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Budget. This is probably one of the most-discussed topics during an initial design meeting, and we understand it because it is essential. You didn’t just throw out a number because it sounded good; you picked it after carefully considering your finances. This is why we take the time to review your options to ensure that your budget stays on target. We want to discuss some helpful tips to help you finish your renovation on a budget.
Planning
While this may seem obvious, it’s easy to get caught up in the excitement of a renovation and rush headfirst into the project.
- Know where you are going: this is one of the first things you will want to do when considering a renovation: to know what the end goal is. Think about your space and the layout you want. Is it possible to have it within the square footage you already have? Is it possible to reconfigure or add on? How much would it cost to relocate plumbing or electrical systems? Knowing where you want to go will make it easier to plan your route.
- Ask questions: The planning stage is the best time to ask questions. What will this space be used for? How many will use it at one time? Does it need to be multifunctional? Sit down and write a list of questions before going to your design meeting to prepare.
- Please do your research: it is always wise to look around at what others have done and how they did it. Check out construction websites or look at similar renovations you want done to your home. By doing this, you can get a good feel for what will be involved in your renovation.
Moving forward without proper planning is like going on a trip without knowing where you are headed, and it will leave you feeling frustrated. When you take the time to plan, you will save time and money later, ensuring you have a renovation you will enjoy. Learn more about our project planning process here.
Stick With The Plan
We know it is easy to get caught up in the excitement of transforming your space, especially during the selection process, but staying on track with the plan is key to the success of your project. Here are some ways to ensure you stay on track.
- Selection: only look at items within your price range. For example, when you determine the amount you can spend on hardware, search for pieces within that price range. This works well for countertops, flooring, and backsplash.
- Extras: Sometimes during a renovation, you may think you need to upgrade your backsplash to a custom-made one or your countertop to a unique material. While these options are excellent, they also have a price tag that can jeopardize your budget. Try to avoid these upgrades if they are not within the budget.
- Keep the goal in mind: remember what you are getting: a brand new space that you and your family will enjoy. Sometimes, the end goals can get lost in the journey, but we promise that sticking to your plan will be worth it, so hang in there.
A good plan is only as good as following through, which is one of the reasons you have us. We promise that your plan will guide us; it will help us ensure we provide you with precisely what you need.
Factor In A Surprise
It’s no surprise that the unexpected can happen even with a well-planned renovation; life seems to enjoy keeping us on our toes. That’s why it is essential to include a cushion or contingency in your budget. Most agree that it should be between 5% and 10% of your overall budget, which means you can still be prepared for the unexpected and minimize any renovation disruptions. Read what Dave Ramsey has to say about a renovation budget.
Finish Strong
A renovation is an exciting time; you are getting ready to give your home a beautiful upgrade, but you want to make sure it is within budget. By choosing to work with us, you are not only getting a fantastic product but also our extensive experience. With over 1500 projects under our belt, we can assure you that your home is in the best of hands. We take your budget seriously and will make sure you finish strong. Give us a call today to set up your design appointment. Let’s get started planning your project.
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