While Covid-19 did have everyone stuck inside for the majority of 2020 and even now in 2021, it has introduced many households to the craft of home improvement, room makeovers, and DIY renovations. And, not to anyone’s surprise, many fell in love with the opportunity to fix their home to suit their design aesthetics, or maybe even finally get rid of that one mess they’ve been aching to resolve for the longest time.
However, prices are suddenly increasing. The once-affordable DIY projects are becoming less financially feasible for people just looking for a lovely weekend plan to keep their minds and bodies busy while away from work. And so, today, we’ll be learning just what’s causing this surge in prices and what we can do to maintain the home improvement grind without having to break the bank in the process.
Why Do Projects Cost More All Of A Sudden?
There’s no denying that global trade and major supply chains are strained, and it would be very easy to blame them for all the price hikes. However, while this is true to a certain extent, specific developments directly affect our ability to engage in DIY home projects, namely the (1)increased demand for home building and the (2)global chip shortage.
Increased Demand for Home Building
The real estate market is in red-hot territory right now. There’s increased demand for homebuilding and housing developments that are driving lumber prices higher. As a result, all the supply for lumber goes to the hungry housing development companies that need the materials to put up new homes, leaving us home project enthusiasts with what’s left and higher prices. So, regardless of the deals we find from our favorite suppliers, the current economic trend just won’t let us have anything cheap for the foreseeable future.
Global Chip Shortage
Room makeovers, specifically the kitchen space and living room area, often entail buying new appliances and getting the latest gadgets to get that extra oomph in comfort. However, we are still at the cusp of a global chip shortage that’s running rampant from the technology sector all the way into the auto industry. And, while you’d generally think this shouldn’t affect basic home appliances, nearly everything we own nowadays uses one. So getting that brand-new TV or smart refrigerator would need deeper pockets.
Budget-Friendly Home Renovation Tips to Follow
Luckily, it’s not impossible to start and finish some DIY home projects if you’re good with a budget, andknowing that home renovations already call for good budgeting skills, it won’t be that hard to transition into the new normal of home improvement. So, with all the aforementioned news in mind, here are some budget-friendly home renovation tips you can apply to your craft:
Limit Your Aesthetic-Only Upgrades
We’ll admit that we’re suckers for a good aesthetic upgrade, whether it’s getting a new backsplash for the kitchen, redoing the bedroom paint job, or maybe investing a bit more into backyard landscaping, there’s never an end to how much fun you can get with aesthetics. However, knowing that aesthetic-only upgrades are on the pricier end of the project spectrum and not the most functional either, we recommend limiting your exposure to them. Preferably, you want to focus on the stuff that matters and directly affects the quality of living, such as installing a new air-conditioning system or getting that toilet to flush properly again.
Recycle Leftover Project Materials
If you’re quite a seasoned veteran when it comes to home improvement projects, then it won’t be a stretch to say that you have some leftover project materials just taking up space inside the backyard shed. So, instead of letting them loiter there for an indefinite amount of time, we strongly recommend recycling them as materials for an entirely different project. You’ll be surprised at how much fun you can have just by limiting yourself to what’s available, plus it won’t cost you a dime as well!
Stick To Smaller Budget Fixes For Now
In the end, if you do still wish to start something fresh and need new materials to get it done, remember to stick to smaller budget fixes in the meantime. Sure, larger-scale projects are a lot more fulfilling to finish, but we can’t afford to take on quite the unnecessary expenses. Be modest with the budget you allocate and be strict with how you spend your money; that way, you won’t end up over-drafting your bank account by accident just because you wanted a new backyard patio.
Don’t Let The World Dictate What You Can And Can’t Fix.
Overall, while prices are increasing, that doesn’t mean the world can boss us home project enthusiasts around and stop us from enjoying our hobby. So, feel free to apply the advice above to your liking and share it with your friends to let them in on the budget secrets as well.