Column: Tips for renovating a home on a budget

Renovations around the house require an investment of time and often considerable amounts of money. Findings from the 2024 U.S. Houzz & Home Study show that home renovations are becoming more expensive. The median renovation spending for homeowners has risen 60 percent since 2020. Angi, a home services website, reports the average renovation cost for homes between 1,250 and 1,600 square feet is $51,772. Final costs depend largely on the scope of the project.

Homeowners who want to conserve funds can take heart — it is possible to make meaningful changes inside and outside a home without breaking the bank. Here are some strategies for renovating on a budget:

— Create a budget and stick to it. Determine what you can afford and make that your maximum. Research comparable projects in your area and be realistic about whether you must adapt ideas to fit your price point. Build in a cushion of 15 to 20 percent for unexpected expenses.

— Maximize an existing floor plan. This Old House suggests working within your current layout before investing in costly expansions. Designers can suggest space-saving solutions such as replacing shelves with pull-out drawers in the kitchen. Even rearranging furniture can make a difference.

— Balance DIY with professional help. Tackle simple projects yourself if you are confident in your skills, but hire vetted professionals for specialized work to avoid costly mistakes. Ask if there are prep tasks you can handle to cut costs.

— Check clearance and resale stores. Builders’ surplus items often end up at nonprofit outlets such as Habitat for Humanity ReStores. Discount and warehouse retailers also can offer significant savings on materials and furnishings.

— Take advantage of free services. Some stores offer complimentary consultations with designers who can help you visualize projects and suggest cost-effective solutions.

— Resurface instead of replace. Paint can transform a room at minimal cost. Hardwood floors can often be buffed and recoated rather than replaced, and kitchen cabinets can be resurfaced for a fresh look.

Creative thinking can go a long way toward affordable renovations. With careful planning, homeowners can achieve meaningful results without overspending.