When planning a home remodel, the first step is to set a budget. However, when you get started picking out your subway tile backsplash, granite countertops, and stainless steel appliances, it’s easy to overdo it. According to Houzz, nearly 46% of home remodeling clients surveyed in 2017, went over their set budget—some as much as 25%!
Don’t have any wiggle room in your home renovation budget? Want to stick to a strict dollar amount? Here are 4 ways to avoid overspending and keep your Fort Collins home remodeling project within budget.
Creating a budget for home remodeling projects planned on a whim isn’t easy. Giving yourself enough time to think through what you want and how much you actually can afford is an important first step. The absolute best way to keep under budget is to plan out every detail ahead of time. Sit down with your home remodeling contractor to get estimates, then choose colors, styles, materials, and more before construction begins. Budget issues come into play when homeowners are forced to make quick decisions under the time-constraints of a construction zone.
When it comes to home remodeling, don’t make any assumptions. Make sure you get clear, concise, and complete information from your designer and contractor. Always ask for price upfront and have your plan ready to review with them. Then, keep up with your contractor and designer throughout the process. Not communicating often enough can lead to misunderstandings about what you want—and, in turn, can lead to added expenses when adjustments are needed after the walk-through.
It’s a bit silly to assume that your home remodeling project will go off without a hitch. To create a cushion for yourself, add an ‘additional expenses’ column to your budget. Should any problems, big or small, arise—like not being able to find the exact tile you requested or discovering a major structural issue—you’ll be able to cover the cost. Ideally, experts will tell you to allocate around 20% of your total budget to an unexpected turn of events. (On the plus side, if nothing unexpected occurs, you’ll be underbudgeted and in a better financial spot!).
When you go to remodel your home, you might have lots of dreams and ideas about the final outcome. However, when you’re on a tight budget, you need to be willing to make some sacrifices. For example, let’s say you’ve always dreamed of granite countertops in your kitchen. When quoted the price, it’s astronomically over your budget—and you have an entire kitchen to finish. You need to make sure you are comfortable with making compromises on these material types, flooring styles, or appliances installed. The best way to handle this? Allocate funds for the items you really, truly want, but also have a list of things you’d be will to budge on if needed.
Ready to for a home remodel near Fort Collins, Denver, or Boulder? The team at H3 Construction and Design is always ready to help you build the home of your dreams at the price you can afford. We take on projects of any size and have been called one of the best home remodeling companies in Northern Colorado—give us a call today at 970-515-2264 or contact us online to learn more!
Located in Loveland, CO, we also serve homeowners throughout Fort Collins, Ault, Greeley, Denver, Windsor, Boulder, Longmont, and the surrounding communities in Northern Colorado.
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