One of the most talked about topics when looking into a remodel is budget. It is definitely an important aspect of your journey to a newly remodeled home. Where and how you spend your money can impact the overall success of the project dramatically. should be considered for these reasons:
Allowances
Dividing each area up so that you are giving an allowance of your budget to each category of the remodel will help you tremendously. This gives you the ability to look at each area as you have priorities. If the main reason for your remodel is the kitchen, then you may allow more of your budget to be sectioned off for that part of your home. Of course, some areas will not need as much money as other areas.
Once you have given each section an allowance and you start to move through the process of selecting materials and finishes, this is when you have the opportunity to prioritize again. Deciding on which material to invest more of your allowance in can be tricky. For example, in the kitchen you may be drawn to a beautiful and more costly tile for your backsplash but also want a specific style sink that is also costly. This is where your designer can help you find the right solution for both so you don’t blow up your budget.
Reserve Budget
The reality of remodeling is that most people under budget. Their expectations have been set by looking at magazines or watching HGTV and they are unaware that a remodeling project can get out of hand very quickly without the right guidance through each step. The best scenario is to have your designer help you decide on a budget from the beginning and then help you carry that out over the course of the project.
Having a reserve budget in mind is always a good idea when working on a home remodel. Planning with the end in mind includes being mindful of worse case scenarios. It is better to have thought through the possibilities of needing something more to complete a room than being surprised by it.
