Email Post to a Friend: Renovation Tips: How to Stay on Budget

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February
14

Staying on Budget - Home Renovations - J.P. Weigand & Sons, Inc.

Owning a home is a great investment that gives you the freedom to make changes to your home and build equity. You can enjoy these advantages by contacting our real estate agents as your first step in owning your home. However, being a homeowner comes with its shares of expenses like remodeling costs. Fortunately, you can handle home renovations within your budget using the following tips.

  • Get Specific About Your Renovation Needs
    Why does your house need renovation, and which part of the house? There are different reasons you would like to renovate your home. It could be that the current house doesn't meet your preferred living condition needs, or it could be you desire a modern look or need more space.

    Whatever the reasons are for considering a renovation project, be specific about your needs. Write down the areas that need renovation and prioritize them. Start with the high-priority renovations and remain focused to prevent being side-tracked with other minor projects that can wait.


  • Identify Your Source of Finance for the Renovation
    The challenging part about home renovations is figuring out where to source the funds. To avoid running into debt to finance the remodeling, begin by considering your current finances. Do you have enough funds to finance the entire project? It's great if you can meet the expenses out of pocket.

    However, if you don't have the full amount to finance the renovation, you can consider a home equity loan. If you use a credit card, look for same-as-cash incentives.
     
  • Discuss Your Renovation Project
    If you know someone who has done a similar remodeling project as your home needs, consider talking with them. Discussing your upcoming renovation project with someone who has done it before will yield additional knowledge on the expected costs.

    For example, if you're considering a kitchen renovation, someone who has done it before can help you find a reliable contractor. They can also direct you to stores where you will find the best deals for kitchenware and guide you on what to do.


  • Do Your Research
    As you set a budget for your upcoming remodeling project, it's important to understand what materials you need. You need to know where to source these materials and how much they will cost on average to remain within your budget.

    Therefore, it's important to do your research. Although technology has made it easy to shop online at the comfort of your home, if you can, visit local hardware stores for better insights.


  • Only Seek the Services of Trusted Contractors
    There are numerous self-proclaimed best contractors in the market. When looking for a contractor to work with, ensure you hire reliable, professional and trusted contractors. Although it may cost a lot upfront, it's a great way to save money.

    Working with unreliable contractors could lead to poorly done work that will cost more to redo. Ask your friends, neighbors, and family for recommendations. Do further research on the companies before hiring them.


  • Reuse Old Materials
    To avoid going beyond your budget, you can reuse old materials around your home. If you have leftovers from other renovation projects that can apply to your upcoming project, consider reusing them.

    For example, if you'd like to remodel the living room, you can reuse an old chair and change its color or design. Updating existing items helps save money and provides a fresh new look.

When living in your own home, you can engage in renovation projects to suit your needs and preferences. Contact us to check out Wichita Homes for Sale and renovate your home according to your style.

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