Kitchen and Bath Remodeling: Budget Basics

Posted by kbanks & filed under Projects, renovations.

      

When you’re serious about starting a kitchen or bath remodel, “planning” is the magic word – it ensures you money doesn’t run down the drain (no pun intended). Follow the planning pointers below – as shared in Better Homes and Gardens’ Kitchen and Bath Makeovers – to take the guesswork out of budgeting for a remodel.

  • Ask questions upfront. What do you want to accomplish with this remodel? What are your priorities? How much can you afford to invest?
  • Figure out financing. Several options are available to help you cover the cost of your remodel – like refinancing, home equity loans and personal loans. Do your homework to determine which makes the most financial sense.
  • Get estimates. Obtain thorough quotes from designers and contractors. Make sure they visit your home to evaluate the site, and ask them to provide references and examples of past work. Even if you’re a DIYer, it’s worth it to consult a professional.
  • Sweat the small stuff. Even seemingly minute details – such as the placement of electrical outlets – need to be addressed ahead of time to prevent snap decisions and costly mistakes mid-project.
  • Expect the unexpected. Unforeseen conditions can wreak havoc on a remodeling budget. Including a 20% cushion in your budget at the beginning of a project can offset surprises that often happen as the remodel progresses.

For our readers who have recently completed – or are in the middle of – a home remodeling project, what other suggestions would you add to this list?

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