A proper budget is one of the main concerns of any home remodeling project. Your preparation can make or break the entire project. Legacy Design Build Remodeling, the area’s top home improvement contractor, shares four expert tips to help you prepare a remodeling budget.
Establish a Budget Early. You don’t have to create an accurate budget at first; an estimate is fine. This is simply to give your contractor an idea of what they would be working with. When discussing plans, presenting a ballpark figure can also help you create more realistic choices, leading to successful results.
Budget for Emergencies. Set aside 20 percent of your tentative budget. As an experienced home remodeling contractor, we know that when it comes to renovations, different situations may arise that can increase the overall cost of the project. These are hard to foresee at the beginning of construction and usually mess with your schedule and budget, so we recommend preparing a contingency of at least 20 percent to ensure your project’s smooth progress.
Understand the Contract. Your contract may specify hard costs, furniture, materials, and fees, but what exactly are you paying for? Feel free to ask your team about the budget numbers. Hard costs usually include the fixtures that are required to build the structure while soft costs include the fees for consultants, designers, and permits.
Allow Changes. As your contractor comes up with designs and material suggestions, there will be opportunities to reduce your cost by changing the scope of your project. For instance, instead of a major kitchen renovation, you can choose to update select furniture or change the color palette of the room to refresh its look. As an expert in kitchen remodeling, we can help you achieve the results you want without emptying your bank account.
Turn to Legacy Design Build Remodeling for all your renovation needs. Call us today at (480) 372-5001 to learn more about our services. We serve Phoenix and the surrounding AZ communities.