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4 Steps to Prepare a Budget for a Home Remodeling Project

4 Steps to Prepare a Budget for a Home Remodeling Project

When it comes to home remodeling, it’s easy to determine what you want. The hard part is knowing how much you can spend. With all the options available, it can sometimes be difficult to trim down the possibilities. By properly setting a budget, you can determine which remodeling tasks are feasible.

 

Tusing Builders and Roofing Services offers this four-step plan for your budgeting:

1. Ballpark the Costs

First, estimate how much your remodeling dreams will cost. Sit down with your designer or remodeling contractor to get a rough idea. This will help weed out the projects that are just too expensive to consider and focus on what matter the most.

2.  Budget Source

If you plan to borrow for the project, assess how much your loan will be and how it will affect your monthly expenses. Far too often, homeowners make the mistake of biting off more than they can chew. It’s better to work with simple renovations first and take things slowly from there. The three basic types of loan options include cash-out refinance, home equity loan and home equity line of credit (HELOC).

3. Contractor Quotes

Before seeking bids, determine what you want, right down to the smallest detail. This will ensure that prospective contractors are all pricing the same items. Whether it’s a room addition or a roofing project, get referrals for your contractors from friends, neighbors and other tradesmen. Request an itemized bid from each prospective contractor.

4. Priority and Budget Trimming

Are your dreams and budget not in alignment? Then scale down your dream — you’ll end up satisfied and solvent. Ask your contractor for suggestions for cutting costs.

Tusing Builders and Roofing Services is the general contractor that provides premier home remodeling services. Let us make your home more beautiful than ever before. We serve clients in Cleveland and Sandusky, Ohio. Call us at (866) 584-2712 for a free quote. We look forward to hearing from you.