Written by Moriah Costa
Published Jul 13 | 6 minute read
Home renovation costs can add up quickly—and it's easy to go over budget if you're not careful.
The little things quickly add up and before you know it, you might find that your small renovation project is a lot bigger (and more expensive) than you bargained for. Renovation costs can climb quickly, especially when materials, labor or project scope change unexpectedly. Renovation costs can climb quickly, especially when materials, labor or project scope change unexpectedly. According to Synchrony’s 2025 Lifetime of Home Care study, 75% of homeowners have experienced an emergency repair that required immediate attention, and 40% of those emergencies cost more than $3,000. When renovation plans overlap with surprise repairs, costs can rise quickly—which is why a clear plan and a few smart cost-saving strategies can help you stay on track.
By planning carefully, however, you can save hundreds—or even thousands—of dollars on home renovation costs. Here are some tips on how to cut the cost of home renovation.
Before you begin your home improvement project, it's vital to create a detailed renovation budget that outlines labor, materials and contingency costs.
If you want a step-by-step approach, use this guide on how to create a budget for home renovation.
Aside from the typical home renovation costs (e.g., labor, materials, etc.), your budget should include other related or unexpected expenses, like a hotel if you need to stay away for a few nights or takeout if you're unable to use your kitchen. You should include a buffer of around 10% to 15% to account for any unexpected expenses.
Forgetting about building permits is a common, but costly, mistake. If you've started your renovations and don't have the proper permits, a building inspector could make you start over, which can cost you time, materials and money.
Check with your city or county to find out if you need any permits before you start renovating.
Before you go out and buy all new materials, take stock of what you already have and what you can upgrade or repair. Unless something is structurally falling apart and damaged beyond repair, it might be cheaper to reuse the item elsewhere.
For example, you can repaint your kitchen cabinet doors and replace the door handles to get a new look in your kitchen without having to buy new ones. Or you could consider using those fixtures elsewhere, such as in a bathroom.
If you're using a contractor to help with renovations, you might be able to save money by sourcing and buying materials yourself. Shop around at different stores to find the best price on items and check out any sales. Some homeowners choose to use rewards credit cards for renovation purchases to earn value back on materials or labor.
Another way to save money on building materials is to schedule a pickup instead of getting materials delivered. If you have enough room in your car, going to get materials in person can help you save on delivery costs.
Rather than getting everything online or at a major retail home improvement store, you might be able to find deals at your local building supply reseller. These distributors have everything you could need to renovate your home and are usually cheaper than buying materials retail. And you'll not only save money, but you'll also be supporting local businesses.
Painting your house yourself costs a fraction of the price of hiring someone to do it. And it's a lot easier than you might think. All you need to pay for is the paint and materials. You can even rent out ladders to reach corners and the ceiling. Just make sure to ventilate your room so you don't get sick from paint fumes.
Do you have your eye on a particular style or product, but it's out of your budget? Try to see if you can find a similar style elsewhere. In many cases, you can look for a material that mimics the look of what you want but costs less. For example, white quartz is a great cost-efficient alternative to marble countertops for your kitchen.
If you have hardwood floors, consider refinishing them instead of getting new floors put in. New flooring is expensive. Instead, rent a buffer to sand your floors, then apply a coat or two of finish. Depending on how big the room is, you can get it done in a day or two.
If you wait to do renovations until the winter, you might be able to save some money. Winter tends to be an off-season for contractors, so you might be able to negotiate a lower rate. Retailers also tend to have more sales during the winter months, so you may find better deals on building materials and appliances.
For appliances specifically, major holiday sales events can be a good time to shop, and bundling multiple appliances in one purchase may help increase your savings — see when is the best time to purchase new appliances for timing tips.
There are some renovation jobs that require a professional (like plumbing or electricity). But that doesn't mean you have to spend a lot of money. If you're hiring a contractor, ask for multiple quotes and compare them. Aim for at least three quotes when possible, and ask contractors to break down pricing by labor, materials and timeline so you can compare options more clearly. These are a few of the strategies in tips to help you negotiate with a contractor.
If you offer to buy your own materials, for example, you might be able to save a few hundred dollars. But keep in mind that the cheapest contractor isn't always the best. Make sure to take referrals and reviews into account when deciding on hiring a contractor.
If you plan to do a lot of renovation projects, consider splitting them up into rooms or sections. This will give you time to save and plan ahead. You can also spend time looking for great deals on materials and products.
If you know you're planning to renovate in the next few months or year, consider setting up a high yield savings account so you can start stashing money away and earning extra cash. Synchrony Bank's high yield savings account, for example, offers competitive rates with no minimum deposit or monthly fees.
Another way to help when you're renovating your home is to use a credit card specifically designed to help you finance home furnishings.
The Synchrony Project Card can be used at thousands of contractors across the nation. The credit card can be used to renovate and repair all areas of your home.
Whether you find yourself in need of new windows or you just want to change up the look of your kitchen, planning ahead can help you save money when renovating. And by buying your own materials, DIY painting or renovating in the winter, you could meaningfully reduce your renovation costs.
If you’re planning a renovation and want help finding professionals in your area, explore Synchrony’s Home Improvement Locator to connect with contractors near you.
READ MORE: Are You Overspending on Your Home Improvement Project?
Moriah Costa is a personal finance and investing writer. Her work has appeared in Thomson Reuters, S&P Global, The Washington Business Journal and others.