Owning a home is a dream come true for many Filipinos. But over time, even the best homes start to show signs of wear and tear. Paint fades, tiles crack, and fixtures break down, which can affect not just how your home looks, but also how safe and comfortable it feels. This is why you need to refurbish your home once in a while.

Refurbishing your space restores its beauty, strengthens its structure, and ensures it remains a place you’re proud to call home. The only challenge? Home refurbishment projects can be expensive if you’re not financially prepared. To help you prepare, here are smart ways to start saving today and get one step closer to building a safer, more beautiful home for you and your family.

1. Plan Ahead and Set a Realistic Budget

Before anything else, you need a clear plan. List down the specific areas of your home you want to fix or improve, then create a timeline for your project. Dividing the renovation into phases is a great way to make the costs more manageable and the timeline more doable.

Once you have your plan, estimate how much the entire project will cost. Then, divide the sum by the number of months before your desired start date. This tells you exactly how much you need to save each month so you’re sure you’ll have the funds for the whole project. Be sure to add around 20% extra to cover unexpected expenses like price hikes in materials.

2. Implement a Smart Saving Strategy

Once you know how much you need, create a separate savings account dedicated solely to your project. Choose a bank that offers a high interest rate so you get more from your money. Some banks even let you set up digital “envelopes” to organize your budget and savings goals more clearly.

On the other hand, if you have substantial funds that you can park for a while, creating a time deposit Philippines account is another great option to consider. You can choose from different terms, usually 3, 6, or 12 months, which can be enough lead time depending on your project’s scope and timeline. Also, some banks like Maya offer products like Maya Time Deposit Plus with up to 6% p.a., so you’ll enjoy bigger earnings. Simply put, a time deposit is a win-win—you grow your money and you don’t get tempted to use the funds for something else.

3. DIY Wherever You Can

Hiring professionals for every small job can quickly drain your renovation budget. Fortunately, you don’t need to outsource everything. Tasks like painting walls, installing shelves, or changing cabinet hardware are easy to learn and tackle on your own. If you’re not sure where to start, video tutorials and DIY blogs offer step-by-step guides that are beginner-friendly. As for the tools, try to borrow them from friends or neighbors. Through DIY, not only will you save thousands of pesos in labor and equipment costs, you’ll also feel a great sense of accomplishment knowing you had a hand in upgrading your dream home.

4. Cut Unnecessary Expenses

Saving for a big goal like home refurbishment requires some sacrifices. So, take a close look at your everyday spending habits. Do you frequently buy takeout meals? Subscribe to apps you barely use? Splurge on online shopping? You may want to consider trimming down on these small luxuries for a while. Instead, you could brew your coffee at home, cook more meals, and unsubscribe from services you no longer need. Every peso you save today inches you closer to your new and improved home. The reward will be worth it when you finally see your transformed home.

5. Research Before You Buy or Hire

Do your homework before you rush into buying materials or hiring a contractor. That’s because prices for construction materials and labor can vary widely from one supplier or service provider to another. Visit different hardware stores and compare prices for items like tiles, paint, or lighting fixtures. Also, take advantage of store anniversaries or holiday sales. You might find big discounts that can easily save you thousands of pesos when you shop during these periods.

When it comes to hiring a contractor, get at least three quotes and ask to see samples of their previous work so you can compare objectively. Also, check client reviews. A contractor may offer the cheapest option, but if reviews show poor workmanship, you might want to skip them. Otherwise, they might cost you even more in the long run.

6. Sell Old Materials or Items You Don’t Need

Before tossing anything out, consider whether it has resale value. Old doors, windows, sinks, tiles, or even furniture could be exactly what someone else is looking for. List these items on online marketplaces or hold a weekend garage sale. The extra cash you earn can go directly toward new materials or labor costs for your renovation.

Decluttering also makes it easier to work around your home during the refurbishment process and gives your space a fresh start—perfect for your soon-to-be upgraded home!

7. Look for Second-Hand or Vintage Finds

While you’re clearing out old items you don’t need, why not look for some second-hand treasures, too? Vintage window grills, reclaimed wood, classic light fixtures, and even broken tiles can add a lot of character to your home without costing a fortune. You can check online marketplaces or local surplus shops. Sometimes, you’ll even find people giving things away for free if you’re willing to pick them up.

Save for Your Dream Home Today

Refurbishing your home takes more than just money. It also requires planning, discipline, and lots of creativity. But with smart saving habits, you can bring your dream home to life without drowning in debt. Start today. Map out your renovation, consider opening a time deposit for your project, and find small ways to cut back. Before you know it, you’ll have enough funds to refurbish and have a fresh, beautiful space you’re proud to call home.