Establishing a budget is one of the first things you should do when planning for a remodeling project. By determining what you can afford, you’ll know how big the renovation can be and what materials you can consider. It will also help you prioritize your wants and needs. Once you’ve determined your budget, it’s important to stick to it. JLR Home Renovation, the premier remodeling contractor, shares these three tips to help you:
Determine the Project’s Nature
Which area of the home will you be renovating? The kitchen? The bath? Each project has its own budgeting method. A per-square-foot calculation works best for a room addition, but it might not be as effective for a renovation. When you have a project in mind, consult JLR Home Renovation about establishing a budget.
Identify the Different Pieces Involved
What are the different expenses in the project? The largest piece may be the construction costs, but there are other expenses to consider. These include legal fees, impact fees, permit costs and moving and financing costs. It’s important to identify all potential costs early on and assign a value for each to ensure that you can cover every aspect of the project. In a major project like basement remodeling, for example, make sure you have enough money to cover non-aesthetic aspects like plumbing, lighting and electrical.
Establish a Contingency Plan
Regardless of how well you plan for your project, unexpected things can always happen. It could be a structural problem or a delay that halts the construction. Whatever it is, the best way to prepare for the unexpected is to allow a contingency in the budget. Setting aside an amount that’s equivalent to 20% of your entire budget will help you avoid any delays.
Working with an experienced contractor can help you stay on track during your remodel. JLR Home Renovation can help you plan your project to fit your budget. You can count on us for quality kitchen or bathroom remodeling services. Call us today at (717) 306-9555 to learn more about our services. We serve Elizabethtown, Hummelstown, Hershey and nearby PA areas.