As a homeowner, you know that the connection between a person and their home is a strong one. It’s the largest investment most people will ever make, and where you make some of your fondest memories with the ones you love most.
However, just because you love your home doesn’t mean you love everything about it. And in fact, most homeowners want to make a change here and there. A whopping 90% of homeowners are in the process of planning a home remodel as we speak.
When you’re planning renovations to your home, the first thing you need to do is create a budget. But budgeting is tougher than it seems! To learn a few tips to make building a remodel budget simple, just keep reading.
Because you love your home, it’s easy to see it for more than it’s actually worth. But when you’re planning renovations, it’s essential that you set the rose-colored glasses aside.
Every home has a set value, along with every room and renovation project in that home. Spending more than your home is worth on a remodel can cause you to lose money down the line, should you ever decide to sell.
Research the value of your home, as well as the value of various projects, before you make a remodeling plan.
Choose Contractors the Right Way
Choosing contractors is one of the most important parts of a remodel, as it can drastically change your remodel costs, as well as the final product. The first step is to ask friends or family members for recommendations.
When you have a list of potential candidates, it’s time to start the interview process. Don’t be afraid to talk to as many contractors as you need to feel confident in your choice. Even a company like Higgason Homes, which has a wealth of 5-star reviews, should be interviewed before hiring.
Have a Contingency Fund
When you’re planning renovations, you should be as organized as you possibly can be. But even the most organized homeowner is bound to run into an unexpected cost or two throughout the process.
After all, you never know what you’re going to find within your walls, ceiling, or floors. And unforeseen problems are practically a guarantee. To prepare for unexpected costs, set aside 10-20% of your total budget as a contingency fund. If you don’t have to use it, fantastic!
If you’re looking for a way to save some serious cash on your remodeling project, DIY is always an option. By doing some of the tasks yourself, you’ll only be paying for materials, avoiding the high price tag that comes with labor.
Now, there are certain things that should always be done by a professional, such as plumbing and electrical work. However, simpler jobs such as painting walls, tearing up old carpet, or tiling a backsplash can easily be done DIY style.
Making a Budget is Key to Planning a Home Remodel
Planning a home remodel is an exciting but incredibly overwhelming process. There are so many moving parts that it’s easy to make a misstep along the way.
Because of this, it’s important to get and stay organized. Staying on top of your budget and everything else that comes along with a remodel will make this huge job feel much simpler.
Looking for more home remodeling tips and tricks? Be sure to check out our blog!