Finding a bigger house is something our family has dealt with for many years. It’s been put off for different reasons, but we really are serious about getting our house ready this year. We’ve done some remodeling and fixing around the house, but have lots more this year.
My dream home will have a three season porch among other things. We decided that we are going to have to remodel our kitchen before putting the house up for sale. One major road block that we always hit is setting up a budget for our remodeling.
Setting a budget for your kitchen remodel and staying within it may be harder than you think!
Here are 5 Tips For Budgeting For Your Kitchen Remodeling:
1. Plan for the unexpected.
There are always unexpected problems when you remodel. Always! Especially, if you live in an older home. Believe me, everything we have remodeled cost us a bit more then what we expected. So, you should always plan an extra 10% wiggle room in your budget to cover such surprises.
2. Decide what’s most important.
When it comes down to it, you will probably have to pick what it is you want the most out of your remodeling. A new stove? New flooring? Decide in the beginning and refer back to it while planning your budget. When we remodeled the bedroom, I knew I wanted bigger closets-no exceptions. Sometimes, the little inexpensive items can add up in the long run, so you will have to make sure you stick to the stuff you want the most and not waste money on other items you don’t really need.
3. Plan the best route for payment.
When deciding how to pay for a kitchen remodel, the cost can be extreme. Deciding how to fund it should thought out before anything else. Most people take out a home equity loan. These are tax deductible, so it might prove to be a cost effective route. Other options might be refinancing, or a personal loan.
Do your research to find the best interest rates if taking out a loan. Consider using cash if possible to save on expense costs.
4. Do some of the work yourself.
If you are even a tiny bit handy, you don’t have to pay someone to do all the work. Taking out the old cabinets, Covering up vents before remodeling, and tearing up flooring can be done easily.
5. Don’t be tempted to go over your budget.
It’s very easy to get in over our head when out shopping for all the fun and pretty additions you could add to your kitchen remodel. If you find yourself doing this, remind yourself of your budget and the important items you want and stick to that budget. You’ll thank yourself later!