Initially, when you start thinking about a remodeling project, whether it is a Kitchen remodel, a Bathroom remodel, an Addition or some other Specialty Project, your dreams usually start big.
However, there is nothing more disappointing than having your dream remodeling project crash and burn when the contractor presents you with a contract for twice as much as you wanted to spend. This is what we call the “reality check” or “sticker shock”.
Here are some tools to help you develop a realistic budget for your project.
1. Compare – Review your project in the context of national and regional averages using the Cost vs. Value Report by Remodeling Magazine. By viewing projects of similar scope, you can get an idea of where your investment may fall.
2. Be Aware – Only you can set the budget. You need to be realistic as to what your personal/family budget can handle when it comes to something like a remodeling project. Using budgeting software can help you get a realistic view of where you are financially and what impact your project will have on your family.
3. Share – Once you settle on a realistic dollar amount that you feel you can handle, share that with your contractor. Sharing this information with your contractor will help them to tailor the scope of your project to meet your budgetary constraints.
Gehman Custom Remodeling would like to be one of the resources that help to shape your project. We can develop preliminary budget projections to guide your decision making process.
Gehman Custom Remodeling is in the business of making dreams come true without breaking the bank.
Next Time…Expectations
Q&A&C – Questions and Answers and Comments are expected and welcomed.
YOUR STORY – Tell us about your remodeling experiences, good or bad. We all have had them and perhaps you can help someone else have a great remodeling experience or avoid the issues that you encountered. Remember…keep it clean and civil or we can’t publish it.