If you’re a die-hard fan of home renovation shows, you may feel like renovating a home is a piece of cake. After all, the show hosts seem to be able to mitigate disasters, come in on time and (mostly) on budget, and always wow their clients with the end result.
Well, we’re here to tell you that those shows are fudging the truth. In fact, one in every three homeowners exceeds their home renovation budget. If you don’t want your reno to fall into the negative side of that statistic, you need to spend time creating a realistic budget.
Below, we outline three of the most forgotten yet high-cost items in creating a budget for home remodeling.
1. Design and Planning
Planning for your remodel is more spendy than you think. You could try to do it by yourself, but unless you work in some aspect of the building trade, you’re going to miss important details. And that will cost you down the line.
Say you’re building a new conservatory. You need to consider not only how you’d decorate the finished product, but you also need to price up building materials, foundation repair or installation, solid roof conservatory cost, local permitting…the list goes on!
And on that note, don’t forget to consult with your local government authorities on whether permits will be necessary for your home renovations and how much they’ll cost.
2. Repainting Costs
If you’re looking to save money on your home expansion budget, you might be opting for paint instead of, say, wallpaper on your walls. If you’re undertaking a budget kitchen remodel, you’re probably going to attempt to repaint rather than replace the cabinets.
Because paint is perceived as one of the least expensive remodel materials, it’s a frequently underestimated renovation budget line item.
For one, there is a vast range of paint options, from durable yet cheap waterproof paint in limited color ranges to pricey luxury finishes like blackboard, magnetic, satin, or custom-designed color. You also need to measure the amount of paint you need to order carefully, so you don’t run out halfway through and so that you can take advantage of bulk-buy discounts.
3. Trash Removal
No matter what types of home renovations you’re engaged in, you’re going to need to get rid of a whole lot of stuff. This could be anything from demolished wall materials to old cabinetry, appliances, and furniture.
When planning your remodel budget, call around some local trash removal services and get quotes. It’s often easier to get a dumpster delivered to your property. You simply fill it up with debris, and it’s hauled away when you’re done.
If you’re remodeling an older home, you may encounter toxic substances like lead paint or asbestos insulation, so ensure your budget has a line item for a safe, professional removal service.
For furniture in good condition, consider donating it to your local charity shop. You could also sell it to a second-hand dealer or auction house and make a little money for your remodel!
Crafting a Realistic Home Renovation Budget
Include these three items in your home renovation budget, and you’re less likely to break the bank. However, the cost of renovations can often exceed the, so check every line item carefully to see if you can reduce that spend. Perhaps you can choose less luxurious fixtures, or maybe you forgo natural hardwood flooring for durable vinyl plank?
For more helpful homeowner advice, browse the other articles on our blog.