How can you create a detailed home renovation budget?

Not going over what you can spend while renovating can be a challenge, but it helps to create a budget.


Not going over what you can spend while renovating can be a challenge. The key to not doing so is to create a budget.

Step 1. Do I need it?

The first step in creating a budget is estimating what things you really need, and which ones are not really necessary, but you would like to have. It is also essential to keep the right order in renovating. For example, don’t buy new kitchen counters if you know that soon you will have to change the floor or the cabinets.

Step 2. How Much Will It Cost?

The best way to estimate how much each aspect of the renovation will cost is to create a spreadsheet. Labour will probably take around 25-30% of the total budget. If you plan on buying from the internet, things like paint, then add the shipping cost to it. When it comes to appliances, add the cost of the delivery, installation, and disposal if you have some old ones.

And last but not least, think about how much will living during the renovation cost. For example, if you don’t have a working kitchen, you will need to eat out.

Step 3. Whose Offer Is Better?

Since you know which things you need and how much you can spend on them, you can now proceed to the final step, which is finding a contractor. Mind you, cheap labor is appealing to our wallet, but it also can cause you problems that will cost a lot of money to repair later on. The contractor can also point out some things that you missed out while creating the spreadsheet.

To learn more about how to renovate your house without getting gray hair from stressing about a budget, check out the infographic provided by Retrodesigns.



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