Starting on our second house! My husband and I do a lot of home renos. Recently we sold our first fixer upper, which took us 3 years to completely redo. We bought it, knowing it needed a lot of work. We worked our buns off, building a huge deck, re-doing the siding, bathrooms, and the kitchen. My favorite job was putting stones on the fireplace! We replaced all the flooring all the doors and fixtures. It cost us a lot of money and took a lot of time that we didn't really have, but in the end it was totally worth it. I found that through out the reno process I became really big on trying to save money during renos, and here a few tips that I followed to keep costs down!
Do as much as you can yourself, demo, cleanup, rebuild...Any help you can contribute creates less work for you contractor, which in turn saves you money!
If you can't do it yourself make sure that you get 3 least
If you hire a contractor ask if you can buy the materials yourself, you may find sales that they may otherwise could have missed
Always budget at least 20% above your quote, for a can of worms!
Think green-it may cost more now, but will save you money long term, and the environment too!
Shop around there may some specialty stores that will offer you a discount if you buy your toilet sink and tub all at once, or may through in delivery.
Watch out for "no payment / no interest" credit cards. Read all the terms and agreements, because this can really save you money. Especially if you planned on putting it on you line of credit anyways!
Check out online for auction clearance centers, they often have new stuff that came from a store going out of business.
Try to buy the things that you love, because they are your taste not whats popular now. Otherwise you will end up having to replace it as soon as it goes "out"
Just remember, have fun during your reno because this too shall pass!
Good luck, and happy renos!