Looking to renovate your home this 2019? While knowing what you want is easy-peasy, calculating (and keeping) a budget is easier said than done. There's just one too many things to consider when budgeting for a renovation - but we're here to break it down into a few simple steps for you to follow.
Realistically, how much can you afford?
You think you had this at the back of your palm. You'd go for cheaper options - less expensive tiles, paint your own walls, DIY this and that. But the better option here is to be honest with yourself. Would you really go extra lengths to paint those walls just to cut cost? If you know you'd flunk the project halfway, it's best just to hire someone who's professional in the first place (plus this could mean you wouldn't have to scramble to find someone last minute which could cost extra if you want it done quickly!)
Plus, if your initial budget has been set too low, you'd find yourself in way more things to worry about even before you see the end of your renovation project. In short, keep in mind to be realistic. If you know it's gonna be way too hard to take matters into your own hands, contact experts or interior designers to guide and help you along the way. Trust us, it's gonna be easier for both you and the designers if you let them start from scratch instead of trying to recalculate your budget.
Keep your priorities in check!
Want to renovate your kitchen and your bathroom but don't have enough budget? It's time to drop either one of those ideas and focus on what's more important. If you know from the very start that you don't have enough for both of it, don't stretch it! It's better to spend fully on renovating and recreating a space to reach it's utmost potential than to split the budget and end up with two spaces you're not entirely happy and satisfied with.
Additionally, not all renovations are made equal. The price for renovating a bathroom is completely different than the price for renovating a bedroom. There's always extra components to consider, such as plumbing, wiring, and so on. That being said, you should always prioritize needs than wants. Consider getting opinions from professionals or free quotes as those can definitely lend you a hand in understanding the prices before prioritizing which area to renovate.
Expect the unexpected.
You might spend days, or even weeks planning and calculating your renovation budget, just for one itsy bitsy problem to pop up - the final cost wasn't what you planned for. Chances are, there's going to be unforeseen circumstances or problems that needs more patching up (that costs money, of course).
Thus, as the experts say, you should allocate at least 10-20% more from your initial budget just to make sure everything is in check and your budget doesn't blow out of the water. You should allow some room in terms of budgeting to minimize any unnecessary stress.
While these are only a few handy tips we've given as a guideline for you to create your 2019 budget, it's best to speak to us personally for us to guide you better. Renovating and budgeting for your space is no joke - it can be both costly and stressful at the same time.