We all dream of renovating our home and having things fixed, with just a little bit of planning this dream can be reality. It may be beyond our budget but in this article I wrote for www.marvingermo.com I offer tips on how you can save on a home renovation. Marvin Germo has earned his title as a well-respected registered financial planner, personal financial consultant and key-note speaker. I’ve gotten to know Marvin as we both graduated from the same high school. His passion and gift with finances and the stock market is something truly motivating. As he likes to say
“To put it simply, I love helping people manage and plan their cash flow. It is my passion to help Filipinos, from different social classes and backgrounds, for them to be more equipped in their finances and help them towards their goal of financial freedom.”
Some ways to save on your home renovation include:
1. Start a “money jar” and save for your home remodeling.
In this article Marvin says that it is ok to renovate your home as long as you’ve covered all your bases. This means that you have a separate “savings bucket” for this renovation.
2. Hire an expert from day 1 if you can afford it.
I have a friend who made an expensive mistake of putting her trust in a friend who claimed to be a contractor. He ended up to be an architect with very little exposure and experience in construction so the house was awful! Everything was poorly executed and design was poor. She asked me to step in but little could be done on my end without breaking their budget because things were pretty much finalized. I explain more of this in Marvin’s blog.
3. For minor cosmetic changes, consider to do- it- yourself.
Changes that are superficial and don’t deal with the structure or construction can be done yourself. This includes painting walls, installing paintings etc. When drilling on concrete walls just make sure you refer to your building plans so that you do not drill on walls where electrical outlets and plumbing pipes are located.
4. Hire an expert and do everything virtually.
I offer a service called online decorating where you can get an entire detailed design concept (not structural changes) from start to finish by email. This concept is packaged so that anyone can execute the whole renovation himself. I discuss more of why this can be beneficial in Marvin’s blog.
5. Purchase during SALE.
Stores often go on sale from time to time. Follow these stores on Facebook to get updates on promos and if you like an item desperately but can not afford it, ask to be put on the stores mailing list so they can notify you during sale.
For further tips on home renovation from a financial point of view go to www.marvingermo.com You will surely learn tons of tips and insights.