If you’re planning home improvements, big or small, it’s important to understand how much they’re likely to cost so you can properly plan and set a budget. So, how much could you expect your home improvements to cost and how do you figure this out? Let’s look at some tips and things to consider.
How much can you afford?
The first step should be determining how much you are willing and able to spend on your home renovations. Think about how much money you have to spare and also consider how much is reasonable to spend on your renovations. Renovations can help to increase the sale value of your home, but only to a certain extent, so don’t go too overboard. One rule of thumb is to spend no more than 10-15% of the home’s value on remodeling a single room.
It’s advisable to set your budget as 10-20% less than what you can comfortably afford. Things might go wrong that cause your project to run over time and over budget, so it’s a good idea to plan for this and have a cushion ready.
What improvements are you planning?
Once you know how much you’re planning on spending, it’s time to think about what improvements you want to make. With your budget in mind, you can then determine how much you can spend on each aspect, especially if you’re remodeling multiple rooms. This is a good time to decide your priorities. Where are you willing to compromise in order to stay under budget?
Start researching costs
You can do some research online to help inform your budget. Websites like HomeAdvisor give you average costs for different projects and installations. And you can easily check for prices of things like furniture and kitchen appliances online. This kind of research will help you start to get an idea of the overall costs. When you’re ready, call local providers and laborers to get an estimate for your project, including the cost of materials and labor.
Get help from online tools
You can find websites and online tools that will help you estimate your project costs based on different factors. For example, our Project Estimate Tool helps you create a realistic budget for your kitchen remodel based on dimensions, materials, countertop edges, appliances, and more factors.
If you need countertops or other natural stone features and accents for your remodel, then contact Amanzi Granite to find out more about our stone and our expert installation services around Winston Salem, Greensboro, High Point, and Kernersville.