In an economy like this, it’s hard not to talk about money. Since it’s our blogiversary week, we wanted to revisit the most expensive project in Young House Love’s history and share how we made it easier on our wallets.
You’ve likely seen photos of our kitchen remodel (they’re below), but unless you read back to January, you may have missed our detailed cost breakdown of the massive project. In that post we opened up our finances and showed how a $17,500 renovation still left room for $5,500 in savings through contractor negotiations, sales, and discounted purchases. It proved you can be both frugal and ambitious when improving your home.
One tactic we didn’t mention in January was using a no-interest credit card promotion to squeeze out extra savings. When it was time to pay roughly $14,000 for cabinets, countertops, and installation, we opened a Home Depot credit card during their “no interest or payments for 6 months” offer. We already had the cash, but instead of paying immediately we put the money into a high-yield savings account. For people who don’t like owing anything, this felt strange, but it paid off.
After six months we used the accumulated savings to pay the card off in full. The interest our savings account earned was about $210 — not a fortune, but enough to offset costs and to make our faucet and seeded glass pendant feel almost free. Small wins like that can make a big renovation feel more manageable.
What about you? Do you have money-saving strategies or stories from your renovation projects? We’re always eager to hear smart ways to stretch a budget without sacrificing quality, so share your tips and favorite bargains.