When it comes to the real estate game I’m considered what most real estate realtors call a “veteran” in the business. I know real estate in-and-out to the point were all I thought about was about finding “propertunities” to invest and to renovate for a decent profit, usually in the 100k-200k range. In this range there is usually plenty of buyers. The hardest and most stressful times were when we were 2-3 months way from finishing the renovation and the investor could replenish the tied up money.
Below I structured a game plan that I stand on and guarantee on how investors will eliminate and or reduce the high costs of repairs, material and labor. These techniques have been tailored to save the renovator the most money possible without violating any safety regulations.
Renovations and Remodeling Made Affordable Without Violating Any Safety Regulations
We all want to save money on everything we purchase but we don’t want to sacrifice quality, this is where the famous quote “quality over quantity” comes in. Keeping the property within safety regulations is the goal. There is nothing wrong with being a bit frugal here and there. The tips below are tricks I have acquired over the years.
- Home Renovation Trick #1: Buy store brand – There is nothing wrong with buying store brand. Many people think because its store brand the item might be cheap, watered down, or not made from good items. Most of the popular brands we see in ads or on commercials on TV are made from the same materials as the store brands, the difference in most cases is that the popular brands spend a lot of money on advertising and therefore charge extra, since we see certain things being advertised we interpret those things to be “better quality” or “more durable” but in most cases the same company that makes the popular brand items also make the store brands.
- Home Renovation Trick #2: Plan ahead – Planning ahead will save you money and time. Proper planning can also keep you within a specific budget, by planning ahead you will have more time to look for deals and order custom made items on time, try using different services like the Home Depot app to order supplies or Yelp to see how the service at a certain store is.
- Home Renovation Trick #3: Don’t be afraid to ask for help – I learned the hard way when it comes to asking for help, I always thought that I could do everything on my own and that I was too good to ask for help, this costs me a lot of money and time.
- There was a time when I needed to finish patching a hole in the wall with drywall in one house and finish installing a couple of windows in another before the rain started in a few hours. I got ahead of myself that asking for help was the last thing in my mind. The rain decided to come early and to make it worst it rained for a week straight. Even though I covered the hole in house due to high winds water still managed to get inside the house and in between the wall. The second house was hit even worst, water got inside from all four sides. What was supposed to cost me $250 ended up costing me over $1,500.
- Home Renovation Trick #4: If you can’t do a job hire someone who can – Being frugal and being cheap are completely two different things. If you can’t do a job, hire a professional that will do it the right way the first time. This will save you time, money and a headache.
- Home Renovation Tricks #5: Know what you’re getting into – One of the worst things is to do a job without knowing what the hell you’re doing. Sure, remodeling and renovating might seems fun but it also costs money.
Home Renovation Should Be Affordable
Saving money is always a good thing specially when it comes to renovating a home. Not everyone is willing to save money the right way to complete a job. There have been times when I tell people that I love finding ways to save money and they automatically think I’m cutting corners or getting the cheapest type of a certain product but that’s not always the case, sometimes its not necessary to buy the most expensive brand for the best results, sometimes the most affordable product will do the same job as the higher end product.