Project Remodel Plan- 6 Ways to Price out Your Next Home Improvement Project

Project Remodel Plan – Remodeling a home is an expensive proposition. It’s all too easy for a home improvement project to become far more expensive than it’s worth.

If you’re trying to map out your next remodel without things spiraling out of control, it’s important that you approach your planning the right way. Here are a few tips to keep in mind as you prep for the next step in your home owning adventure.

1. Do Your Research

The first step in any home remodel is taking the time to do your research. Never rush the planning phase of a project.

An unthought-out project is one of the easiest ways to go over budget. It leads to multiple trips to the store, unnecessary purchases, and avoidable mistakes.

If you aren’t willing to take all of the time that’s needed, you might as well give up planning ahead altogether. A well-executed remodel is predicated on thorough research and planning. So make time in your schedule before you break ground on your next project.

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2. Find the Right Tools

Along with taking the time, it’s also important to find the right tools to help you price things out properly. This starts with a good calculator but should go much further.

One helpful tool is setting up an official account at your local home improvement store. That way you can price out what materials will cost at your local location.

The home improvement experts at Angi have also created the Project Cost Center. This is a powerful tool that can help you quickly assess what a particular project might cost.

The re takes into consideration multiple factors. It includes details about different size projects, square footage costs, personal versus professional estimates, and even average costs in local cities around the U.S.

3. Lean on Experience

Experience is a powerful friend — especially in the unforgiving world of remodeling. To be fair, the actual construction process can be quite forgiving. However, the costs associated with fixing and adjusting poor decisions are difficult to mitigate after the fact.

One way to properly price everything out from the beginning is by leaning on professional help. Along with using quality res like those referenced above, if you have anyone who has actual remodeling experience, ask for their advice.

Talking with an experienced professional can reveal hidden expenses that you might not have thought about. It can also give you a better idea of what a project might cost in your vicinity.

4. Know Your Boundaries

Next up, don’t just plan your remodel with the project itself in mind. You should also keep your personal budget in the mix, too. In fact, it’s wise to start things off by budgeting what you can afford in the first place.

The good news is that there are many ways you can fund a home remodeling project. Bankrate details several of these, such as using savings, taking out a personal loan, and putting smaller projects on credit. You can also pay a professional to save you time or do things yourself to reduce costs.

Regardless of how you pay for your next project, though, start with a solid budget in mind. Figure out what your maximum spending ceiling is. Then work within that. Knowing this beforehand will give you a natural boundary to help keep your planning from getting too expensive.

5. Pad Your Numbers

Home improvement projects are always unpredictable. You might plan to spend $100 on 10 pieces of wood …only to find that you actually need to spend $120 on 12 pieces of wood. The same principle applies to practically every other material you might use on your remodel site.

In order to keep your costs down, do your best to pad every number as you plan. If you think you need $100 for wood, plan on $125. That way, if you need a couple of extra pieces, you’ll still stay within your budget.

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6. Stay Flexible

Finally, do your best to approach your home improvement efforts with a flexible mindset. You might have a mental image of exactly how you want the project to end up — but don’t let that tempt you to go over budget or make reckless decisions.

If you find that a part of your project is getting too pricey, look for ways to reduce your costs without sacrificing too much of your final vision. This is a great way to walk that tightrope between budgetary constraints and construction limitations. If you can do that, you’ll end up with a remodel that is the closest thing to your original vision and is still within your actual budget.

Planning out a home improvement project isn’t easy — especially if you don’t have much experience in the construction world. It’s important to take things one step at a time.

Start by setting aside an appropriate amount of time to do your planning. Then, use that time to gather res, get expert opinions, and set budgetary boundaries. Throughout the process, remember to pad your numbers and remain flexible in your decision-making.

If you can stick to this formula, you can successfully execute your next remodel under budget and according to plan.