No one likes to cut a budget, especially when it’s his or her own. But when it comes to planning a remodeling project, homeowners must establish a realistic budget . . . and actively manage it.
Preparing for a remodeling project is a lot like preparing to buy a car. You may know the room and style you want, but the options you choose may drive the price higher than you can reasonably afford. But there are ways to stretch the remodeling budget and end up with stylish results within budget.
- The most important step is finding a professional remodeling contractor for your job.
- Hire a professional contractor such as Leading Edge Builders who is familiar with the building codes in your area. Updating work that does not meet code can be extremely expensive.
- A well–written contract can prevent costly mistakes or additions to the scope of your project. It is a critical step in maintaining your budget.
- Save money by planning ahead. Go through the design process first and choose everything you want to include in the new room(s), from appliances to light fixtures, etc. This will define your budget and prevent hasty (and costly) decisions later in the project. Be sure to include all your product and material selections in the contract to avoid confusion and unnecessary change orders. Include the model, size, color, and other specifications. It is also wise to save 10–20 percent of your budget to allow for items added to the scope of work.
- The number one way to decrease the cost of your remodeling project is product choices. Look around to determine whether you can achieve a similar look with a less expensive product.
- In addition, pay attention to how labor intensive some design features may be, for example laying ceramic tile on kitchen countertops and the backsplash.
- Compare products and their prices carefully before you make final decisions. And keep an open mind when you discuss product and design ideas with your contractor.
- Make decisions based on value and quality, not just price.
- Think about staging the work being done to minimize the initial financial impact. It is often easier to create a more manageable budget by starting small and adding to the project at a later date. This will break the work into several jobs instead of one large project. The down side of staging a remodel is that you may end up paying more in the long run.