Tips To Help Stay On Budget During A Remodel
One of the most looming fears of a remodel is going over budget. However, many homeowners don’t realize that staying within their budget is easier than expected, especially if they take time to plan beforehand and stay disciplined throughout the process. Don’t believe us? Below, you’ll find a few tips to help you stay on budget during a remodel.
Stick To Your Home Remodel Plan
A massive mistake that homeowners often make during their remodel is deviating from their plan. If your goal is to stay on budget, you should not stray from your original plan. When you begin to roam, your costs will start to skyrocket. Deviating from your plan is one of the quickest ways for you to exceed your budget. To help with this, you should be very thorough in the planning that occurs before the remodel. Consider details such as:
• Light fixtures
• The knobs you’ll use on drawers
What may seem like small expenses could add up quickly if you’re not careful. For that reason, it’s better that you are overly-detailed before you begin. When you are happy with your project design, you’ll be less likely to deviate from the script.
Incorporate A Cushion
One of the most significant problems that homeowners make during a remodel is stretching their budget too thin. Odds are, there’s likely to be some surprises along the way during your remodel. If you do not have a “nest egg” or cushion set aside to account for these expenses, they could quickly put you in dire straits. Depending on how big the surprise is, you’re likely going to have to purchase new project materials or call a contractor to save the day.
You should look to build a 10 to 15 percent cushion into your budget. So, if your budget is $15,000, you should plan project expenses to equal $12,750. You’ll then leave yourself with a 15 percent buffer of $2,250. The best-case scenario is that you won’t have any surprises and you’ll have some money left over! But, if something unexpected were to arise, you can rest assured that you would have the funds to cover the emergency.
Don’t Be Afraid To Bargain-Hunt
You should not be afraid to go bargain-hunting when remodeling a kitchen or bathroom. You never know where you may find a fantastic piece that fits the ambiance of your home perfectly. Not every item or appliance in your home needs to be brand new. Consider going to second-hand store or salvage yards to find some pieces.
Professionals Can Help With The Financials
If you’re worried about going over budget during your home remodel, contact the local experts at Cardigan. Working with a team of professionals can be a wise investment, ensuring that your repair is done the first time correctly. We’ll take the time to get to know you and gain an understanding of your budget so that you can stay on track throughout the entirety of the process. Be sure to contact us today to learn more about how we can help!