How to keep your home renovation project on budget

When you’re planning your home improvement project, one of the key things you’ll have to work with is a budget. Unless you have unlimited money – and although that would be a dream, let’s face it, not many of us do – you’ll have to be sensible with your spending and make sure that you can afford the work without having to take on unnecessary debt. Budgeting involves proper planning, prioritizing what you want and need, making allowances for unplanned costs, and clear communication with your contractor. To help you keep your home renovation project on budget, here are a few simple ways to make sure you don’t overspend and tips to make your money go further.

Plan ahead

Forward planning is one of the best ways to keep your home renovation project on budget. Plan for everything – including things that could potentially go wrong – and get accurate pricing rather than rough estimates. Take advantage of sales and online discounts and buy things ahead of time rather than on a whim, as you often end up spending more when it’s an impulse buy.

Communicate everything with your contractor

Miscommunication can end up costing you a lot of money, so make sure that you and your contractor are on the same page and they know exactly what you want. Your contractor won’t be able to read your mind, and too much detail is always better than too little.

Stretch your money

There are plenty of ways you can make your money stretch further when renovating. Instead of having three different types of flooring in your home, stick to just one or two so you can buy the materials in bulk and at a lower price. Opt for an open plan space rather than lots of rooms and separate your areas with sliding doors or furniture. Also, don’t be afraid to buy second-hand, especially your furnishings and things like bathroom features, as this will save your budget.

Keep track of your spending

Another simple but effective way to keep your home renovation project on a budget is to keep track of your spending. Create a spreadsheet or have an app on your phone that records everything you’ve bought – including little things like accessories and decor as they soon add up – so you always know where you’re at and you avoid overspending.

Looking for a contractor in Vancouver to complete your home reno? Get in touch with Steelhead Contracting today!

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