Refreshingly Simple Budgeting Tips for Your Next Big Reno
A big renovation is almost always a complex operation of moving parts and people. You don’t need your budget to complicate things.
Check out these refreshingly straightforward tips to help plan a reno you can afford without the added stress!
Ask Yourself, Is My Budget Realistic?
This is an important question to ask yourself before you start anything. You need to make sure what you’ve chosen is:
- something you can actually afford
- a practical limit for the work that you intend to carry out
Be honest with yourself. If you have any second thoughts, it’s better to address them now rather than half-way through a project when your money is on the line.
Scale Back
When you’re excited about changing your space, it’s easy to start planning around a clawfoot tub, an open concept living space, and an outside entertainment system.
But these ideal upgrades usually come with the biggest costs, making them challenging additions to a small budget.
When you’re working with limited funds, you have to scale down your plans, so they match your budget. It’s important to note that it’s just not possible to do some things, no matter how hard you scrimp and save.
Once you figure out what you can realistically afford, focus only on those improvements. Don’t torture yourself by looking at high-end furniture or luxury remodeling tips online.
Give Your Budget Some Breathing Room
Plan all you want, things you can’t anticipate may derail your plans — and your budget, too!
Let’s say you discover there’s black mold growing in your basement after ripping up old carpet. You can’t have your family breathing that in. Or, you might notice there’s a large crack in your foundation that needs to be repaired.
Padding out your budget can help you take on these additional jobs. Most experienced contractors and builders suggest you add at least an extra 10 percent to your basic budget just in case.
If you fall short of what you need even with this cushion, an unsecured line of credit may help you. An unsecured line of credit is fast and uncomplicated—especially when you find it online.
Going online helps you shop around without every having to leave your home. And it’s easy to
learn more today about the online process of an unsecured line of credit. You may find an unsecured line of credit designed specifically to help with unexpected expenses and repairs.
Once you’re approved a credit limit, use only as much as you need. If there’s anything left over, don’t use it as an excuse to buy more than you can afford on non-essential upgrades and cosmetic renovations.
Keep it Simple & Budget Well
Dreaming up a facelift for your home is the easy part. Coordinating every professional you need to start working is the hard part. But the most challenging task before a big renovation? That’s finding the money to make it all happen.
Take some of the stress out of it by remembering the above tips. You can still make changes to your home as long as you scale your project to your finances. Just take it slow and think about your budget carefully. It can help you make your reno a reality
