Whether it's adding a bath or remodeling the kitchen, here's how to find materials for a fraction of the price at big-box home improvement stores, hire the right contractor at the right price, and get that project done for less.
1. Consider resale value
Once a year, Remodeling Magazine publishes their Cost vs. Value report, which shows the average job cost and resale value for typical remodeling projects. Few remodeling projects offer a 100 percent return on your investment, but some projects have a higher resale value than others. For example:
- Cost for a home office remodel – $27,963
- Resale value – $11,983 (43 percent of costs recouped)
- Cost for a sunroom addition – $74,310
- Resale value – $34,133 (46 percent of costs recouped)
- Cost for a minor kitchen remodel – $19,588
- Resale value – $14,120 (72 percent of costs recouped)
Check out 5 Home Improvements That Won’t Sell Your House before you start remodeling. Unless you plan to live in your house for the rest of your life, you’ll want to recoup some of your costs when you sell one day – so choose remodeling projects with higher resale values.
2. Plan around deals
Another way to plan: Look for deals before you start remodeling. Say, for example, you know you want to update your kitchen. Keep an eye out for specials on countertops, kitchen island installation, or new windows. Once you buy the deal, plan the rest of your remodel around it.
3. Plan for the unexpected
Leave a little wiggle room in your remodeling budget for unexpected costs – most remodeling projects have a few. If you don’t have the cash on hand to pay for the overages, you might be tempted to borrow the money, which can result in hefty interest. The average interest rate for a personal loan is 9.49 percent, according toBankrate. The average interest rate for a home equity loan is 6.92 percent.
4. Don’t move plumbing
Moving drain lines is costly. According to MSNBC, relocating the kitchen sink can cost up to $2,000. Plan your remodel around the current plumbing. Adding or moving electrical outlets is also expensive.
5. Stick to stock sizes
Look for standard sizes when you purchase materials. Custom pieces cost far more than the stock pieces sold at home improvement stores. For example, RemPros, a remodeling group, says that custom kitchen cabinets can cost 60 to 80 percent more than stock cabinets.
6. Buy imitations
If you’re buying new materials, look for imitations or knock-offs – they’re cheaper. For example, solid oak hardwood flooring costs $14.26 per square foot at Lowe’s. Engineered oak flooring costs $2.98 per square foot and you won’t notice much of a difference.
7. Buy cheap materials
Many contractors mark up materials; others charge to pick them up. And big-box home improvement stores don’t always have the best prices. Buy materials yourself at resale stores like the Habitat for Humanity ReStore – there are about 400 across the country. You can also find free or cheap materials online through sites like eBay, Craigslist, and Freecycle.
8. Attend building supply auctions
Stacy once bought a new Miele oven worth $3,000 for $600 at an IRS auction. To find local building material auctions, search “building material auction [your state].” Other places to check:
Before attending any auction, however, do enough research so you know the value of the items for sale, then decide on the max price you’ll pay. Auctions can be a great way to save, but getting caught up in a bidding war can be costly.
9. Ask for leftover materials
Contractors often have extra materials from past jobs. They may not be exactly what you wanted, but you’ll probably be able to negotiate a hefty discount by taking them off his hands.
10. Haul materials yourself
Having the store deliver your materials can be expensive. If you don’t have a truck, rent one. Home Depot rents trucks by the hour. Prices vary but cost about $20 per hour in my area.
11. Don’t pay for haul-away
Hauling away the old materials gets expensive, especially if you’re undertaking a large remodel. In my area, it costs $22 to have one appliance picked up on trash day. If you’re remodeling entire rooms, you might have to pay for a dumpster to hold the trash in between trips to the dump. Instead, call up your local Habitat for Humanity. They’ll pick up anything salvageable for free – and you’ll get a tax writeoff.
12. Don’t go overboard with granite
Granite countertops are nice. They’re also pricey. But if you’re set on having them, compromise. Pair your granite countertops with a cheaper backsplash. For example,
- Granite tile = $21.42 each at Lowe’s
- Ceramic tile = $0.21 each
- Total savings = $21.21 per tile
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