You can increase the value and satisfaction of your home by renovating, but who really has the money to do such a thing with this economy? Even still, you can get a renovation project going strong with little money, so long as you know where you can shave your costs.
When you can go the "used" route, always take it. Used materials will always be less expensive than the prices you will pay for materials in the store. This is common with furniture, but at select sales you can also find bathroom supplies, tiling, lumber, and perhaps even larger items such as a vanity. Investigate your local resale shops before going to the home improvement store.
You shouldn't have to buy brand-name materials each time you go out. It's bad enough buying a brand name shirt or jeans and pay way above average price, but housing materials shouldn't see the same mark up. You can substitute the high price of a marble sink with one that imitates the look and feel of one, for instance.
Renovations are typically only done in certain months of the year where climates are extreme. A midwest climate in the United States, for instance, can prove to have cold winters and humid, hot, summers. The time in which most renovations would be done is in the Spring and Fall, so retailers know to increase prices then. Consider buying materials during other seasons to save money from marked up prices.
It never hurt anyone to be more handy around the house. You don't have to waste your dollars on a renovation company. Instead learn the tricks of the trade yourself and enjoy the fruits of your labor. You'll feel better about accomplishing something, and the money saved is a big treat in the end. The biggest benefit is being able to achieve a higher cost to benefit ratio when you sell your house, and see the money that your work has earned you.
Have patience with your renovation. If you don't have the money to do a renovation just yet, don't resort to a loan if you want to save money. Loans were created to make bankers money, not save you money. Depending on the size of your loan, you could easily shell out a thousand or more dollars in excess interest that you won't get back.
Closing Comments
Saving money is a good idea, but also remember that sometimes you need to pay more for a better quality of home renovation. Companies do sometimes need to help you with it, since you probably don't have all the necessary skills in order to do the renovation by yourself.