At Precise Exteriors, we love home renovations. When a house is transformed into a dream home and we get to be a part of the process, it’s a good day at the shop. But, we know that all renovations cost money. Consider these five tips to stay within budget so your home renovation is everything you want it to be:
Set a limit on your spending and stick to it. It’s easy to add small adjustments to your original plan, but the more you add, the more likely you’ll overspend. Be realistic about the cost and, before making any adjustments to your original plan, consult the budget.
Break down how much you money should be spent per room. By doing this, you won’t spend the bulk of your money in a room that won’t pay you back in the future. You can determine how to budget by knowing the value of each room in relation to the value of your house.
Add a 20 percent cushion to your budget. This cushion isn’t meant for the unnecessary add-ons, but for the unexpected twists and turns that may arise during a home renovation. If you give your budget a cushion, your wallet will thank you later.
Spend your money in all the right places. If your house has a draft, consider replacing the windows and siding. Your new windows and siding will not only look beautiful but also save you money in the long run.
Consider the “10-year-rule” before spending money on a certain room. For example, if your bathroom has been remodeled within the last 10 years, renovating that room won’t pay you back if you choose to sell. However, remodeling a room that is older than a decade is a wise financial decision.
Don’t hesitate to call us at (651) 206-9168 with questions about our services. We look forward to hearing from you and being part of your home’s transformation!