Now that you have a better idea of how to research your upcoming remodeling project and what the likely cost of the project will be, it’s time to settle on your budget. Having an initial budget is an essential first step for any remodel, even if you decide to change it later. Here are some tips for budgeting when you’re planning a kitchen remodel in Seattle.
Establish your priorities. Before embarking on any remodeling project, you should sit down and write up a wish list. Ask yourself which aspects of the project are essential for you, and which aspects you are flexible about. If you wish to emphasize using only the highest quality materials in your remodel, for instance, there may be other areas in which you can afford to cut costs.
Decide what your role will be. Many homeowners choose to handle certain aspects of their home remodeling projects themselves. Taking on certain tasks—such as demolition—can help you save time and money. You may also want to supervise the labor yourself. It’s important not to overextend yourself, however, as this can be harmful to the project. Be realistic about how much time you can commit to the project and how much you can accomplish on your own.
Tell your contractor what your budget is. It’s important to be open and up-front with a contractor about your budget for your remodeling project. If you are on a tight budget, be clear about that. If a contractor knows what your financial expectations are, he or she will be better equipped to shape the project to your needs and priorities and help ensure that you are satisfied with the results you get.
Set aside more money than you need. It’s always important to be prepared for unexpected costswhen you’re remodeling your home. Having an emergency fund of about 20 percent of your budget will ensure that you’re covered in the event that you need to spend more than you anticipated.