Home Renovation Budgeting Tips
A notoriously tricky part of house remodeling is staying on budget – just ask anyone who’s undertaken such a project! It seems as though, no matter how careful people are, they always go over their budget. But that’s probably because they didn’t have our handy renovation budget tips on hand! So, take notes – these hints could be the difference between staying on track and splashing the cash.
Choose House Remodeling Architects Carefully
If you’re wondering how to renovate a house on a budget, the first step is to pick a team who understands monetary concerns. Some architects will disregard money needs and instead push your budget to its limit, so teaming up with people that understand they need to be money-conscious when designing can be a lifesaver! A team that’ll actively help you to save money where possible is even better.
A lot of people draw up a renovation budget planner at the beginning of their project and then never make any alterations, but this is actually a bad idea. You should constantly be keeping an eye and updating your budget. For example, if you’re forced to overspend in a certain area, look at how you can re-calculate your budget to save the same amount in other places. In the same way, record when you under-spend so you know you have a bit to fall back on.
Have Extra Savings
Always, always, always have extra money saved away! If you have a total spend of £20,000, for example, only use £17,000 in your renovation budget. That gives an extra £3,000 that you know is there acting as a safety net. You can never predict everything you’re going to have to spend money on so having that little extra is a must.
Be Prepared to Make Compromises
As with anything, you need to be prepared to make compromises in your house remodeling project. Whether that be switching up your flooring for something a little cheaper because you’re going over-budget or even scaling down the size of your project, know that your plans may not go exactly as you want. If you start out with this in mind, you’ll be less disappointed if you do have to make changes and more prepared to do so for your budget.
Hire a Project Manager
Hiring a home remodeling project manager can help to keep you and your budget on track. Not only will their experience help to spot where you could save money, they’ll also be able to keep track of your spending whilst your projects underway so you don’t have to worry. It’s someone else who can share your budget-burden, which is always a good thing!
We have a team of experienced house remodeling experts at Bluelime Home Design who will be more than happy to help you manage your home renovation budget and keep your project running smoothly. Our architects can design with your budget in mind, so get in touch for a free consultation with our project managers today!