5 Tips for Choosing a Remodeling Budget
1. Know your current bills. It is very important that you know what you spend each month prior to adding a remodeling bill. If you are not already certain of what amount of your income you spend each month you should come up with a budget and figure out exactly how much more money you can afford to spend each month. This amount is how much you have to put towards a home remodel.
2. Determine what you want done. If you don’t know what you want to accomplish with this remodel you will have trouble determining how much you are going to need to spend. A lot of times doing a full home remodel is not feasible all at once. It is important that you are able to break it down to exactly what you want done, and the level of importance in completing the different aspects of the project. You may want new windows before new flooring for example.
4. Be honest about your budget. Once you have chosen and hired a company to help you with the remodel you need to be honest about your budget. If the contractor thinks you have $20,000 for your bathroom remodel and you can really only afford $10,000, this is going to be a problem.
5. Be realistic! Once your budget has been planned and you have looked into different companies to hire it is crucial to take a step back and say “can we really afford this right now?”. If the answer is no, put off the remodel until you can save up some money and have a larger budget to make your dream remodel possible.