Preparing a budget for home improvement can be tough. There are several factors that affect how much you might spend, from the cost of labor to other important details. What’s important is that you allot an amount for every aspect of the project and be committed to those costs until the project’s completion.
STL Design and Build, your local full-service residential remodeler, shares some expert tips to help you plan a budget for your renovation project.
Two Things to Consider
Before you plan for your kitchen remodeling project, check your finances to determine how much you can afford to spend. Also, see if moving out of your current home is in your future plans. Spending too much on a renovation may not be practical, especially if you are expected to leave after three years.
Write Down Your Priorities
With so many materials and colors to choose from and different appliances and fixtures to invest in, you would be hard-pressed to know what you really need for the project. As an experienced home remodeling contractor, we suggest writing down your priorities. In doing so, you can still get them done whenever unplanned-for expenses hit your budget.
Prepare for the Worst
Unexpected costs and other project-related issues could come up at any time during the renovation. They can ruin your budget, especially if you haven’t prepared something extra while budgeting for the project. It is always a good idea to set aside finances to cover sudden expenses. About 10% to 20% of the entire budget would be sufficient.
With your budget already planned, the only thing left to do is to work with a reputable contractor for your kitchen renovation project. At STL Design and Build, our design specialists will work with you to create a space that combines functionality with taste and cost.
We also offer other home improvement services, including deck design, bathroom remodeling and window installations. Give us a call at (314) 736-5800 to get started. You may also fill out our contact form to schedule a free estimate.