6 Best Tips for your Remodeling Budget

6 Best Tips for your Remodeling Budget

October 16, 2013 By Judge Fite Admin

Rather than expensive remodels or additions, consider these ways to keep your remodeling budget feasible:

Work with the original floor plan. Whenever possible, consider what remodeling or renovation you can fit in with the original floor plan. As soon as you start looking at structural remodeling, your costs increase significantly. Perhaps you can remove a closet to make more room in a bathroom. Or strategically move some cabinets in the kitchen instead of expanding the entire kitchen. Considering remodeling and enclosing a garage instead of adding a room. Or upgrade a porch to a sunroom. When you look at adding an entire room to the footprint of your existing house, you have increased costs of foundation and roofing.

Keep your current plumbing. Along with structural remodeling, any time you have to move plumbing you add significant cost to your remodeling project. Perhaps if you are wanting to expand your kitchen, you will be able to move the sink only slightly and still use the existing plumbing. Or add a project needing access to water on a wall opposite a current bathroom or kitchen. Even if you were to build an entire addition and not stick with your current floorplan (above), that would be significantly less expensive if you do not add plumbing.

Use lighting well. Sometimes strategically adding lighting is all you need to brighten up a current floorplan or make it more user-friendly. You can use lighting to accent decor or other features. Or use it inside a closet – you won’t gain closet space, but you will be able to use it more efficiently. Add lighting under kitchen cabinets to expand the use of your counter space.

Invest in quality rather than quantity. For example, well-designed kitchen cabinets can give you much more efficient use of storage space than poorly-designed cabinets; so rather than buying more cabinets, you may be able to buy a better design. Perhaps you have a lot of traffic on your floors (kids, animals); in that case, investing in quality flooring may make cleaning easier and help your floor last longer. Need more closet space? Perhaps rather than building more closets, you can invest in closet organizing systems to get better use out of the closets you already have.

Get an energy audit. While you’re considering remodeling, also consider those upgrades that can save you money in the long term. Most energy companies will do energy audits at no cost, and show you where you are losing money. Investing in some weatherstripping around your doors, or upgrading to more energy-efficient windows can provide a long-term benefit for the amount of money you spend to upgrade.

Budget extra for contingencies. Always put aside an extra 10-15% of your total budget for anything unforseen. While remodeling can end up bringing some headaches, even worse would be for you to run out of budgeted funds before it is complete. Especially on older homes, your contractor may go to tear out kitchen cabinets only to find something else that needs a repair. Those unknown circumstances can add up in the end, so it’s always best to be prepared.