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Create a Home Remodeling Budget that Works

 

Creating a budget for your home remodeling project can be tricky, because you will want everything to be perfect when the work is finished. However, perfection to you might mean having the design, details, and materials that you want without even considering the cost.

4a296100b5ca8e1de017a64aa2db7e39Here are 5 things to consider when creating a budget for your remodeling project:

  1. The first thing that you need to decide when you are starting a remodeling project is how much work you really need to do. Your budget will be much lower if you only need to repaint the walls, replace a few light fixtures, and get some new furniture. It will be much higher though if you need to completely redo the entire room.
  2. We recommend that before you decide on any materials for your remodeling project that you figure out the cost of labor for your remodeling project as well as the cost of permits. If the labor is going to cost almost as much as your budget allows, you may need to make some changes before the project even begins.
  3. Your contractor will be able to make suggestions when it comes to the materials for your remodeling project. If you really want hardwood floors, but the price does not work with your budget, your contractor can suggest substitutions that will work and look just as nice.
  4. Do your own research on the materials that you will need for your project. You may find that certain stores will have lower prices than others for the materials that you want and that knowledge will allow you to save some money if you are doing the work yourself. However, if you are using a contractor, you will want to let them get the materials, because most of the time they can get everything at a discounted rate.
  5. Before you finalize your budget, you will want to make sure that you have money for any unexpected issues that may arise during the remodeling project. We recommend that you keep between twenty and thirty percent of your budget available for costs that may occur from these issues.

You may want everything to be perfect after your remodeling project, but you need to keep your budget in mind. It is not a good idea to spend double the amount of money that you can afford on a project, especially since you may not get all of that money back when you sell your home in the future. There are many ways to make your home beautiful without spending a fortune, by simply using materials that are still good quality without costing a fortune.

Give Bart’s Remodeling a call at 312-714-5454 if you’re in Chicago or the surrounding areas and would like to discuss remodeling your home with us. We’ve helped many Chicagoland homeowners customize their home to fit their lifestyle. Take a look at some of our basement, kitchen, and bathroom remodeling projects and give us a call to schedule an appointment.

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