Remodeling 101 Part 1 Budgeting and Planning Remodel Budget Analysis

Project PlanningRemodeling 101 Part 1  Budgeting & Planning

Setting a realistic budget

Does remodeling your kitchen and bath seem so intimidating that you are not sure where you should begin?

Do you want to remodel but can’t get started because you know you must stay within a certain budget?

Whether you are planning a kitchen or bath remodeling project, or some portion of that, the questions stated above are the common obstacles that keep many people from taking on what may seem like the daunting task of getting the process started.

It has been our experience over the years that most people want to know what the overall project will cost before they start.  If the project is out of your total budget then you may have to re-evaluate what you can realistically afford or make decisions on how you want to spend the funds you have.

Not so fast…  

Cabinets are probably the first thing most people think about when remodeling a kitchen. Cabinets can be a major portion of the expense of a kitchen remodel but not necessarily the most expensive. Most people don’t realize what cabinets, countertops and appliances really cost. Discussing these topics with a professional will help you make the most of your budget by explaining the different options and the cost of each.

How we integrate this into our process.

Getting a ‘budget analysis’ is the first step we like to start with to help our clients narrow down expenses for each part of the remodel task. We determine the products that are needed and the amount willing to be spent on them.

-calculator-webWhat is a “Budget Analysis”?

A budget analysis will give you an idea of what the scope of your project will cost. We have found that this method is very beneficial for all of our clients. We simply take some preset formulas, add them with measurements in your home and then discuss each element of the project with your preferences to determine an estimated cost.

So how exactly does the Budget Analysis work?

For starters we will need to know some simple things, we ask A LOT of questions. Are you keeping your same cabinet layout or starting with a fresh plan? Do you want to remove walls to open up your space? Are any of the walls that you want to move load bearing? Are you wanting to add a new addition to your home?

Determine how to spend your budget.

Another area of important topics that we will ask; What is the purpose of remodeling? Are you remodeling to sell? Is this your forever home? Are you updating to get newer appliances? What is the value of your home? This will help determine what your budget levels should be.

As an example, Walker Woodworking offers 3 types of cabinetry; basic-standard cabinets, semi-custom cabinets and custom cabinets. The price difference can vary from 30% to 50%. If you are updating your kitchen in order to sell in a couple of years, you may not want to spend your budget on custom cabinets. 

Other options; you can mix and match cabinets. Let’s say you have a fairly large kitchen or you want to splurge on appliances. You can spend less money by purchasing semi-custom cabinets and have a custom hood built. There are solutions for most situations. We help our clients get the most out of what they want to spend while making their space functional and unique to their lifestyle.

Are you overwhelmed yet?

Don’t be overwhelmed by all of the questions. People remodel for many different reasons. By determining what your goals are will ultimately help you determine where you should invest your budget. As professionals of our industry, we are here to help guide you along the way.

At our very first meeting with our clients we discuss budget. By asking questions and taking some simple measurements, we will leave you with a budget we feel is a close estimate of your project. Is it exact science? Of course not, but we are usually within 8% of the actual cost. This process can take up to 2 hours or more depending on the scope of the project.

Don’t be discouraged by the numbers, there are always ways to save. Once you make your final selections you still have plenty of ways to decide what you want to spend your money on.

Once you have settled on a budget that you feel comfortable with, it’s time to make selections.

NEXT ~ Making selections is our next phase of the remodeling process.  Let’s see what that entails.

Tell us what you think, was this article helpful? We would love to have your comments.

6 replies
  1. Jan Blanton
    Jan Blanton says:

    Thank you for this educational information. It has been very helpful to me. I recently did my own remodel and wished I had this information prior to my remodel.

    Reply

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