Tips for Planning a Home Renovation Budget

There is more to planning a house renovation than just fixtures finishes and fabric swatches. Do not underestimate the expenses involved, and plan ahead with the best budget. It can keep you a lot of problems and wasted money in the end.

Make a full plan

If you go into a renovation with nothing more than an unclear idea of what you want, you cannot truly have the best sense of what it is going to cost you. Knowing that want to update the bathroom is not sufficient. Do some shopping a pick a specific counter-top, toilet, sink, and other fixtures before you start. Do not settle for guesses or rough guesses either. Actually check on the prices, either at the store or spend some time at the store’s site.

Get more than one contractor quote

For works where you hire a contractor, get more than one quote if you can before you start. Do not think of it just as a way of finding the affordable deal, but also a clever way to gauge the cost of the project.

And while on the subject of contractors, be sensible when planning whether you are better off performing a project your own. A quick glance, it might seem that you can keep money by doing things yourself, and while that may be rightly true, you should be honest with yourself about your expertise. Little jobs can fast become expensive disasters if you are up for the job. Match your quotes between contractors as well as with your own personal guesses before deciding anything.

Guess the unexpected

Nothing ever goes to plan and even the easiest renovations can have unexpected bumps in the road. Some may just be time-wasting, and others may mean further expenses. While it is mostly a problem with a DIY project, there can be unplanned hiccups even when working with a seasoned expert.

Write it down

You do not need to learn any big accounting, but an easy list of expenses with some totals is vital. Preferably in a more perfect way than on the back of a napkin.

Using a spreadsheet can make the math pretty easier, and you can continually adjust it as items are paid for it. It is a lot simpler to view where costs are going as the work is going on so you do not end up with a big shock at the end when you understand you have gone way over budget.