How to Keep Your Home Remodel Under Budget
The biggest nightmare for any home remodel is the project that begins to change your home, but will only be finished for double what you had originally anticipated. Here are some easy ways to make sure that your home remodel stays under budget:
- Build in a 20 Percent Cushion into Your Budget
Because it’s rare that any home remodel goes 100 percent smoothly, renovators are recommended to build in a 15 to 20 percent cushion into their expenses for a more realistic estimate. There are always unnecessary, unforeseen expenses (especially when remodeling an older home) that contractors simply cannot plan for ahead of time. By building in this extra cushion, homeowners can plan ahead for the unplanned and not end up having to make any unplanned sacrifices for their dream home remodel.
- Stick to the Plan!
Many times, homeowners begin projects only to change their mind halfway through, once they start seeing their plans become a reality. At this point, changing plans is much more expensive. Homeowners can seek to avoid this problem in several ways. First, homeowners should “do their homework.” By consulting with interior designers, contractors, home improvement stores (and even friends and neighbors), homeowners can come into the project with a more fully realized idea of what they want out of their home remodel. Second, homeowners and contractors should set clear expectations of each person’s responsibilities and the project’s progress. Lastly, and most importantly, homeowners should avoid “While you’re at it…” and make sure to stick to their plan! A lot of little changes can quickly add up and push a project over budget.
- Look for Bargains
Don’t be afraid to look for bargains when remodeling your home! First, a great way to get a bargain is to ask the contractor if he has any good connections or can secure any good deals for raw materials. Second, a lot of money can be saved by keeping older furniture and fixtures and just refurbishing them. Lastly, by choosing standard sizes and models a homeowner can avoid the much more expensive option of having it all custom-made.