It is a well-known fact that DIY home improvement projects will help you save money.

However, were you aware of the extent to which cutting professionals out of the equation can result in saving half the cost of a project or potentially even more?

In addition, you receive a substantial return on your investment. This implies that the monetary value obtained from a DIY project surpasses the initial input.

#1 New Steel Front Door

A new steel entry door is one of the replacement projects that offers considerable benefits. By professionally installing this door, not only can you expect to recoup around 75% of the cost, but it will also greatly enhance your home’s curb appeal. The validity of this claim is supported by the “Remodeling Impact Report,” where a significant majority of homeowners (96%) express contentment with their newly installed front door.

If you decide to handle this project on your own, you will save more money. Before starting, make sure you are familiar with the different parts of the door, such as jambs, threshold, and stops. Since you will be installing a pre-hung door with jambs, you will need to remove the previous components. If possible, try to keep the existing casing (trim) that surrounds the door. If not, be prepared to purchase new casing.

If You Hire   If You DIY  
Cost $2,000 Cost $250
Recoup at sale $1,500 Recoup at sale $1,500
% recoup 75% % recoup 600%

If it is your first time, it would be beneficial to have a friend or spouse assist you with this task. The process may take approximately six to eight hours. Always keep in mind the key principles of door installation, which are being vertically straight, horizontally even, and having right angles.

#2 New Garage Door

Are you exhausted from seeing the empty billboard every time you arrive at your driveway? Swap your old garage door for a sleek new steel version, and the entire neighborhood will express gratitude. You can also save money by retaining the same motorized opener.

If You Hire   If You DIY  
Cost $2,300 Cost $850
Recoup at sale $2,000 Recoup at sale $2,000
% recoup 87% % recoup 235%

If you think step by step, you can rephrase the given text while keeping the same meaning as follows: A steel garage door consists of four panels that are relatively lightweight yet cumbersome. Enlist a friend’s assistance, and completing this project will take only a day. Subsequently, take a step back and appreciate it, just like 95% of homeowners mentioned in the “Remodeling Impact Report” who expressed their contentment or satisfaction with their recently installed garage door.

#3 New Vinyl Windows

If you need to replace four or more windows or a window on the second floor, it is advisable to hire professionals for the job. It is not suitable for non-professionals to be on a ladder with a window as it can be risky. Professionals provide scaffolding, which may require some time to set up but ultimately ensures quicker and safer work.

If you need to replace only one, two, or perhaps three first-story windows, it can be effectively done as a DIY project. However, if there are more windows to be replaced, it is advisable to hire professionals as they will complete the task more efficiently in terms of time and inconvenience.

If You Hire   If You DIY  
Cost (per window) $556 Cost (per window) $250
Recoup at sale $444 Recoup at sale $444
% recoup 80% % recoup 178%

If you have accurately measured the rough opening and purchased the appropriate window, it should take you approximately three to four hours to complete the installation of one window. As you continue installing more windows, you will become more efficient and complete the task in less time.

#4 New Wood Flooring

New wood flooring is one of the most rewarding projects in terms of satisfaction and high investment recovery. Based on the “Remodeling Impact Report,” 96% of homeowners expressed happiness or satisfaction with their hardwood floors installed by professionals. Coupled with a 91% return on your investment, this can make you a content and delighted homeowner.

The techniques for installing hardwood flooring are fairly easy to master, making it a bit labor intensive for the DIYer. Once you get the hang of it, the installation of prefinished hardwood flooring should go smoothly.

If You Hire   If You DIY  
Cost $5,500 Cost $1,770
Recoup at sale $5,000 Recoup at sale $5,000
% recoup 91% % recoup 282%

#5 Insulation Upgrade

Although it may not be the most alluring project, having it concealed in your attic, it undeniably brings about enhanced comfort and noticeable savings on your energy expenses, which are significant advantages.

By upgrading an attic space with inadequate insulation, you can achieve energy cost savings of up to 50% annually. It will take a minimum of a few years to recoup the $2,100 investment if you hire a professional. On the other hand, if you choose to do it yourself, you would only need to spend approximately $700 on enough 10-inch-thick fiberglass batt insulation to cover a 20-foot-by-40-foot attic space. Consequently, you will be able to enjoy the savings much earlier.

In addition, this project can be inconvenient, disorganized, and require you to wear protective clothing. Nevertheless, insulating your attic is a task of minimal expertise that can be successfully accomplished by most DIYers. Just remember to avoid accidentally damaging the drywall located beneath the attic floor joists with your foot.

If You Hire   If You DIY  
Cost $2,100 Cost $700
Recoup at sale $1,600 Recoup at sale $1,600
% recoup 76% % recoup 229%

Ways to Save Money on a Home Renovation

Regardless of the size of your budget, the cost of a home renovation can easily become uncontrollable!

1. Create and Stick To a Budget

The term “budget” does not mean the same thing as being inexpensive. It is advisable to be aware of the allocated portion of your overall income or savings for any expenditure, be it a small expense like dining out or a major investment like purchasing a new stove. When undertaking home improvement projects, it is recommended to establish a specific amount of money you can afford to spend before embarking on any design decisions. This approach allows you to evaluate the cost of fixtures and materials and determine which options align with your budget and which ones do not.

When creating a budget for your project, it is recommended to include provisions for unforeseen expenses. It is suggested by some to allocate 10% of your budget as a contingency fund, although the decision ultimately rests with you.

2. Pay Cash

If you pay for your project using your own money, it will save you a significant amount of money compared to taking out a loan or putting expenses on a credit card that you cannot pay off immediately. If you plan to sell your home after renovation, it may be financially beneficial to take out a loan as long as there is a quick return on investment and the loan can be paid off promptly. However, overall, paying with cash is the recommended option. If you cannot afford it at the moment, start considering ways to reduce your household expenses in order to save money for your project.

3. Take Your Time

It is not necessarily a negative thing to wait for the money to renovate, as taking time can be advantageous for planning a renovation. Although it may be tempting to completely renovate your home if you have the funds, it can become overwhelming to make numerous well-coordinated design decisions while considering various factors. If you rush the process, it is highly probable that you will regret some of the choices made.

To ensure a systematic approach, start with one or two rooms and complete them before proceeding to other areas. It is often challenging for individuals to complete a project before moving on to the next one. Therefore, it is crucial to prioritize the most demanding task and tackle it first; otherwise, it could extend for an extended period. By committing to finish one project before initiating another, you can avoid living in a house filled with unfinished rooms. Additionally, beginning with only a few rooms is wise from a financial perspective. It allows you to handle unexpected expenses without having to pause the work, take out a loan, or compromise extensively in other spaces.

Take your time and consider every detail when planning a project, as this will ensure you don’t waste time and money later when you’re unsure of your decisions. Planning a project can be enjoyable and is essential to avoid any potential mistakes.

4. Do It Yourself

Undoubtedly, one of the most effective ways to save money during a home renovation is to think step by step. If you believe that this tip doesn’t apply to you because you lack handy skills, reconsider your thinking! While you may not be able to handle tasks such as drywall installation or tile laying, there are still preparations you can make before the crew arrives. Keep in mind that you are paying the crew per hour, regardless of their skill level. So, if you can manage tasks such as demolishing the space, cleaning up, preparing surfaces like removing mastic and skim-coating walls, and painting, then you are already ahead of the game.

If you possess moderate DIY skills and are looking to increase your expertise, now is the perfect opportunity to do so. YouTube can be a valuable resource in this endeavor. As long as you have the willingness to acquire a new skill and are willing to invest enough time to do it properly, your determination will be your greatest advantage. Even if you don’t have the necessary tools, you can still save a substantial amount of money by renting them from a local hardware store instead of hiring someone to complete the task for you. Additionally, the due-dates for rented tools can serve as excellent motivation to complete the job promptly.

If you have intentions of handling significant tasks yourself, it is important to note that there are certain tasks that should not be attempted without a license, such as electrical work or relocating utility lines. However, if you possess the necessary expertise for tasks like demolishing walls and installing load-bearing beams, it is essential to obtain a permit. By doing so, you can prevent any potential problems and ensure the safety of future occupants of your home.

Other Costs To Factor Into Your Renovation Expenses

While you are making plans for your renovation, make sure to consider other sneaky factors that could increase your budget.

If your home was built before 1950, it is important to be aware of the higher risk of requiring updates such as plumbing, electrical systems, or even wall material. The extent of these updates may only become apparent once you start removing walls, so it might be wise to allocate additional funds in your budget.

When thinking in a sequential manner, rephrase the following passage while retaining its original meaning. Do not introduce new details and avoid omitting any information. It is crucial to also take into account additional charges associated with renovation, such as expenses for obtaining building permits or acquiring approval from a homeowner’s association. Prior to commencing your project, be mindful that you may encounter restrictions and constraints that prevent you from implementing the desired modifications.

Jonathan
Author: Jonathan