Tips for Staying On A Budget During Your Home Remodeling Project

Tuesday, August 29th, 2017 by Danny Peterson

Giving your home a makeover is one of the most satisfying things you can do as a homeowner—and if you do it right financially, a home renovation or remodel could add a lot of value to your home.

Of course, the financial benefit depends on how much you spend during the renovation process and what type of renovation you choose. Some Remodeling projects give you a higher home appraisal value than others. You need to start with a budget and stick with it. Otherwise, you’ll end up spending more than you expected and not necessarily getting an appraisal value that approximates the extra cost. So how do you make it work? Follow these tips:

First, respect the current blueprint of your home. If you know you are going to be utilizing the current layout, you can minimize costs. Usually, the most expensive part of a remodel is taking out existing walls, doors, or ceilings and replacing them with new ones. While it isn’t uncommon to complain about the layout, one of the best ways to stay in budget, is to keep yourself grounded and not get too carried away.

Next, think about reimaging your furniture before simply deciding to replace it because of a home renovation.  You might not need a new couch or dining room table, maybe you just need a new cover for the couch or a fresh finish on the table. If you think about your existing belongings this way, you could get the best of both worlds. Your furniture will look and feel new, and you will save money.

Finally, when considering your budget for a home remodel, think about what parts of the project you can do yourself and what would require you to hire a contractor. Taking on certain parts of the job can save you money – so long as you feel confident and can do it correctly. A good rule here is to talk to a contractor before getting started, to receive an expert opinion.

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