How to Effectively Use Your Remodeling Budget

How to Get the Most Bang For Your Bucks in a Remodel

Those renovating couples on TV always make an enviable profit, but even these pros break their home remodel budget in just about every episode. If they struggle to stay on track, how can you possibly hope to stay within budget on your home renovation? It can be done! You just have to stick closely to the budget home remodel advice we’ve compiled below.

Are You Remodeling to Sell?

If you are planning to live in your house for a long time after your remodel, by all means, let your personal style run wild — within the parameters of your home renovation budget planner. (don’t have one? Read on.) But if you are remodeling to sell, the idea is not to please your personal tastes. When mapping out your remodel budget planner — an absolutely essential step — your plans and aims should differ depending on whether you are keeping or selling your house.

Fail to Plan, Plan to Fail

A solid plan is critical to any budget home remodel. Unexpected expenses can be avoided by planning in advance. When planning, be realistic about what you want to accomplish, identify and account for any possible hurdles (don’t cut your budget too fine), and don’t allow yourself to get carried away and deviate from the plan. 

Part of your planning should include getting at least three contractor quotes for your renovation and playing the quotes off against each other to negotiate the best price. Getting your hands dirty by taking on any manual tasks you can also slash your overall remodel costs. There is a YouTube video for everything these days! Just make sure you factor in extra time if you plan to learn new skills as part of your remodel.

Functionality Over Aesthetics

Place yourself in your buyers’ shoes. What will they most care about? A top-of-the-line stovetop or a functional water heater? Buyers want value. They are savvy these days and care less for aesthetics than solid, reliable structures. When selling, the less you personalize the house, the better. The vanity items you like and spend some of your budget on, may well be torn out immediately by the new owner. Listen to the TV pros — they keep their remodels neutral.

The greater return on investment lies in fundamental renovations for effective functionality, such as siding replacement, roof repair, and reliable plumbing. Don’t plunge money into beautifying things that may appeal only to your tastes. Instead, do things “on the cheap” including improving your curb appeal by watering a dry lawn and trimming or removing overgrown bushes, rather than blowing your budget on expensive flora.

The Heart of the Home

The kitchen. The most attention-grabbing zone of the house. This is where, potentially, much of your home remodel budget will go. Remodeling Magazine says $62,158 is the national average cost of a major kitchen remodel, and a modest remodel which retains cabinetry will set you back around $20,000. How do you want to approach your kitchen remodel?

If you are keeping your home, consider how you want to use the kitchen. Do you enjoy entertaining? In that case, perhaps knocking out a wall TV renovation-style to create an open-plan kitchen and entertainment area may be a worthwhile investment. If you are renovating to sell, your buyers may appreciate that you have retained the structural integrity of the house by retaining all walls. They may not be entertainers and therefore would rather see a new roof than a huge kitchen island.

Plumbing and Your Remodel

A plumbing overhaul should be an automatic inclusion onto your home renovation budget planner. If your goal is to live in your house for a long time after your remodel, plumbing is a wise investment because your aesthetically pleasing kitchen tapware, toilets, or showerheads are only as effective as the pipes from which they are fed.

Similarly, plumbing provides value for potential buyers, who will be reassured that the house renovation has been handled responsibly. They want to know the things they can’t see are in great condition, which means plumbing is an invaluable selling point not be overlooked. If you need help with plumbing in your remodeling project, Fletcher’s Plumbing & Contracting can help. Contact us at 530-673-2489.