How DIY renovations can pay you back with cash

Relaxing with a cold iced drink, wiping the sweat from your brow, feeling proud of your hard work being finished. The smell of fresh paint fills your nose as the sound of dollar signs compound in your head and the reality of the renovation costs reach the pit of your stomach. You silently wish there was some way for it to be cheaper. Well there is.

Setting a maximum budget and sticking to it is by far the most important part of any DIY project but how do you fall in under budget?

William Bagely, owner of ALLTRADES home improvements, says to start by doing your research.

“It is important to know your project and what the job entails,” said Bagely.

He says to make sure you plan ahead so you know what jobs you can do. It is important to know your own skills or lack thereof when taking on a project. You can save a lot of money on renovations if you are a handy person.

If you are not a handy person, there is a way around that.

For things you are not sure of you can recruit friends and family to help out.

“If you are not handy, call in favours from friends who are,” Bagely said. “A lot of renovation budgets can be eaten up quickly if you are paying labor costs for a professional. “

A great trick to get the help of a professional without paying the cost of one is to ask them for advice or help.  Most people know someone who has an expertise in a certain field. If you ask them to come over and take a look, usually they will gladly guide you through the steps for any job. Friends and family are always eager to help, especially when it doesn’t require much physical labour.

Kris Simon is a self-proclaimed DIY-er who has done many renovations and is on his second full home renovation.

“I am a pretty handy person. This is the second house I have purchased that needs many renovations. I can’t justify buying a house already finished,” said Simon. “Most of the upcharge is labour costs and I can do that myself.”

Simon says he calls on friends when he doesn’t know what to do during a project and they are usually happy to help. If they can’t help, he will turn to the internet.

“If I absolutely end up in a pinch and can’t figure something out, Google “how to videos are a wonderful thing,” said Simon.

Big box stores such as Lowes or Home Depot can be expensive, so it is a good idea to shop around. Check out small businesses or custom shops related to what you are looking for; a lot of times they are cheaper.

“I am very frugal,” said Simon. “Sometimes I will take a week looking for the best price for what I need. My solid wood mantle only cost me 60 bucks at Goudreau Saw Mill. If I had just gone to Lowes or Home Depot, their price was over $200 for fake wood.”

But big box stores are not always a bad thing. It is a good idea to watch their flyers for sales. The most exciting part is putting money back in your pocket at the end of the day. Keep all of your receipts organized and watch the stores you have shopped at. When they offer better pricing on things you have purchased, they will give you the difference back in cash. This is typically only a 30-day opportunity so keep a watchful eye on the flyers and in-store deals to receive maximum cash back.

At the end of the day the goal is to get the most bang for your buck. Keep organized, utilize your contact list and keep money in your pocket.

Happy renovating.