When doing a home remodel, creating a budget is very important. Without a budget, it is easy to overspend, or splurge in some areas, cutting you short in others. Here are a couple ideas to help you when figuring out your home remodel budget.
Create a plan: Lets say you are planning a kitchen remodel. Look at all of the items you want to replace, or keep. For anything that you want to replace, this is the time to research the price of those items (cabinets, countertops, light fixtures, appliances, hardware, flooring, etc).
Add in the quote you receive from your contractor. When working with Crew Construction and Restoration, we provide you with a quote, which includes plumbing, electric, design, etc. When working with independent contractors, you will need to get a quote from each, and add those into your budget.
Create an Allowance for the Unexpected: When it comes to any project, you want to financially prepare for the unexpected. Set your allowance to be approximately 20-25% of the overall budget. If everything goes smoothly, this will be extra money that you can save, which is a win. Or put that towards something on your remodel ‘wish list’.
Revisions To Your Plan: If the final budget is more than you were planning to spend, look for areas you can save. You can move some of your plans over to your ‘wish list’, for example, kitchen backsplash or shiplap wall. Once the project is complete, you can come back to your wish list, if budget allows.
If your cabinets are in good condition, consider refacing them instead of replacing. You can still switch out countertops and have a fresh new look! Look at a more affordable option of appliances, flooring or lighting. Depending on your skill level, tackle some of the project yourself, like demo, clean-up, painting or floor installation.
Hire Professionals: When hiring someone for the project, ask for their credentials. Do your research and get multiple quotes. When you hire someone without the experience, you can find yourself spending more in repairs to get the job done right.
If you are ready to tackle your remodel, give Crew a call. We take pride in every job we do! Our team will do a free analysis and provide you with a quote for the overall project and make adjustments where it’s needed. Need financing? CREW makes it easy for you to find monthly payment options for your project.