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Money Saving Tricks Millennials Are Using to Remodel Their Homes for Less

Contributed by editor on Apr 04, 2019 - 11:35 PM


Time generally makes a home more valuable, but investing in upgrades and renovations can quickly boost its valuation.



Planting a few flowers and bushes in the front yard can help, but what really wows buyers is an expertly renovated and finished interior. So, whether that means installing new wall-to-wall carpeting and getting rid of those popcorn ceilings, or resurfacing the hardwood floors in your home, it normally costs a pretty penny to have everything done professionally. This is where Millennials are introducing ingenious concepts into the world of homeownership and upgrades. They aren’t just buying homes and then taking out home improvement loans; they’re exploring creative payment, home renovation, and even labour concepts that are making them come out on top of the real estate market.

DIY With Determination

For most, completing any type of DIY project is reason to celebrate. Seeing a do-it-yourself project through from beginning to end means that you took time out of your personal life to do something that you’d normally pay someone else to do for you. It also requires that you picked up some supplies on your own, read the project directions thoroughly and paid attention to safety precautions. In the world of home renovations, doing upgrades yourself might simply mean laying out a tarp and painting the walls. It could also mean demolishing a wall so that you can finally expand the lower level. What Millennials seem to have that other demographics fail to possess is determination. Announcing that you are embarking on a home improvement task is scary. It makes you accountable not only for carrying out the project itself but it also holds you to a standard when it comes to those final results.

Renovating Bathrooms Piece by Piece

When you consider what goes into renovating a room, you have to picture all of the elements. In a basement, you might need to install some insulation and drywall, perhaps painting a water sealant on the floors and installing some piping. Bedrooms may get new doors and hardware, carpeting and furniture. In a bathroom, there are so many things that have to be replaced and changed in order to get it to look new. Get the latest information about shower panels and see how a bathroom can be renovated piece by piece. Replace the tiles when you find some nice tiling that has gone on sale. Get a new vanity when you know that you are going to have a long weekend. Prepare to physically install that new shower panel when your handyman cousin is due to stay at your house for a couple of weeks in the summer. It seems that Millennials have the patience to see a home improvement project through for months, doing everything piece by piece. At the end of the day, this approach is cost effective and crafty.

Reusing and Recycling

Just because you want to get rid of something in your home because it doesn’t work for you aesthetically, doesn’t mean that it is worthless. When you watch a home renovation show, you can easily see what a room looks like before and after it has been improved. So, what happens to those old doors, bricks, and door knobs? Certainly, someone could use those. If you are a Millennial, you know that there is a network of reusing and recycling aficionados that works to find new owners for these old treasures. In fact, a lot of material that comes out of a home that is being renovated can usually be sold for a modest sum. There are countertops that look amazing and are made out of 100 percent recycled materials, such as glass. Old fixtures, windows, and doors can be turned into art and other integrated decorations. A lot can be said about recycling, and it looks like Millennial homeowners are mastering the ins and outs of repurposing.

Bartering for Services and Goods

It has only been in recent times that the act of bartering fell out of favor with the majority. Rather than needing to go through the trouble of exchanging cash for goods and services, neighborhoods would gladly exchange one service for another. As inflation has increased the cost of everything, yet salaries have stayed stagnant, Millennials are bringing back the age of bartering. They’ve already been trading in their cars for bikes due to the rising cost of gas. Millennials have learned the art of doubling and even tripling up in apartments that are little more than glorified studies. Now, master electricians are bartering their services for things like raw lumber or even tools in many occasions. So, many are forgoing getting quotes for remodeling jobs and are instead looking to get someone to renovate their home in exchange for a good or service that they can provide.

Keeping Roommates

It isn’t uncommon among Millennials to have mixed housing arrangements. For example, a young couple might go ahead and buy a big beautiful house that is well within their budget only to rent out the basement as well as the extra bedroom. Of course, they would greatly enjoy having their new home to themselves, but if they have dreams of renovations and paying off that mortgage early, the roommates have to stay. Additionally, having roommates enables these homeowners to justify every penny they spend in home renovations, new shower panels, upgraded plumbing systems, and the like.

There is just not a way to fully prepare for owning a home. You can have enough money to pay your mortgage for a year socked away in savings, but something is going to happen soon after you become a homeowner that is going to change your perceptions permanently. At the same time that you are learning how to balance paying the high cost of being a homeowner, you are also going to want to protect your investment. Keeping the lawn looking nice might be your way of highlighting its curb appeal. Painting the shutters is a nice move if you want to do something bold. There is nothing like being able to remodel your entire home by using the tricks Millennials have pioneered.


 

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