If you are planning a home renovation project, fixing a realistic budget for the task is bound to feel like too much work. You need to have what you visualised, but at the same time, the process must not burn a hole in your pocket. To simplify things for you, our experts at BC Build have listed some tips that you can use to fix a practical budget for your home remodelling project:
Determine Why You Need The Renovation
Before anything else, think very carefully why you need to have the renovation done. Also, decide and plan what you would like to change and where. All these will help you to estimate how big the project might be, which is going to influence the expenses involved. Pen down everything in a notepad so you don’t forget them later.
Utilise A Professional Budget Calculator
The Internet is filled with many effective budget calculators for extension projects, such as the Budget Calculator from Archicentre. Use them to obtain a near-realistic estimate of your home remodelling project costs. The estimate would let you know whether your fixed budget is in par with standard costs or not.
Add Some Extra Cost To Your Budget
Once you have fixed the final budget, augment the amount by 10 or 20 percent. This extra amount will serve as your contingency or backup. In case there is a need to procure something more than what had been planned, the contingency will cover it.
Hire Professionals And Discuss Your Plans
After finalising the budget, hire a professional building and renovation service provider. But instead of proceeding with the work immediately, let the professional know about your budget and ask him or her to check your estimates as well. Since reputed and expert builders possess a lot of experience about remodelling projects, they would have a much better idea about costs of materials, fixtures, tools, etc.
Following these guidelines will ensure that your budget meets the specifications of your renovation project. Also, you won’t run out of money in the middle of the work, if at all there is a necessity for something extra.