The new year is a great time to start thinking about budgeting for your home projects.
Angie Hicks, chief customer officer and home expert at Angi says every home project should start with a clear budget, no matter how big or small.
“Creating a budget should be the first thing that you do when starting a new home improvement project,” Hicks said. “Also talk to friends, family and neighbors about the prices they paid for similar projects. Contact your contractors and find out what estimates they have. All of this will help make you an informed consumer.”
If you’re not sure where to start on that budget, you can check online cost guides that can give you estimates on what to pay.
After doing your research, decide on a realistic budget that you can stick to.
Budgets that are too strict or too loose can end up costing you more money and stress down the road.
“Once you have your rough budget outlined, now is the time to start laying out the details,” Hicks said. “Keep in mind that materials oftentimes are the largest portion of your budget, so pick out materials that will fit within your budget.
Once that’s determined, then start thinking about the labor. Is this going to be a DIY job?
If so, make sure that you leave room in the budget for any types of tools that might be necessary. Now is also the time if you’re going to be hiring a pro to contact them to determine their estimate.”
Hicks said renovations can lead to unforeseen problems. So it’s always a good idea to budget an extra 10% into your budget for these types of things, like a busted water pipe or electrical issues that pop up throughout the project.
By planning ahead, you won’t be surprised.
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