10 Tips for Budget Planning for Home renovation

10-tips-for-budget-planning-for-home-renovation

It’s easy to prepare for a home renovation project. Making a budget is the first step! There are plenty of home renovation programs that provide valuable tips and advice on your budget, time management, and health. And the best part? Most of them are free or have low cost entrance fees! 

Here is a list of ten ways you can use in order to plan for your next renovation project with ease 

 

  1. Get a little help.

A contractor or handyman who specialises in home renovations will save you time and money by sharing his knowledge of the process and helping with the proper selection of materials.

 

And if your budget is tight, consider hiring a part-time person to assist you. Half an hour every day is all it takes!

 

  1. Set up goals and rewards.

Before you start on your renovation project, make sure to set realistic goals and rewards for yourself.

 

For example, if you plan to paint the house and change out all the furniture in one month, then your reward will be  wasted money and time.

 

  1. Learn good practices.

It’s important to learn good housekeeping and repair techniques, especially if you’re planning on painting or refinishing woodwork.

 

Think about the importance of using proper products for cleaning and dusting and ask for suggestions from your contractor or handyman.

 

  1. Create a budget.

A budget is a plan for spending. You can write up a plan for your next home renovation, but never take it too seriously.

 

It’s important to always stay flexible and change your priorities when necessary. 

 

  1. Learn from others’ experiences.

There is a wealth of information about home renovations online for you to learn from – blogs, articles, and home renovation programs are available full of valuable tips and advice on budgeting and completing your project on time!

 

  1. Involve the family and friends.

Try to involve family members, friends, and neighbours so that your project runs smoothly and you’ll be able to get their help when you need it most.

 

  1. Get a quote from more than one contractor/shop.

Scout the market for contractors or shops that offer home renovations at competitive prices before you commit! 

 

That way, you’ll be sure to choose the right service provider – one that won’t leave you with unfinished work or a bad reputation!  

 

  1. Ask for help.

There is a lot of free renovation information online, but you should take advantage of pre-recorded videos, blogs, and DIY websites to gain more knowledge about the home renovation process.

 

  1. Learn from mistakes!

You’ll most likely make mistakes on your own when you’re doing home renovations, but it’s important to learn from them so that they don’t become a habit! 10. Seek advice whenever needed.

 

  1. Specially for our subscribers we show you additional tips that are prepared by our expert:

 

  1. Start by making a rough estimate of the total cost.
  2. Create a detailed list of all items that you need to buy and their corresponding prices.
  3. Make sure you have enough to cover the purchase and installation costs for each item on your list.
  4. Add up how much money you’ll need for these items, including building materials and items you will reuse from the renovation, such as tile or cabinetry.
  5. Draft a budget to help you stick to spending the money and stick to the budget.
  6. Use a spreadsheet program, such as Microsoft Excel or a free open source program called Google Docs to keep track of your spending.
  7. Have someone else help you keep track of your purchasing and installation costs so that you’re not tempted to overspend.
  8. Check out local government websites for free materials, such as free lumber and plumbing fixtures.
  9.  Make a list of city and county building code requirements, such as the minimum height of studs and the minimum number of ceiling joists.
  10. Install a home inventory system to keep track of all your possessions.
  11. Take good care of your home’s plumbing, electrical, heating and air-conditioning systems before you start remodelling.
  12. Keep records of all work performed so that you can document what’s needed for moving or for future repairs or replacements.
  13. Be sure to remove any old light fixtures and replace them with new ones before you start remodelling.
  14. If you plan on using used windows, waterproofing and cleaning them first.
  15. Watch the video below for a detailed explanation of how to budget for home renovation.

Norman Dixon

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