Easy How-To Budget Home Remodel

Creating the home of your dreams doesn’t have to be a nightmare. Read our tips to make your home remodel easy by creating and sticking to a budget and plan.

The old adage is “It will cost twice as much, and take twice as long” for any project, but especially for a home remodel or budget home remodel. Making the budget is one thing, but sticking to it is another. We created an easy worksheet for your budget home remodel to help you create, research and stick to your budget.

How much does a home remodel cost?

While it varies by room and the extent of your remodel, expect to pay a few thousand dollars for a complete overhaul. In 2020 according to HomeAdvisor, most homes fall between $18,000 – $75,000 and that may not include their recommended padding of 20% for unforeseen costs.

Many times, you may not need a complete remodel and can keep your budget down by renovating or reusing existing appliances or hardware. Floors, for example, can be refreshed with paint or peel and stick tile for minimal cost while a full replacement can cost several thousand.

Budgeting for a home remodel

Creating a list of projects for each room is a great starting point to help keep costs down and the project focused. We created a handy worksheet to start a list of projects and prioritize the importance so you can keep to that all important budget. Adjust your wants and needs to splurge in some areas and rethink others, all to keep the total number in line. 

Keeping the budget in line

Splurging is easy, keeping to a budget can be hard. We have made it easy with our second worksheet to identify all the areas you want to update or touch up and add in costs. Also, created some sample worksheets for ideas with several budgets in mind for a bathroom remodel. Check out the bathroom remodel on a budget article for those sample plans and budget ideas.

Tips for keeping your budget home remodel on a budget include choosing between your wants and your needs. For a bathroom remodel, you may want a new vanity, but a more cost effective option may be a quick paint job and a new faucet to create a new look for a fraction of the cost. You can often take the savings from one area and use it to make up for higher costs in other areas.

Refrain from major gut jobs, as those projects can really increase your costs above projections. The deeper you get into tearing out drywall, tile or flooring the more trouble you may find. If you have an older home, take the necessary precautions for anything from lead paint to asbestos to previous repairs that may not be up to code, such as electrical, that you will want and sometimes need to fix.

Remodeling your house to become a home is a fun and sometimes stressful time. Reduce some of that stress by planning your budget, wants, needs and ideas ahead of time to take control of the project. Find qualified help and verify references, always get the project outline in writing, and lay out exactly what you want. With a little planning and research ahead of time, you are sure to minimize and headache, and find the vision for what you love.