We get asked this question all the time: when should you splurge and when should you save during a home renovation and decorating process? The answer varies by situation, personal priorities, and budget. Sometimes we’ll splurge on one item because we love it and can’t find a good substitute, and save on another by doing it ourselves or sourcing inexpensive alternatives. Below is a straightforward, practical breakdown of how we decide what to invest in and where we cut costs, with concrete examples from our own house.
“Splurge” and “save” mean different things to different people. One person’s splurge might be hiring professional built-ins or a large-scale kitchen renovation; another might consider hardwood floors a splurge even if they install them themselves to save on labor. Conversely, what one person calls saving might be exclusively buying secondhand, while another includes affordable new items from big-box stores. With those caveats, here’s a clear list of what we’ve chosen to splurge on and what we’ve saved on so far.
So far in our new house, we’ve splurged on:
- Hardwood floors throughout the second floor
- An upgraded, long-lasting slate-like roof
- An extensive sunroom renovation with durable materials and improved ventilation
- Professional grading to level the yard for better drainage and landscaping
- Upgraded doorknobs to replace worn, dated hardware
- Two smart thermostats for improved comfort and energy savings
- Higher-quality furnishings in select rooms (for pieces we expect to keep long-term)
- Extra-thick crown molding in key rooms for architectural impact
- Upgraded light fixtures in focal points like the kitchen and foyer
- A durable stair runner to protect high-traffic stairs
- Privacy trees and major landscape plantings that will mature over years
- New laundry appliances with features we know we’ll use regularly
Some of those items fall between splurge and save — for example, scoring a high-end table at a deep discount or installing a pricey runner ourselves to save on installation. We balance selective investment with smart savings tactics so the total budget gets stretched without sacrificing long-term quality.
So far we’ve saved on:
- Painting virtually every wall, ceiling, trim, and baseboard ourselves — painting is high impact for low cost when done with sweat equity
- Refreshing grout and cleaning tile rather than replacing it
- Rejuvenating existing wood floors with refinishing products instead of full replacement
- Scouring thrift stores for budget-friendly furniture finds
- Painting existing interior doors instead of replacing them
- Removing wallpaper in multiple rooms ourselves
- Stripping, sealing, and staining the deck instead of replacing it
- Phase one cosmetic updates in problem areas (removing old carpeting, stenciling floors, updating vanity fronts, and similar projects)
- Small kitchen refreshes like painting and staining cabinets, installing economical shelving, and replacing an oversized microwave with a cheaper vent hood
- Updating a downstairs powder room with paint, a new mirror, thrifted lighting, and art
- DIY closet and pantry organization projects
- Playful, low-cost kid room updates like painted walls, creative doors, and simple decor
We use a hybrid approach: splurge where it improves long-term performance or defines the space, and save where a smart DIY or low-cost update creates a big visual difference. Some investments, like a home warranty or seller credits, indirectly free up money to spend on bigger-ticket items like a roof or furnace. Our guiding philosophy is to invest in permanent solutions when we plan to stay long-term, and to make inexpensive, effective interim updates when a full renovation will come later.
Possible future splurges we’re considering include new kitchen appliances and a gas stove, adding a gas insert to the fireplace, more exterior privacy plantings, higher-end window treatments and lighting, full kitchen and bathroom renovations done thoughtfully, built-in cabinetry in key niches, and converting a set of kitchen windows into French doors to connect to the deck.
Possible future saves we plan to do ourselves when feasible: removing non-load-bearing walls, installing heated tile, building custom cabinetry for offices and niches, tackling transplanting and mulching for landscaping, painting the rest of the home’s trim and ceilings, making energy-efficiency upgrades like LED lighting and added insulation, and repurposing old cabinets for garage storage and a workshop.
When deciding whether to splurge or save, ask yourself four simple questions:
- How long will you live with it? Spend more on items that are permanent or long-term, like flooring or roofing. Save on interim fixes you’ll replace soon.
- How much will it affect daily life? Splurge on features you’ll use and enjoy every day — comfort, convenience, and energy savings often justify higher cost.
- How much wear and tear will it receive? High-traffic or heavily used items deserve durable, well researched purchases to avoid repeated replacements.
- Does this choice define the look of a room? If a single item creates the visual identity of a space (curtains, rods, a standout coffee table), it’s worth prioritizing that purchase.
In short: balance long-term investments with clever DIY and budget-friendly updates. Splurge on what matters most to daily life, longevity, and defining the style of a room. Save on things you can effectively improve with time, effort, or inexpensive alternatives. That approach gives you a home that feels thoughtfully curated without breaking the bank.