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5 Points to help you to budget for home renovation!

Updated: Jun 26, 2019


People can upgrade the value of their home through home renovation, but in the other hand it can be quickly become snowballing if you’re overlook of it. Here are 5 points that can help you to avoid before you getting out-of-control.



1. Evaluate your Financing before finalizing your budget.

Before you set the budget for your home renovation, you will need to analyse how you are financing it. If you are planning to pay by cash or applying for credit, then your budget need to fit within the limit of your handy amount. Once you have the idea of how much you can used for your home renovation, prepared 10% to 20% of your available amount for unpredictable expenses. This is because, you will never know what will go wrong or cost more than originally fees.



2. Come out with a plan

Try to stick with your plan as much as possible is one of the ways to keep costs down during your home renovation. For example, you can create a list and categories it into “must-have” and “things you want”. Know what you can try to cut off from the list and what need to stay base on your budget.



3. Mix and match

Mixing materials is a way of keeping your costs down. If you are planning to do flooring, you can use hardwood or long lasting options for the living room and bedroom, but you can use cheaper flooring options for the place like entryway, utility room.




4. Hand-work time!

Do your own painting! Having a professional to paint the room can cost you few hundred or even more. Also, instead of buying everything brand-new, pick up the habit of reuse or refurbished items when possible. By doing this, it can noticeably reduce your cost on appliances and finishes.





5. Resell the item you’re not used

You may list out what appliances that has only been bought for more than 1 year, but it's only been used by less than 3 times. Make sure the item is in good condition and you may consider to resell and fund the renovation.




Source:

https://www.familyhandyman.com/smart-homeowner/home-renovation-budget-tips/

https://www.budgetdumpster.com/blog/budget-home-renovation/

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