How To Budget Your Next Big Home Improvement Project
Spring and summer are the most popular seasons to take on home improvement projects. You may see your friends, family, or neighbors giving new life to their spaces and want to do some updates of your own. However, in this uncertain economic climate, you may be worried about funds. It never hurts to consider your options and the most affordable way to approach renovations. With that in mind, the following is a guide to help you navigate home improvement projects on a budget.
Understanding Home Improvement Costs
When repairing or upgrading any aspect of your home’s interior or exterior, there are two main costs to take into account. The first is the cost of materials, such as the price of vinyl siding or kitchen countertops. Keep in mind that better materials often yield higher prices. Depending on the materials you choose, you could either fall above or below budget.
The second cost is the cost of labor, should you need it. Simple painting jobs inside the house may not require hiring a paint crew. However, for more intensive projects such as tiling or exterior upgrades, extra hands may be necessary to get the job done correctly. The cost of labor varies depending on the company you hire and the scope of the project you’re undertaking. You should also factor in extra costs that may be incurred should the contractors run into complications.
How To Budget out Your Home Improvement Project
Before consulting with a construction company, map out your vision. It’s important to have your own ideas in mind as a jumping-off point. Identify the ideal look or aesthetic you want your home to embody.
Say you want new, sleek counter tops in your kitchen. First, take some time to explore the various materials and grains available. For instance, there are other types of stone that resemble the look of marble at a lower price point. Researching online or speaking to someone at a store will give you a better framework for what your costs will be.
Next, choose a maximum budget you don’t want to exceed, but remember to be realistic. This is why researching your project beforehand is so important. In the kitchen countertop example, your budget is dependent not only on materials, but also the size of the space. Estimate how much square footage of work you are doing to a part of your home. If you want to spend no more than a couple thousand dollars on kitchen counter tops, ensure that the total square footage times the cost of materials per square foot fits within that budget.
At Advance Inc., we take pride in being an honest contractor with the expertise to get the job done right the first time. We help guide our customers to select superior products at prices they can afford, and look forward to assisting you with your next home improvement project.
Visit our website to explore our available services, or contact us to speak to a representative. We are happy to help.