Renovating your bathroom and kitchen area is a fun and exciting move towards improving your home. If you’re up for it, you’ll already have a picture in mind of the project and you’ll be eager to see results in no time. However, people often find it puzzling how to budget their kitchen and bathroom renovation costs.
Having a budget plan for your kitchen and bathroom renovations is essential for it to succeed and to prevent splurging your money on unnecessary items in the project. Thus, you should know the tips on how to save money for that purpose. If you need some help, read on below.
Get a Home Inspector
Although it adds up to the cost of the renovation, getting help from an experienced home inspector will prepare you for any difficulties that you’ll likely encounter during the remodeling.
Your home inspector will examine the areas that you want to renovate. In this case, if there are any issues such as a damaged wood subflooring, you can include it in your budget plan and to prevent unnecessary costs after the project.
Spread the Budget Across Categories
Experts in home renovations will surely advise you to split your budget into categories so that you’ll have an idea about the overall cost of the project. For instance, it’s necessary you know what percentage of the budget will cost you in design fees, installation fees, lighting, hardware, ventilation, flooring, etc.
Following this essential tip for your renovation project will help you avoid sticker shock when it comes to the bidding process. Contractors generally provide their clients with a bid sheet that specifies each part of the project, including the cost of each task that you want to be done.
Be Honest about Your Budget
For sure, knowing the budget is an initial step in planning your renovation project. However, it’s also essential for you to be honest about it. After all, kitchen and bathroom renovations don’t come cheap. For a minor kitchen renovation, for instance, it can already cost you around $20,000.
Your bill can also increase if you have to rush the renovation. So it’s essential what are your priorities in your kitchen and bathroom renovation project for you to avoid overspending.
Ask an Expert if You Need a Home Permit
Perhaps you need a home permit for your renovation project. For instance, a renovation project that requires you to add a new gas line, getting a home permit is necessary. That’s why you should know the cost of getting this requirement and include it in your budget.
Beware of Scope Creep
Scope creep is a term in project management which means changes and continuous growth in the scope of a particular project. In this case, the project’s cost also balloons above your estimated budget. So, it’s essential that you are aware of this issue for you to save money on your kitchen and bathroom renovations.
Example of scope creep is when you have to spruce up a part of your home, and it leads you to another renovation of another part of the house. So it’s essential that you keep boundaries to prevent turning a room renovation into a total home remodel. If you’re living in Melbourne, you can consult experts in renovating Melbourne kitchens and bathrooms for that purpose.
As mentioned earlier, kitchen and bathroom renovations are fun and exciting. However, you should be aware that this project doesn’t come at a low price. That’s why you should know how to budget your money for you to avoid overspending on it. There are several ways how you can save money for this project. Reading the tips above can be a good starting point.