4 Smart Ways to Budget Your Remodeling Costs

If you are thinking about remodeling your home or modernizing your kitchen or bathroom, you are probably wondering how you will pay for the work. The cost of a full house remodel can easily reach five or even six figures, and even a simple room remodel often costs thousands.

That may be why so many homeowners turn to home equity loans, second mortgages and lines of credit to finance the cost of their home remodels. While that is always an option, you do not have to go further into debt to enjoy a more modern home. Here are four smart ways to budget your remodeling costs and avoid unnecessary liability.

#1. Make Strategic Upgrades

If your budget does not support a full kitchen or bathroom remodel, consider making a few strategic upgrades instead. You will be surprised at the difference a new set of stainless steel faucets will make in your kitchen, or how a new standalone vanity will make your bathroom more attractive. The great thing about this strategic approach to home remodeling is you can do a little at a time as your budget allows. Instead of going deep into debt and having your home torn up for months, you can do one project at a time until you have the home of your dreams.

#2. Consider Consignment Stores

Believe it or not, there are now consignment stores and resale establishments that specialize in construction materials. Some of these construction materials are brand new— leftovers from that recently completed development. Others are gently used, things like reception area furniture from closed businesses. Many of these construction-based resale stores are run by Habitat for Humanity, either on their own or in partnership with other charities. Before you head to the local home improvement store, check to see if one of these money-saving stores is operating in your area.

#3. Take a Do-lt-Yourself Approach

You do not have to be a professional contractor to do some simple home upgrades and repairs. From fixing the loose board on the patio to installing a new vanity or sink, there are plenty of things you can do to make your home look better. You should, of course, leave stuff like plumbing and electrical work to the experts. The cost of a flooded bathroom will more than eat up any savings, and the results of an electrical shock could be deadly.

#4. Contact Local Contractors

Even if you can do most of the remodeling work on your own, chances are you will need to hire a contractor at some point during the project. If you want to establish a realistic budget, you will need to start interviewing local contractors and getting estimates.

Check with your friends and neighbors who have recently had work done. Ask them whom they used and how pleased they were with the results. Once you have a list of qualified contractors in hand, you can start interviewing these professionals and establish a budget that will work for you.

Remodeling an entire home can be a daunting task, and updating even a single room can be intimidating. Paying for the price of those needed upgrades is often the biggest impediment, but it does not have to be. Smart budgeting and strategic thinking can help you get the home of your dreams without sinking deeper into debt or worrying how you will pay for it all.

6 Easy Steps To Building Your Custom Home

Many prospective homeowners are choosing not to buy existing construction in favor of building a home of their design. It is easy to see why if you appreciate the ability to design your living space with the features that mean the most to you. Figuring out what you want before you begin building gives you a good start in creating a customized home of your dreams.

Invest in the Planning Process

It is essential to put in time as well as money while you are in the planning stages of building a home. Embracing this part of the process is more likely to produce results that you love. Once construction starts, any changes you make are more likely to be expensive to initiate or nearly impossible to implement since your custom home is already being built.

Choosing a Floor Plan

Your floor plan provides your home’s layout, allowing you to see how your living space flows from one area to the next. As the basis for your new home construction, your floor plan is the most crucial aspect of your design. Start your project by reviewing a variety of floor plans and picking the one that is going to best meet your needs regarding the number of rooms, bedrooms, and baths, as well as whether you want a traditional or open floor plan.

Select Your Home’s Exterior Colors

From the colors of your home’s exterior construction to the hues selected for interior features, you have many choices to make. Begin with the exterior, picking colors that appeal to you. Choose complementary shades for the roof, siding, shutters, doors, window trim, glitters, architectural features, and other exterior components before moving on to your selection of interior colors.

Select Your Home’s Interior Colors

Once you are finished with exterior colors, start making color choices for your walls, flooring, interior molding and trim, doors, and architectural aspects such as fireplace mantels and built-in shelving. Your builder will guide you in any decisions you need to make regarding your new home construction. If you feel the need for additional help, you can also hire an interior designer to assist you in choosing complementary colors for your home.

Choose Flooring and Cabinetry Options

Don’t forget about choosing flooring options and kitchen cabinetry styles that blend well together. Take the time to consider each room individually as well as in coordination with the overall theme featured throughout your new home.

Pick a Builder Specializing in New Home Construction

When you hire a professional to build your custom home, make sure you find a builder who specializes in new home construction. Take the time to check licensing and references. Be sure to ask for a written contract that includes specific details, pricing, and timeline for completion. Figuring out what you want and putting it down on paper can make all the difference in building the custom home you have envisioned. After all, if your home is your castle, you might as well be able to love living in it. So, before you begin to build a custom home take the time to plan out all of the details