What and How to Budget for a Remodel

What and How to Budget for a Remodel

What and How to Budget for a Remodel

Kitchen Townhouse

Cost is always a big question when planning a remodel. Before getting started, it’s important to budget for everything you’re planning to do.

 

The Basics

 

An article from House Logic has claimed that you need to have at least $100 to $200 per square foot for any major upgrades. Still, that kind of planning is only the first step to being certain that you have what you need. Talking with a contractor will get you an idea of what to expect because it will include a full accounting of what’s possible. When you speak with a contractor, be sure to ask about their prior projects and check with references and reviews to gauge how they’ll do with your remodel.

 

The Dreaded Overrun

 

If you’ve researched any remodeling job, you know that the cost overrun is an issue that nearly everyone has. Still, there are several types of overrun and there are some possible ways to avoid them. While some suggest you add 15% to 20% contingency to the cost of your remodel, having a keen eye for issues will help minimize them or even possibly avoid them altogether.

 

How To Fund It

 

Once you’ve got a feel for the initial cost, you’ll want to know how you’re paying for your remodel. If you’ve got the cash, then you’re good to go. On the chance you were planning on a loan or home equity line of credit, you need to see if you’ll be able to fund your project based on the money you’ll have access to. If you have to cut back, it’s always easier to do it before your remodel gets underway.

 

Keep It On Track

 

Staying on budget is one of the best pieces of advice that you can have with a remodel. The easiest way to do it is to stick with your original plan. While you may think twice about your choice of countertops or whatever other feature, replacing your first choice costs extra. The best option is to make sure you’re completely happy before your remodel gets underway.

 

Conclusion

If a remodel is in the cards for you, please get in touch with us here at Stone Central. We’ll work with you to put together a countertop that you’ll love. Set up an appointment today so you can get your project started.