buy a plastic kitchen spoon from a dollar store that tends to melt very easily. You can either keep buying new $1 spoons or invest in a few quality kitchen spoons that you would not have to replace every couple of weeks, saving money in the long term. This concept also applies to larger things like cheaply done roofs that can become a safety risk and need to be repaired sooner rather than later.
Get the Big Stuff Done
Chances are that your home repair list will have a large range of options and projects that you could start on. That said, the best way to save money is to use the time you must work on large and expensive projects first. This can help you accurately budget for the renovations that need to get the most funding. When you are going on the cheap path, you are more likely to just accomplish a lot of little projects that will not last as long as they should. After fixing the big problem, you will be able to know exactly how much money you have left for other projects.
Support Local Businesses
Local contractors thrive off local work, which is why you can negatively impact your local economy when you cut off the middleman. When you have the opportunity to work with and support the local business owners, you can also benefit them further by referring them to your friends. Local contractors also have the best idea of how to work with your climate.
There is nowhere else you will spend more time in other than in your home. If you ignore the cheap solutions from other companies, you will have a home that you are proud of. After you make some changes to your home, you will be one step closer to having the perfect house.
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