One way to save money for home improvement projects is to have a savings account dedicated to this purpose. Another is to take advantage of sales and coupons.
Look for Coupons
Whether it’s tool coupons for your new shed or discounts for that brand-new backyard fire pit, shopping for home improvement and DIY tools with online deals and sales is one of the best ways to save money on projects big and small. Plus, signing up for email programs or setting deal alerts ensures you’re always the first to know about upcoming discounts, promotions, and sales that can boost your savings. Credit cards can also be valuable for stretching your home improvement budget, especially when paying for large purchases like appliances or fixtures and finishes.
By earmarking rewards to specific categories and taking advantage of 0% interest introductory APR periods, you can pay for the things you need without blowing your budget. Then, the money you saved can go toward other important goals or those “spice of life” expenses mentioned earlier. Finding the perfect credit card for your needs may be tough, but you can score a great deal with a little research and some patience. That way, you can finally tackle those long-neglected projects and turn your house into a true home. Remember to pay off the balance before that 0% APR period ends.
Look for Deals
Home improvement projects can be expensive. That’s why watching for discounts and specials is important to help cut the costs of your DIY remodel It’s good to watch out for sales at national home improvement stores. These retailers often run big promotions around holidays such as Black Friday and Cyber Monday but also have regular sales throughout the year. If you watch for these deals, you can save on patio furniture, appliances, and tools. You can also look for deals by checking out online coupons and rebates, such as WalMart coupons.
Some retailers offer manufacturer’s rebates that can be combined with store-offered discounts to save you even more money. Finally, if you can afford to pay for a large purchase with a credit card that offers cash-back rewards, do so. While it can be easy to get into trouble with credit cards, using them wisely (and paying off the balance in full each month) can be a great way to save on major purchases for your project. If you need help or want to make a big purchase with a credit card, check to see if your local home improvement stores have credit cards that you can use for discounted items. Some even have loyalty programs that save you up to 10%.
Do It Yourself
It’s always better to pay in cash than to borrow money or put things on a credit card, but it’s especially important during home improvement projects. This can help you save on interest, a huge chunk of any major renovation’s total cost. Researching financing options early on can also go a long way toward a smoother project. Consider options like home equity loans, cash-out refinancing, and company-specific financing, such as the pay-over-time option available. Taking return on investment into account can also guide how you approach your project’s budget.
Shop Around
Home improvement projects are expensive, but you can minimize the blow in a few ways. Saving up cash and using a rewards credit card can help you cut costs while giving you the peace of mind of knowing your project will be covered in case something unexpected comes up. When planning your project, getting a realistic estimate of your spending and how long the work will take is important. Talk to contractors and other homeowners who have done similar renovations, and look up materials on your own to see how much they cost. By researching, you can create an accurate budget and give yourself some wiggle room for those unplanned expenses.
Another way to cut costs is by shopping around. You can do this in-store or online. For example, some stores offer weekly sales where customers can save up to 80% on furniture and rugs. Others offer seasonal sales, like Black Friday, where you can score big discounts on kitchen and bathroom fixtures and appliances. It’s also worth considering what other rewards cards you have when making a large home purchase. Especially with a new purchase, meeting minimum spend requirements on one or more cards for elevated sign-up bonuses or earning bonus points through shopping portals may be possible.
Check for Discounts
Checking for discounts is a great way to save money on home improvement. Many merchants have a weekly ad, coupon, or offers section online, and some offer apps that include store and manufacturer coupons. Examine bargain websites that track coupons and immediately add them to your cart or checkout page. Ensure the codes are valid and don’t expire before your next shopping trip.
