Maximize Your Remodeling Budget

Posted on by Satin Touch

Maximize your remodeling budget with these tips. Making your vision come to life without reconstructing your whole house is what we do. That’s why we say “Homes Reinvented”.

One of the things we specialize in is working to find the best solution for your home, and your budget. The thing is, every project should have a budget, and ‘budget’ isn’t a bad word. A budget is a price guideline to ensure that everyone arrives at the same destination. 

A budget can be a few hundred dollars to a hundred thousand. But usually its somewhere much more comfortably in the middle. 

What is a remodeling budget?

We all know what a budget is, it involves number and money, but what makes a remodeling budget different? And you can’t maximize your remodeling budget if you don’t have one right?

The budget you plan and set aside for remodeling should take into account multiple factors like:

  • What type of project you want done
  • What quality of materials you want to include
  • Is any of it going to be DIY
  • Does plumbing or electrical need to be moved
  • What are others being charged in your area

… and so on.

Renovated laundry room with dark cabinets and a farmhouse sink. A window looking out from over the sink lets in natural light, and the stacked charcoal gray washer and dryer bring the room together. This is a great way to maximize your budget while doing a remodel.

How do I make a remodeling budget?

One of the best ways to put together a budget is to look realistically at what you can spend. Or look at what you can borrow if you plan on a large scale remodel or renovation. Most contractors will have a threshold payment system setup. This is where you pay a deposit of some sort, and then pay pre-determined amounts at other milestones. 

Many contractors will offer an estimate where they will come out to your home. They will take measurements, photos, and talk through your vision with you. They then go back to their office and put everything through pricing and estimation systems that factor in all of the things you might not. Schedule your free estimate from Satin Touch today!

(Do waste percentage, 40-yard or 50-yard, tape and mud, or site preparation really mean anything to you? If they do great! But if not, you’re in the right place and hiring a contractor should be on your horizon.)

Having a contractor (or contractors) give you bids will help you get an idea of exactly how much this is going to cost. You should always keep in mind that changes might happen throughout the process, so keeping a little wiggle room in your budget, about 10-15% is recommended for when things come up that could not have been planned for. Once you’ve found a company you like and have a project within your budget, its time to get started.

If you’re wondering how much your kitchen remodeling should cost, the answer isn’t simple. And it’s going to vary state to state, city to city, and even company to company, so my best advice is to get some estimates and shop around a little bit.

And how do we stay within that budget?

If you’re going the DIY route, you will want to make sure you are keeping track of everything you buy and every penny you spend. This will help you ensure that you’re not going over budget, as well as having a carefully thought out plan. The other thing you will want to do with DIY remodeling projects is to plan to go over budget, and build that in. So earlier I mentioned 10-15%, but going the DIY route means you should follow the 

If that sounds like a lot of work that you’re not interested in, hiring a contractor who does all of that for you is a great option. It is quite literally their job to make sure things stay within budget for you and for them, plus they organize all of the appointments, inspections, and other mundane but important aspects of a great remodel. Maximizing your remodeling budget starts with having and keeping within your budget to begin with. 

I came here to read about maximizing my budget though, how do I do that?

There are many ways to maximize your remodeling budget, and here at Satin Touch, it’s one of our favorite things to do, and to talk about so let’s get into it. 

Plan your space wisely

When you get the idea that you want to remodel a part of your home, your probably head over to Pinterest, or Google to find some ideas an inspiration. But the likelihood that those spaces look and function just like yours is pretty low. Having inspiration and ideas is great, don’t skip this part! But make sure you are keeping your space in mind. Remember small changes can make a big impact.

In your kitchen try to keeping plumbing and electrical in the same places. Want to move or remove a wall? Are there outlets there that will need to be moved too?

Consider what is really important

Having a list of needs and wants ready to go when you set out is important. These will be different for every project too. One kitchen may need more overhead lighting and want extra counter space. While another might need a different cabinet layout and want more lighting. Your designer and contractor can help you decide which trade offs are worth it, and where it might be the right place to spend the extra money. 

Start planning early

It’s never too early to start thinking about your plans. If you want to remodel your kitchen in two years, spend a couple of weeks really paying attention. Look at things that work or could use some updating or ways that you could make your space more efficient for you. 

Let’s wrap it up

We talked making a budget, sticking to it, and maximizing your remodeling budget. From space planning to your top priorities and planning you should now have an idea of where to get started with your remodeling budget. 

Leave a comment below if you have any questions.