Home Decor

5 Tips For Creating a Home Remodel Budget

Every now and then, we decide it’s high time we remodeled our home or even one room in it. However, problems can arise with this decision. Most of us struggle with the budget – we have a lot of wishes but our finances limit us. In order to stick to the right choices and not spend too much money, here’s how you can have a successful and pretty cheap remodeling project.

1. Create a realistic budget

The thing with our budget is that we first need to create it, and be realistic about it. The first step is to be aware of how much money you can really spend on the works before you start planning and designing the space. The easiest way is to create a spreadsheet and make a list of everything you would like to buy, like the lighting, faucet, tile, appliances etc. You will have to make some calls to get quotes on every item on the list and to include professional help in the spreadsheet. When you’re done, it will be obvious where the most of the money goes and which items you should remove from the list. You can also opt for cheaper materials in some cases. Finally, add 10% to the budget. It will cover the unexpected expenses, which almost always happen.

2. Reuse materials

This is a way to save a lot of money. Some appliances and cabinets in your home can be reused. If you really feel you need new cabinets or a new layer of paint, you can still save money by refacing the doors. It will change the style completely. You can also change just the door and leave the cabinet body. It will still look like you made a big change.

In case you can’t find anything in your home that you can reuse, there are still salvage yards you could visit and look around. You can also try on buy/sell/trade websites, where many people sell perfectly kept appliances because they are in a hurry. It can be really exciting and may even help you get new ideas for the whole project.

3. Know where to ask for help

You can get help in various forms and you shouldn’t avoid it. Maybe you feel you can DIY, but if you mess it up, you will have additional expenses because you’ll have to hire a professional to fix it. On the other hand, if you have friends who are electricians, for example, or those who have already successfully done a remodeling project in their homes, turn to them.

Also, don’t get money gets in your way if you really need to do remodeling. Many people realize their budget is too small and won’t be enough for the necessary changes, so they opt for home renovation loans at Our Money Market or similar companies. That way, they can ensure completing all the necessary works.

4. Be specific about your preferences

In case you want quotes from contractors, you may get a lot of different estimations from each one of them. The reason behind this is that you probably haven’t provided them with enough specifics, so they had to fill the holes with their own guesses. As you have a budget you need to stick to, the preferences will help you get so precise that the only differences in the quotes will be the variants in labor costs and fees. It will help you identify which changes you should give up on. In order to get a precise quote, you need to know every detail you want to introduce, every material you want to use and the new layout.

5. Opt for classic solutions

This approach may not save a lot of money at the very beginning, but it’s a smarter option in the long run. The thing with the modern solutions, furniture and decoration are that you can quickly get tired of them and you won’t have the means to change them so soon. In other words, don’t go for the bold and unexpected choices here if you think it’s a temporary whim. Maybe subway tile in the kitchen is an obvious choice but it will sure look good and be modern for a long time. It goes well with various items and you won’t have to change it for many years to come. If you want trendy home items, make sure they are small and easy to replace. The bigger changes in the project better be classic.

Final comment

With a realistic budget, thorough research and carefully planned steps, you can easily make significant changes and not spend too much money. As long as you don’t rush with the works, you won’t risk spending too much money unnecessarily. And you will make good decisions that ensure quality remodeling.



Leila Dorari

Leila Dorari is an entrepreneur and freelance writer from Sydney. She’s passionate about home improvement and living better lives by nurturing our surroundings. In her free time, you can find her window shopping or exploring new ways to make her life more meaningful.

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