Budget Wisely and Plan for Surprises
One of the biggest challenges in any renovation is sticking to your budget. Start by setting a realistic budget based on your goals. Take the time to research the average costs for materials, labor, and permits, so you’re not caught off guard. Many renovation projects, especially if you plan on hiring professionals, can run over budget due to unexpected issues, so it’s important to leave some wiggle room for surprises. Professionals can also help you plan for all of the items that will be needed in your project. Once you have an idea of all of the necessary items involved in your project, you can start assigning allowances to these items to help you get toward a ballpark budget for the materials involved.
Consider allocating an additional 15-20% of your budget for unforeseen expenses. It’s easy to assume everything will go according to plan, but from hidden plumbing problems to price hikes on materials, it’s better to be prepared for the unexpected.
Research and Hire the Right Professionals
If you’re not planning to do the renovation work yourself, hiring the right contractors is key to ensuring your vision becomes a reality. Start by researching professionals in your area. Contractors, architects, or designers who specialize in the type of project you’re planning can be great resources to get average cost information and timing. Ask for referrals from friends, family, or online communities, and be sure to check reviews and previous work. As a rule of thumb, it is a great idea to talk to at least three people when deciding whom you would like to work with or getting estimates.