Setting up a Home Improvement Budget…and Stick with it!

Planning a budget for any home improvement project is never easy. Especially having to stick with it! Things happen all the time in the contracting world that causes the budget to… go a little over what you had initially planned. Here, we will talk about ways to make sure you stick with your budget as much as possible. Unfortunately you wont be able to completely stay on budget especially if something out of you or the contractor’s control happens. This will give you the tools and tips to stay within the budget.

First step is to make sure that you know what you are able to spend. Knowing your own budget and what you can and cannot spend is important. Sit down, and plan on what you are able to spend and what you want to spend for home improvement projects.

Second, figure out what home improvement project you want to do. Knowing and having a plan on what you want to have done is very important. Stick with it! Make sure you are 100% sure about what you want to do!

Next, once the project is figured out, start pricing the items and materials you want to use. I know that pricing could be different based on the contractor you use since they will probably buy from a specific manufacturer but you can at lease have a ballpark. Plus, the pricing you come up with will most likely be more than what the contractor will get for materials. Along with this, you need to figure out your idea of what you want for a project. Are you looking for a modern kitchen with shaker style cabinets and granite counter tops? Find the idea that best fits what you style and needs are.

You than need to find a contractor. The contractor will be there with you every step of the way to help you stay on budget and make sure you get everything you want.

The most important thing to understand is that any changes made or suggested by your contractor should be in writing and approved by you. This is what we call a “change order”. Always get updates from your contractor so you are both on the same page and no one is confused. Budgeting is hard to do for your own income, so it cant be difficult planning and budgeting for a project at your home. Just remember to follow these steps and plan 0ut everything before you get started on any projects.

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