Revamping your home doesn't have to cost a fortune. Simple changes like painting walls and rearranging furniture can add a fresh new look without blowing your budget.

Budget

Whether a sketch on a napkin or full-blown architectural plans, having a clear vision for your renovation is the first step toward keeping costs in check. It also helps to define why you're renovating and whether your goals are the best return on investment, curb appeal, or passion projects.

Before getting started, it's important to research the cost of materials and contractor fees. You can find this information online or at local hardware stores. Getting multiple estimates from renovation services is also helpful. If you discover one quote is far lower than the others, this is a red flag that it may be too good to be true.

Creating an emergency fund to tap into during your renovation is also a good idea. Something will inevitably go wrong, and it's better to be prepared than caught off guard by unforeseen expenses. You can save money by working if you have the skills and time.

Design

Whether aiming for an entirely new look or simply refreshing the existing one, a lot goes into making your home a truly unique and captivating place to live. The design is a vital part of the renovation, and it should be carefully thought out to ensure that the results meet your expectations.

The key difference between a renovation and a remodel is that remodeling changes the overall structure of a building, while renovating only alters the surface details. Remodeling is more complex and thus costs more, as it requires a lot of plumbing, ductwork, and electrical work.

When planning a renovation, it is important to remember that the work will take time and that you should have enough money set aside for unexpected expenses. It is also a good idea to have a timeline for the project, as this will help you plan your life during and after the renovation.

Materials

Home renovations can be expensive, and many projects will require a lot of materials. It's best to plan and decide your budget before hiring a contractor. It's also a good idea to have 5 to 10% more than you need in case of unexpected costs or unforeseen issues.

Repainting walls is a cheap way to change the look of rooms and can make your house feel new again. Other inexpensive changes include:

• Replacing light fixtures and hardware.
• Reorganizing shelving.
• Adding fresh plants to your garden.

Major renovations can cost much money but add value to your home. Depending on what you want to do, it's possible to find ways to save on materials by shopping around or finding DIY options. Many renovation contractors know design trends and can help you select paint colors, flooring, and window treatments. They also have cheaper access to materials and supplies at a big box store.

Contractors

If you plan to take your renovation to the next level, it may be time to bring professionals. Whether that means working with an architect or simply hiring a general contractor to oversee the daily construction work, you'll want to ensure your team is properly vetted and insured before you begin.

Ask each renovation professional on your list to provide a detailed proposal and estimate, called a bid. It should include details on the project timeline, materials, and costs. Look for contractors who have experience with similar projects and can provide references and proof of liability insurance.

For large-scale renovations, you may also need to hire a licensed architect for design services that can help you get your building permits and approvals. Additionally, you may need to bring in subcontractors for specific tasks, such as plumbers or electricians. The more you plan for your remodel, the fewer surprises you'll encounter.