SWEET HOME RENOVATION PART3: BUDGETING FOR YOUR HOME RENOVATION
My husband, Adam, and I are working on our home renovation and my sister, Cynthia, hopped in to assist us with the renovation and show off her skills!
We’re very excited to share our home renovation journey with you.
Here are some tips for budgeting your next renovation.
Tip 1: Create a list of “must haves and nice to haves” for your home renovation. “Must haves” are the most important items needed to accomplish your renovating goals. A couple “must have” renovations for our home are A/C, hardwood floors, and a new kitchen.
“Nice to haves” are renovations items that you can do if you have extra room in your renovation budget. A couple“nice to haves” for our home renovation include Restoration Hardware sconces and pendant lights. Creating this list of “must haves and nice to haves” will help you prioritize items in your budget.
Tip 2: Create a budget. We found creating our budget on an Excel Spreadsheet was very helpful. There are many YouTube tutorials on how to create an Excel spreadsheet.
Here you will make a list of all your expenses and assign a price to it. Revisit your spreadsheet weekly to fill in expenses. You can keep amending the budget to stay on track. Leave a 20% buffer in your budget for unexpected expenses.
Tip 3: Always price compare when looking for contractors and home renovation supplies.
If this is your first renovation, we strongly advise you hire a licensed contractor.
Research and price compare contractors by getting at least three bids.
Watch our Youtube video below on budgeting for your home renovation.
We hope these budgeting tips we're helpful. Stay tuned for more of our ”Sweet Home Renovation” series of blogs and videos.
The Sweet Life by Brittany + Cynthia Daniel