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Best Ways to Save Money on Home Renovation

Best ways to save money on home renovation

Are you thinking to renovate your home? Do you want to give a new look to your old home? Do you want your bedroom to become more colorful and comforting? Have you fixed a budget for your home renovation? Home renovation is one such thing, which requires lots of money and time as well. You need proper planning and budget for your renovation work. You can renovate your home within your budget if you have planned this in advance. Renovation of home not only enhance the beauty, but also gives a new life to it. Here are some important ways to save money while doing home renovation.

  1. Make a plan: Before starting home renovation work, make a proper plan or check list of things you want to do while home renovation. Which are the areas you want to renovate? What is your overall budget for the work? Make a plan keeping these points in mind and stick to basic plan.
  2. Use your existing furniture & other stuff: If your furniture is still in good condition and you can still use it. Give a new look to your old furniture and use it. Buying a new furniture is more costly, rather modifying your existing one.
  3. Look for last minute sale: There are plenty of websites, which offer last minute sale to clear their products. You can explore these last minute sales to buy products at cheapest price.
  4. Sell your extra and unused stuff: If you have some furniture or other things, which you have not used from long time, sell all such products. It will help you to earn some money as well as you will have more space at your home.
  5. Buy good secondhand products: There are many shops and online stores which sell secondhand/used products. You can buy furniture, carpets, decorative pieces, paintings and other important things from these websites. You will pay less on such products as compared to buying a new product. This will give a totally new look within a lower budget. You can also get good conditioned material by making more efforts.
  6. Use discount cards and coupons: If you are buying any product online, you can use discount cards and coupons. There are many websites which offer special discounts on buying products for upto a certain limit. If you are buying it from market, don't hesitate to ask for discounts. Nowadays, you can get good discounts on products if you are buying in off season or from clearance sale.
  7. Don't buy all material in one go: This is not really a good idea to buy all the material at a time. Always, buy material in segments, unless or until you are getting huge discounts on bulk purchase.
  8. Get quotes from different vendors: Before starting your renovation work, if you want to hire some professionals for the work, get quotes from different vendors. Don't finalise a vendor in hurry. Getting quotes about material and labour work from different vendors will give you a fair idea about the estimated cost and time.
  9. Free delivery: Try to find out shops which charge less or no transportation and shipping fee. Look for stores and online portals, which will deliver your material without charging anything. It will help you to save money of shipping and transportation.
  10. Don't go for total makeover: This is the best way to make your renovation work cost effective. Renovating your whole area in one go might cost you a lot, whereas doing this work in priority areas will cost you lesser. If you think your living room and bathroom need a renovation and rest of the area is good to go with, then just change those areas and keep the rest same or make little changes.
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Personal Loan Interest Rates October 2021
Fullerton India14.00% - 24.00%
HDFC Bank10.25% - 17.00%
ICICI Bank10.50% - 17.50%
IndusInd Bank11.00% - 23.00%
Kotak Bank10.75%
RBL17.50% - 26.00%
Standard Chartered Bank11.00% - 12.50%
Tata Capital10.49% - 14.25%
Home Loan Interest Rates October 2021
Axis Bank6.75% - 7.20%
Bank of Baroda6.75% - 8.25%
Citibank6.65% - 7.40%
HDFC6.70% - 8.00%
ICICI Bank6.70% - 7.55%
Indiabulls Housing Finance Limited8.65%
Kotak Bank6.50% - 7.25%
LIC Housing6.66% - 7.90%
Piramal Capital & Housing Finance9.65%
PNB Housing Finance7.20% - 8.90%
Reliance Home Finance8.75% - 14.00%
State Bank of India/SBI6.70% - 6.90%
Tata Capital6.90% - 8.75%