3 Ways You’re Unintentionally Jeopardizing Your Home Renovation Budget

home renovation

What started as the most impressive project of your life is slowly turning into your single worst nightmare. So many things have gone wrong that you’re not even sure when your entire home renovation project derailed. Was it when you installed the hardwood floor yourself? Or was buying hardwood simply a bad idea? A quick peek at your bank account shows that you might not have the budget to finish the renovation.

There are many ways you can unintentionally ruin your budget, and therefore the entire project. Knowing what these are can help you prevent them and improve your approach to building your dream house.

You Mistake “Budget” for “Cheap”

“Budgeting” doesn’t mean you’re doing your home renovations cheaply. It simply means that you’re allotting a certain amount of money for this endeavor. Whether that sum is big or small is up to you. If you’re keen on being as practical as possible, it’s best to start by canvassing your expected output cost.

Create a spreadsheet that itemizes all your anticipated expenses. Don’t hold back on the brands and features you want. After you list their corresponding prices, you can sit back and analyze where you can cut back. Doing this will enable you to create a balanced budget that welcomes some items that you really want and alternatives just as satisfying. Whatever the total output will show you what your budget should be.

People who decide on a sum without itemizing their expenses and examining them against their expectations only set themselves up for disappointment. While it’s likely that you’ll spend a little over your intended budget, drafting one that comes close to your actual expenses is better than nothing.

You Think You Can Do It All

renovation planning

Do-it-yourself home renovations are possible. Google alone suffices to provide an extensive guide on the dos and don’ts of installing tiles, removing old faucets, and creating a new outlet. Some renovation endeavors, however, are best left to a residential contractor.

When you DIY everything, even when you’re uncertain of your methods, you risk mishaps that will cost you more to undo. It’s wise to decide early on what you’re confident doing and what you’ll leave in the hands of experts. Consider the money you’ll be paying a contractor as an investment to a fail-proof renovation. Compared to the costs your mistakes will incur, hiring a professional will look so much cheaper.

You Buy Everything New

Refacing your cabinets and other appliances is more cost-efficient than buying a brand-new item, even if you get them on sale. If you want a certain design for your pantry, why not leave the body intact and replace the doors? Maybe what your room needs isn’t a brand-new wallpaper, but a fresh coat of paint. Buying items in salvage yards and building material auctions will give you plenty of pleasing alternatives that cost much less.

While you leave the difficult stuff to a residential contractor, you can keep yourself busy by beautifying your salvaged materials. This isn’t only an excellent means to save money; it’s also a good way to help the environment.

Watch the Small Things

It’s the small things that can impact your renovation either positively or negatively. Take your time to create a comprehensive list on a spreadsheet. Find a professional whose fees match your budget. Decide early on which doors, cabinets, and appliances you can reface, and go to salvage yards before you visit hardware stores. When your home renovation is planned meticulously and realistically, few things can get in the way of achieving your dream house.

Scroll to Top