Are you planning to renovate your home or office but find sticking to a budget too much of a challenge? It is easy to get dazzled by design magazines and fall in love with something you can’t afford.
Fortunately, The Reno Superstore is here to help.
Planning a renovation within a budget is tough but it is the smartest thing to do. A realistic budget requires detailed groundwork and tons of research. In turn, it creates realistic expectations and leads to prudent choices.
Here are some simple tips to help keep your renovations from exceeding your budget.
Discover Top Tips to Plan Your Renovation Within a Budget
Creating a renovation budget is the first step. Then comes the most challenging part: actually following through with it. Here’s how to ensure you are headed in the right direction.
1. Plan Ahead Of Time
In the words of Benjamin Franklin, “Failing to plan is planning to fail.” This couldn’t be more true. Creating an effective plan isn’t going to magically just happen. If you want to be parsimonious about your money, you need to plan way before the construction begins.
Do you want a marble countertop, or will porcelain tile be a more cost-effective solution? Where can I get more discounts on my purchases? (Of course! The Reno Superstore, wink wink.) Is substituting hardwood for engineered wood a more affordable option? The questions are endless, and it is heavily dependent on your project.
Pick out every material. Then, think about all the options before settling on one. Don’t hold off important decisions to the last minute as this will only lead to expensive delays.
2. Consider Alternative Building Materials
We love solid hardwood floors but may not have the budget for them. There are plenty of materials, such as tile and vinyl, that give you the same look at a fraction of the price. When it comes to remodeling any space, there is always room for less expensive look-alikes that don’t burn a hole in your pocket.
Keep an open mind and look at all your options before investing. The key here is to do your research and understand your needs.
3. Combine Projects to Save Money and Time
Don’t space out smaller projects that can be done at the same time. This will not only take up extra time but cost you more. For instance, if you need to change the floors of your living room and dining room to hardwood, then it is cheaper to get them done together. This is because bulk buying is always more affordable and will guarantee an efficient finish.
4. Choose a Reputable Installation Service Provider
Take your time when selecting an installation service company. Research thoroughly, ask around, leave no stone unturned. Oftentimes, homeowners choose an installation company that quotes them the lowest amount. This is a common mistake as cheaper doesn’t always mean better, especially when it comes to home renovations.
Communicate clearly with your designer or contractor and make sure you both are on the same page. Don’t hesitate to ask questions to them. Remember, for a successful renovation, establishing clear communication with the construction team is important in achieving the end result you want.
5. Budget for the Unexpected
Expect the unexpected when it comes to remodeling a space. Besides the construction part, there may be other expenses. For instance, when tearing down walls, your contractor may discover rotting structural elements that need replacing. Or, if your remodeling means you need to relocate to a hotel, you need to add those bills to your budget.
Depending on the type of installation and construction, you may require a permit. Make sure to allocate funds for such situations.
6. Determine The Exact Cost (As Much As You Can!)
Most of the time, homeowners may not be aware of the detailed cost of their renovation, which can create unpleasant surprises. Avoid that altogether and ask your designer or contractor about the full cost of everything. Make sure you understand their exact services and if there are any applicable taxes or delivery charges.
At The Reno Superstore, clients frequently ask questions related to home renovation, and we are always happy to address them. We make sure we are transparent about our policies, but reach out to us regarding any doubts you may have.
7. Shop Online For Home Improvement Needs
Online shops often offer better deals than retail ones. You also get the chance to compare a range of products and pieces to pick what suits your needs.
The Reno Superstore has great offers on all home renovation products. Keep an eye out for our special prices and discounts on your favorite items. Also, we offer an easy financing solution on purchases as low as $50.
8. Keep Track of Your Expenses
According to some sources, your remodeling budget on a single room shouldn’t be more than 10 to 15 percent of your home’s value. For example, if your home is worth $100,000, you should not spend more than $15,000 on the kitchen renovation.
Even the best-drawn plans will fall apart if you don’t watch where you are spending. Once the project starts, make sure to keep track of all your expenses. This will serve as a record to help you keep your spending under control.
It is very easy to go overboard with plans and rack up expenses. So stay on top of expenditures before they get unmanageable.
9. Stay On Schedule
Considering all goes according to plan (fingers crossed) make sure to stay on schedule. Remember, time is money, minor setbacks happen, and that might cost you more time, which, in turn, costs you money.
Make sure, your contractor is not extending the project and is instead completing everything within the discussed timeframe. Keep in mind that changing plans or making other arrangements (like adding storage after plans are drawn up) are all added expenses that you don’t want.
Hopefully, these tips will help you manage your next renovation within a set budget. Careful planning and budgeting is just the first step. Be realistic about your budget. Of course, you can consult our experts when planning your project to ensure everything goes smoothly and as planned. The Reno Superstore is a complete renovation store that offers all kinds of products and services related to home improvement needs. No matter your budget, our services are dedicated to making sure the result is just what you hoped for.