Yep, we said it … that ‘B’ word that makes many people cringe. But, a remodeling budget doesn’t have to be scary. In fact, having a plan and knowing most of what to expect before you even start actually gives you freedom. Freedom to make wise choices, freedom to design something that fits your personal taste, and freedom to have FUN!
If you are planning any kind of home remodeling project in the near future, here are 5 easy ways you can stay within your budget and make your dreams come true.
Calculate your remodeling budget
This might seem obvious, but some people actually forget this step. Take a look at your expected income minus your anticipated expenses and see what you have available for a remodeling budget. Or, maybe you’ve already been saving and have a nice sum put aside. Either way, smart remodeling begins with knowing the dollar amount you have available to spend.
Determine the scope of work
Where exactly do you want to start? You’ve already decided how much you have to spend. But, if you can’t decide what needs to be done, you won’t know if it fits within your remodeling budget. Here’s where you need to sit down and prioritize what matters most. Don’t forget to think about projects that might make sense to do at the same time. For example, if you want new kitchen cabinets, does it make sense to replace the flooring at the same time?
Choose the appropriate materials and upgrades
One of the most enjoyable parts of a remodeling project is finally getting to put in that one thing that you’ve been dreaming about. For example, have you been drooling over your neighbor’s custom kitchen cabinets and wishing you could have the same? Here’s where you can make that happen! Just do the calculations ahead of time and see what you have the ability to spend a little extra money on. If it fits into your remodeling budget, you’re golden!
Plan for unexpected expenses
As Benjamin Franklin once said, “If you fail to plan, you are planning to fail.” That’s certainly true for many areas in life, but it’s a golden rule in remodeling. There are very few projects that go exactly according to plan. Usually, it’s not for lack of planning. Even the best-laid plans go awry when hidden things show their face. For example, tearing into a wall might reveal wiring that’s not up to code, or a rotten beam – things that just aren’t visible until the work actually starts. Incorporate some extra funds into your remodeling budget and you’ll have a cushion when the unexpected arises. If you have money left over when the project is nearing completion, you can then decide whether to save it or expand the scope of work to include something else you want.
Choose your remodeling company wisely
Unless you’re a professional remodeler yourself, or a serious DIY’er, you’ll want to hire a remodeling company. Choose one that has a design team to ensure that you’re not walking blindly into your project. Design professionals often think of factors that the average homeowner doesn’t. This translates into fewer surprises during the construction process. Before you decide on a company, check out their portfolio, either online or in their showroom. You can tell a lot about the quality of a company’s work by looking at the projects they’ve completed for others.
Put your remodeling budget to work!
If you take to heart all of the tips above, you are setting yourself up for successfully sticking to your remodeling budget. When that happens, you can truly enjoy the finished product because it won’t have created financial strain as you were pursuing your dreams. Get started today by giving us a call at (949) 861-3400.