Budgeting for a home renovation might sound daunting and scary, but we're here to hold your hand and help you make the best decisions for your new home!
Where to start
Start by considering how much you're willing to spend on each room of the house, then add up the total. You may want to get an idea of how much it would cost to renovate one room before going through this process for all of them. After that, you can start looking at how best to spend those funds in detail.
We suggest spending a couple of hours on this part of the process so that you have a good sense of what it would cost to do everything that needs doing in each room of the house. It's important not to rush this part because it will affect every other decision you'll make during your renovation project.
On to the details
Once you've got some numbers down for each room (and hopefully an overall total), it's time for the fun part: getting builders' quotes! If there are only a few things that need fixing or replacing in each room, consider getting quotes from a couple different companies so that you can compare prices and quality levels from different sources before making any decisions about who will do what work for you!
Once you have that preliminary number in mind, it's time for some detailed budgeting. This part can take some time, but we promise it will be worth it! Start by taking an inventory of all the materials and services that will be needed for your renovation project. Then take each one and break it down into its individual components (like labor costs and material costs).
For example: if you're planning on having new floors installed throughout your home, create separate categories for labor costs (which includes things like installing flooring), material costs (like wood), and other expenses (like supplies).
BONUS TIP: Ask for as many builder and contractor budgets as you can! It’s better to have different prices to compare.
Want to get a stretch ceiling for your newly renovated home? You can fill out our contact form so we can send you a free estimate!