Completing Renovations During the Winter Months?
The slower winter months are the ideal time to complete renovations for some homeowners, the cold months mean there is less to do outside of the home and more people focus on fixes within. We have compiled a list to help you stay within your budget during your winter renovations.
1. Figure Out Your Main Priorities
Take your time and slowly save up if you haven’t already, it is beneficial to pay in cash so that you can avoid incurring more debt. By making a checklist of what must be done rather than what you would like to be done, you will be able to make improvements without borrowing excess money. It will make you feel good without adding more debt and having an improved living space.
2. Take a Close Look at Your Utilities
Rather than simply swapping your name onto the property’s current utility bill, be sure to shop around for a better deal. If you are able to find another utility company that can provide the same service for less money, you will have more in the long run to spend on the changes that you want made. Other than utilities, you may also be able to get a better deal on your internet, cable/satellite, or insurance provider.
3. Be Accountable
Tracking your spending and making a budget to see where your money is going is highly advised. Quite commonly, people may be spending more money monthly on things such as takeout than they realize. Create a budget and plan ahead. You may consider making a spreadsheet and planning a year ahead. You will feel great when the year is done and you have held yourself accountable.
4. When Thinking About Purchasing New
Think about what is best for you when it comes to new appliances, furniture and other large ticket items. Search online marketplaces where there are always options to buy and sell. You may have inherited a stove that you can sell, to help you afford the new one that you have been looking forward to. Or you may even be able to find the one you have been dreaming of at a discounted price. You can also check with friends, family and neighbours to see if they are getting rid of any things that you may need. There is no shame in repurposing someone else’s kitchen cabinets or using someone’s leftover construction materials. You have the opportunity to save yourself some big bucks if you are open to doing some research.
5. Remember The Important Improvements
In addition to setting aside money for your upgrades, make sure to budget for when things go wrong. The average homeowner will experience needing a new roof, furnace or maybe upgrading from your gravel driveway. Some professionals suggest setting aside 2% of your home’s value for maintenance every year.
What winter renovations are you doing this year? Do you have any tips of your own?