Save money by remodeling areas of your home that will allow the maximum return value should you sell it. The kitchen, bathrooms and the Master bedroom are most likely to give you a high return on your investment. The exterior is the first thing buyers notice and can either draw them in or scare them off. Pools and built in home offices have a low return value for your investment so these modifications should be made for personal use.
Create a budget that allows for overages otherwise known as a contingency fund. After talking with several contractors and choosing the one your comfortable with discuss the affordability of doing your multi-room project in stages verses all at once. It might be more cost effective to have the contractor complete two or more projects as part of a single job.
When your intention is to renovate for marketability keep in mind finishes that will appeal to the masses. While your favorite color might be purple, that color can be overpowering to the majority of potential buyers. If you are remodeling for your own personal preference consider using your favorite color in the way of paint so that it can be easily redone in the event you later choose to sell. Neutral shades work well with most buyers wants, pops of color can be added with decor, artwork and linens.
Any work you can do yourself will save you big dollars. Most renovations become costly because of labor costs. Demolition and painting are great ways to cut costs if you have the ability and time to do them yourself. You can also sign up for classes at your hardware store to learn other skills like laying tile, putting in flooring, or doing trim work.
Planning is key to saving on the cost of home renovation. Want and necessity are decisions that will help you determine a budget. Staying put or listing your home will give you perspective and a starting point.