About 20 million households own a timeshare. Many people love the idea of owning a vacation home. However, it can be quite expensive, especially if you need to make renovations to make the home liveable. There are short-term and long-term ways to save money on renovations. It is possible to spend less during the renovation with some smart planning. Furthermore, some strategic changes to your home’s layout and design can mean significant savings on energy bills and maintenance costs in the long run. Here are a few tips that can save money on your vacation home.
Shop Around for the Best Deals
Avoid going for the first deal you get. Instead, compare prices at different stores before you make any major purchases. It is surprising how much you can save by simply doing a bit of research. Additionally, reuse or recycle some building materials by checking with your local recycling center before you dispose of anything. This is good for the environment but can also help you save money. You can also buy reclaimed materials for the build as they are cheaper. Simply check that the pieces are not too damaged to ensure quality and avoid problems and replacements later on.
Another way to save money on a vacation home is to choose low-maintenance materials for the house’s exterior. This includes using durable, low-maintenance materials for the roof and siding. You can also save money by choosing energy-efficient windows and doors.
Do Some of the Work Yourself
This may seem daunting, but if you are handy and have some basic renovation skills, it can be an excellent way to save money. Many resources are available online and in home improvement stores to help you with your project. If you are handy, there is no reason why you can’t do some of the work yourself. It is also an opportunity to learn new skills and more about your vacation home. You can also save money on a vacation home by ensuring it is properly maintained. This means hiring a professional to regularly inspect and clean the property.
Making Your Vacation Home Energy-Efficient
According to the Department of Energy, you can save up to 10% yearly on heating and cooling by simply turning your thermostat back 7-10 degrees for 8 hours a day. It’s no secret that heating and cooling costs can put a serious dent in your budget, especially if you live in an area with extreme temperatures. Making your vacation home more energy-efficient can save money in the long run. For instance, installing a programmable thermostat will save energy costs by automatically setting the temperature when no one is home. You can also install energy-efficient appliances that use less electricity and water, saving money on utility bills.
Professionally Sealing Your Home
Sealing your vacation home to ensure that it is well insulated is important to keep it warm in during the winter and cool during the summer. By professionally sealing your home, you can reduce energy costs by 10% to 20%. You can also apply for an energy-efficient mortgage, which will allow you to finance the cost of energy-saving renovations. One of the ways to seal a home is by adding insulation to your attic. You can also upgrade doors and windows to insulated ones. This can save you up to 15% on your energy bill.
By following these tips, you can save more finances during renovations for your vacation home. Just remember to stay focused and don’t go overboard with the improvements. With a little planning, you can have the vacation home of your dreams without breaking the bank.