5 Ways To Save On Home Renos

Renovating your home is one of the best investments you can make, and this is the year to make those renovation dreams a reality. Whether renovating to sell or just upgrading to enjoy your home, you will reap the rewards in a return on investment.

The 2015 Remodeling Magazine Cost vs. Value report, which gauges what projects will allow homeowners to recoup a substantial percentage of their investment when they resell their homes, says five projects have risen in value over 2014. Of those five improvements, roofing replacement led the way, rising 5.9% to 71.6%. The other four gainers were the midrange garage door replacement, up 5.6% to 88.4%; the 20-gauge steel replacement entry door, up 5.4% to 101.8%; vinyl siding replacement, up 3.2% to 80.7%; and fiberglass replacement entry door, up 1.7% to 72%.

While most improvements offer payback in terms of resale value, wood deck additions, kitchens, bathrooms, window replacements, and basement renovations all have a return on investment of 70% or more.

Whatever renovations you decide on, there are ways to keep costs in check and save without compromising quality. Here are a few tips to keep in mind:

1. Simple mechanics
   Take advantage of existing plumbing when designing kitchens and bathrooms to save money.

2. Design for efficiency
   Building energy efficiency into your renovation will pay you back in energy savings and comfort. When upgrading siding, for example, install rigid insulation. When renovating the kitchen or bathroom, upgrade the insulation and add a vapour barrier.

3. Build up
   Save on excavation and foundation work by building your addition on top of the existing structure.

4. Stock versus custom
   Where possible, incorporate stock cabinets, counters, doors and fireplaces into your reno to save on expensive custom work. Give stock items a custom look by upgrading the hardware, handles and knobs.

Courtesy: Homeservice Club