The Ones For Real Estate: Home Renovation Hacks

Making changes to your home doesn’t have to cost and arm and a leg because sometimes the most noticeable difference comes from the smaller changes.

Video Transcript

- This one's for real estate. We're talking home renovation hacks. Sky high prices for building materials right now making it almost impossible for anyone to revive their home. So here are some ideas to get you buy just in the meantime until things calm down.

As we've reported, building material costs have exploded due to a shortage, but also booming is the desire for people to make some upgrades to their homes. So what do you do when those dollars you've saved up for projects just don't go far enough anymore?

WILLIAM HAMILTON: So we've seen most of our hacks come in the form of aesthetic refresh of sorts.

KEN MOLESTINA: You have to start thinking differently says William Hamilton, a project manager from 6th Avenue homes. He says there are a few easy things you can do now while you wait for those prices to come down. First off, he says remember that lumber steel and concrete are the highest in demand. So consider using alternative products or materials to getting some jobs done.

WILLIAM HAMILTON: But if you're willing to be a little different or try something new, the one off products are still accessible and available.

KEN MOLESTINA: Take this project for example. The client didn't like the new price of the tile they once wanted. So--

WILLIAM HAMILTON: Instead of going up with a finished floor, the client wished to utilize the slab as the finished floor.

KEN MOLESTINA: They simply sealed it and ground a pattern into it. Next, Hamilton says using wallpaper with designs that you like is an easy way to renovate an entire room without having to build anything from scratch.

WILLIAM HAMILTON: Play with patterns. We've had some caricature come into our patterns, colors floral design, and so on and so forth.

KEN MOLESTINA: A third popular tip may not come as a surprise to you but rather as a reminder of just how easy it could be to change an entire space by simply using fresh paint.

WILLIAM HAMILTON: A little bit of color, a little bit of life, varied hues, varied finishes.

KEN MOLESTINA: So now that you have ideas something else that you might want to plan for. Labor is also delayed according to experts, so you might want to plan for that in case you can't get all the work done yourself.

Experts say it's hard to tell when the materials costs could peak. For now, the way to go is pausing renovation plans or being open to new ideas.

WILLIAM HAMILTON: Maybe it's not time to do the full remodel or the full new build that you'd always dreamed of, but what you currently have you can work with and avoid some of that cost.

- Well, folks if you have a story idea for us, all you have to do is send me an email at ones4realestate@cbs.com.