Home Renovation on a Budget
When many homeowners begin to entertain the idea of renovating a home, they have no idea where to begin. One thing is certain; it’s essential to begin with a budget.
To begin, it necessary to determine needs vs. wants. Upgrading those out-dated appliances may be one thing, but what about granite counter tops? Can you live without those?
Secondly, it’s important to determine how long a renovation project will take. Can you afford or do you want to be out of your home for six months or more? Smaller projects spread out over time might allow you to budget less while learning how to estimate the costs, labor, and materials. Most homeowners come to realize that building in a financial cushion will be necessary. For most, renovations take more time and money than initially thought or planned. So it is important to plan accordingly.
Hiring a professional to help with estimates can save countless dollars in the end. If you are not experienced in construction and renovation, a professional can assist in the setting of realistic goals.
Take a few minutes to sit down and scan your contacts. Perhaps you are acquainted with, or even related to, an architect who will come and offer expertise. Schedule time with your trusted family plumber and electrician, share your ideas and garner their input. Combine your research, notes, advice and tips, and create an outline that can guide your plan along the way.
Once a schedule is sketched out, begin to list the items that you, along with family and friends, can do yourselves. Perhaps you can paint and tear down a wall, or sew new linens, curtains and throw pillows.
If you have a friend with a talent for interior design, invite them over and look at everything you own that can be repurposed, repaired or reconfigured. Measured all spaces, windows, walls and more and make notes.
Last but not least, create a master list of all items, along with the measurements, as well as a wish list that can be kept in your car. Begin watching for sales and discounts as well as asking store managers about best times to purchase. Upcoming weekends can now be spent visiting thrift stores and yard sales. Appliances can be purchased at the scratch and dent and tile and flooring may be found at the discount supplier in town.
This organization and planning will pay off. At the end of the process, you will have a fresh new home and the satisfaction of time–and much less money–well spent.
Categories: Finance