Becoming a homeowner is one of the most exciting events in our lives. After you have the keys to your home, the fun begins because you get to make the home into what you want it to be. In Seattle, WA, homeowners are keen on doing home improvement projects where they’re bringing the great outdoors inside.
The thing is, making these home improvements can certainly cost more than you’d think. We have five tips to help you create and stick to your renovation budget.
1. Make a Clear Plan
Naturally, before creating a budget, you need to know what you’re going to be doing. So it’s always a good idea to have a clear plan about what projects you’ll be doing, an estimated time frame to complete them, and even what things you’re willing to skip to meet the time or budget constraints.
2. Create a Budget With Wiggle Room
With your plan in hand, you’ll need to break out the calculator, pen, and paper (or your favorite spreadsheet program). The name of the game here is to research the cost of materials, permits (if necessary), and the cost of hiring a contractor.
We recommend adding 10% to your budget to cover surprises you may uncover while making home improvements.
3. Do Tasks Within Your Skill Set
Regardless of how handy you think you are, there are some home renovations that you just cannot do on your own. These include building an extension, replacing wiring, adding new plumbing, and much more. Of course, it’s always a good idea to do tasks within your skill set to ensure the job will be done correctly and safely, but you won’t get hurt doing something beyond your abilities.
Note: If you’re selling your home, don’t hesitate to ask your real estate agent if they can refer you to a reputable contractor who can get the job done quickly and affordably.
4. Shop and Compare for the Best Prices
Most of your budget goes toward the materials you’re using for your project. Even though you researched prices when you were creating your budget, you’ll want to do another search because prices change, there are sales, and you might even be able to find discounted, recycled, or reclaimed materials.
5. Sell Your Extra Clutter
Did you know that you could recoup some of the costs for your home improvements by selling the items you’re replacing? You can sell used appliances, cabinetry, windows, doors, and even flooring materials, as long as they’re in good condition.
You Don’t have to Go Broke Doing a Home Renovation!
Home improvements can be pretty expensive but when you’re making a budget (and sticking to it!) you can have the home of your dreams. These are just a few tips that you can use to get you on track. When you’re preparing your home to go on the market, remember to ask your agent for insight because they know the market and can recommend which projects are worth doing – both in terms of return on investment, and in terms of desirability among buyers.