There’s no secret that life is expensive, and there’s a good chance that you’ll take on debt at some point in your life. The average Canadian has about $22,000 of personal debt, so if you’re worried about your financial situation, you’re not alone. As summer loops upon us, so does renovation season, and if you’re planning on renovating, here are some tips to help you stay on budget.
Every year, the government offers rebates for various types of renovations. Usually these renovations are for people who are making their house more energy efficient. They change all the time, so keep searching for different programs online that will help you save on your renos.
A large portion of your renovation expenses will be bulk purchases, such as lumber, tile, drywall, paint. Be sure to look around to find the best deal before making a decision – it will make a huge difference in the end. If you buy too much, you can always take it back if you hang onto your receipt.
This is the worst kept secret out there. Stores like Habitat For Humanity accept and resell quality new and used building materials. Check back often, you’re bound to find the vanity of your dreams for way less than you would pay at a department store.
Do it yourself
Roll up those sleeves and get dirty! This is a great way to save money when renovating, as you can do the simple, yet tedious tasks that you would otherwise be paying someone else to do. Tasks such as demolition, cleanup, painting, etc. If you really want to get involved, you can find an infinite amount of How-To tutorials online, or you can pop into one of Home Depot’s free workshops.
Get multiple quotes
You probably won’t be able to do all (if any) of the work entirely yourself, so when it comes time to hiring a contractor, be sure to get multiple price quotes. Now, the lowest price may not always be the best option, so ensure that the contractor gives you a written estimate which fully outlines what his/her project entails.