Are you planning a home renovation in 2020? Consider the following as you create a budget for your home renovation plans.
Determine your top priorities
It is easy to get carried away and get side-tracked from what is most important to you. This is also why you want to write down your priority list in order of what is most important to you. For instance, if you are remodeling your kitchen and new countertops are your main priority, put them atop your list. This should help keep you from getting distracted from other projects like a new backsplash or new appliances.
Determine if the investment makes sense
Do you plan to sell your home down the line? It is important that you keep the return on the investment in mind as you choose any home remodeling project. While many home improvement projects make improve your quality of living now, they may not bring you a return on your investment. For example, many homeowners will go overboard when it comes to remodeling their kitchen by choosing high-end renovations when they may not necessarily increase the resale price of your home down the line.
Obtain multiple quotes
Before you invest your money into a home remodeling project, you want to be sure to do your homework. This is where many homeowners go wrong. If you intend to use a general contractor, it is a good idea to get quotes from at least a few different contractors. Renovation estimates can differ drastically; however, it does not mean that you should necessarily go with the person who quotes you the lowest price. It may mean they are inexperienced, or they are not telling you the full cost of the project. Be sure to take your time and carefully choose the best contractor for your exact situation.