Staying On Budget During Your Remodel
One of the most significant concerns we hear from homeowners during a remodel is, “How are we going to stay within our budget?” In fact, money is the number one reason why people do not begin their dream remodeling project or why those projects stop halfway short of the goal before the work is complete. Fortunately, we’ve provided tips that can help you stay on budget during your remodel.
Build A Cushion
Too often, we see homeowners who stretch their budgets thin, not leaving themselves enough money for unexpected costs. When completing a remodel, it’s a near certainty that something unexpected will come about. For example, when knocking down walls, you could discover that the wooden support beams behind the wall have dry-rotted or the pipes in your bathroom have rusted considerably.
You should build a cushion into your budget so that you won’t have to scramble to find additional funds. We recommend that the buffer be at least ten percent, if not more. So, imagine you have determined that your budget for a remodel will be $20,000. Instead of allocating the entirety of the fund toward the project, only plan to spend $18,000.
Leave $2,000 stored away. When surprises happen, you know that you’ll have funds available to cover the costs. If there happen to not be any surprises during the remodel, you’ll have a couple thousands of dollars already saved for your next remodeling project!
Stick To The Plan
Once they begin the remodel, homeowners often get caught up in the moment and want to add more to the project. At Cardigan, there’s a saying that we urge homeowners to avoid while remodeling: “While we’re at it.” When you start straying from your plan, it’s easy for costs to add up quickly.
You should come up with a detailed plan before you begin your project and make efforts to stick to it throughout the remodel. After you’ve completed the initial plan and have funds leftover, you can consider last-minute additions. But while in the moment, stick to your plan if you wish to stay on budget.
Shop Bargain Appliances And Wares
Another way to ensure you stay on budget during your remodel is to purchase appliances and wares from second-hand stores or salvage yards. Purchasing brand new appliances and wares could cause your costs to skyrocket. You can find things such as bathroom vanities and fireplace surrounds in a second-hand store to help you stay within your budget. Plus, implementing these into your design could result in a rustic or antique theme, providing character to your remodel.
Hire A Contractor
If you’re concerned about staying on budget during a remodel, hiring a contractor like Cardigan Kitchens & Baths could go a long way. Professional contractors are an investment in your remodel, as they could maximize efficiency and help your project run more smoothly. We can also help you come up with a budget and help you stay on track throughout the remodel.