6 Renovation Tips to Save You Money

Glenn and Amber Schworm, founders of the Home Flipping Workshop, have renovated multiple properties and now want to share their tips to help you save time and money. 

With house flipping trending, people make mistakes they can avoid with the correct information, which will elevate your renovations to the next level. 

Glenn and Amber’s recent new video titled, 6 Renovation Tips to Save You Money, gives the viewer a glimpse into how they can make a total impact on their renovations by implementing these tips.

Creating changes to a property is essential, but there is a line between renovating smartly and wasting money. Glenn and Amber are telling you how to avoid the mistakes they made. Their helpful advice will help you increase and not decrease your profits. 

SIMPLIFY YOUR RENOVATION

Each renovation will be different, so you must know your completion plan. It does not have to be complicated or challenging. 

Cutting down the stress and chaos of being unprepared by streamlining your project will keep you from being overwhelmed. Staying focused will ease the frustration of your renovation.

Renovations are a significant undertaking that needs preparation. Having a timeline and a work schedule before you start will establish structure.

Here are a few steps to follow to help you navigate through the process:

  • Create A Plan
  • Set A Budget
  • Hire Contractors
  • Secure Permits
  • Purchase Materials
  • Paint And Installations
  • Finishing Touches
  • These are all vital elements in simplifying your renovation. 

    PLAN YOUR RENOVATION

    The first thing to remember is to not go crazy on your renovations. Home renovation is an expensive process that can become overwhelming and confusing.

    Using a scope of work template during renovation can organize and structure your renovation process. It is like having a map that advises you of the current phase of the job. 

    Working with a budget to give a general idea of the cost will ensure the project’s success. Knowing how much you will need to spend determines what you can do. 

    Being inspired by your space and writing the vision for your design, you have an end goal. Being thorough can save you money, stress, and time. 

    Let’s not “wing it.”

    BUSINESS ACCOUNTS & OVER-IMPROVEMENTS

    The all-in-one approach when shopping for your renovation saves you time and money. Taking advantage of big box stores will eliminate the stress of running around to make purchases.

    Creating an account with these stores can sometimes offer you competitive prices. Also, buying bulk can put you in a better position to ask for discounts.

     Making purchases for your renovation calculates into the resell of the property. Over-improving your property can sometimes make it harder to sell.

    Doing your research can help determine the pricing point of properties like yours so that you can estimate their current worth. People ask “why” when properties sell higher than others of the same magnitude.

    PERMIT TO RENOVATE

    When renovating, required building permits ensure safety and ordinance rules are in place. They also show that your renovations follow local codes. The contractor submits all building permits to an inspector for review. 

    Permit requirements can vary depending on the city. Checking with your city can save you hassle, money, and time. Below are projects that require building permits;

  • Window Installation
  • Structural Changes
  • Electrical Work
  • Plumbing Work
  • HVAC Replacement
  • Room Additions/Remodels
  • Being caught without a permit when renovating could get your project shut down. As a result, failure to do so could be expensive, with fees, fines, violation, a policy void of homeowner’s insurance, and even having to disassemble any work.

    GETTING IN AND OUT OF THE RENOVATION

    When dealing with contractors, they usually can give you a realistic timeline for a project’s start and completion date. Timelines are contingent on no surprises or unforeseen situations.

    Following your plan in knowing what you want and sticking to your budget will have your renovation moving along. Also, advance shopping and ensuring that materials needed are in stock and available.

    Making quick decisions will make things easier and keep you on schedule with your project. The Home Flipping Workshop will show you and help you learn the process of doing so successfully. Contact a team member right now to secure your space at our next virtual 3-day class.