Oct
20

How Can I Stretch My Renovation Budget?

You Ask, We Answer: How Can I Stretch My Renovation Budget?

Whether you’ve just closed on your Connecticut home with the help of your Calcagni agent or are looking to update the house you’ve owned for years, renovation costs can add up—quickly. We have some helpful tips to help make the changes you want to make a reality, thanks to a renovation budget that goes further. Read on for more!

Prioritize where to spend

For many of us, the thought of renovating our Connecticut homes sparks all sorts of inspiration: Let’s re-do the entire kitchen! We need to update our bathroom! It’s time to finally fix up the basement! But as reality sets in and we see what our budget actually is, it helps to prioritize where we want to spend our money.

Allocating funds toward the most used and viewed rooms in your house may bring you the most joy on a daily basis. For many homeowners, updating the kitchen or primary bathroom makes the most sense because they use these rooms every day. For other homeowners, fixing up a powder room is a priority—and because of their smaller footprint, powder rooms can be a less expensive renovation option. Finally, foyers or mudrooms may also make the priority list, as they may be the place that welcomes everyone into the home.

While we’d all love an endless stream of cashflow to fix up our houses to match our decorating dreams, prioritizing where to spend can go a long way in stretching a renovation budget.

Consider a little compromise

It’s hard to think about compromising before you’ve even finalized your renovation plans, but doing so may help you stretch your renovation budget so you can really elevate the rooms that matter.

Some simple ways to compromise include opting for more cost-effective lighting options in rooms that are not a focal point (like the bedrooms) and swapping out the expensive hardware you’ve been eyeing for something similar at a fraction of the cost. Planning on updating more than one bathroom? Go for that marble countertop in the main bathroom, and consider compromising by using a budget-friendly vanity top in the kids’ bathroom.

Lastly, one compromise that may save you tens of thousands of dollars? If you’re renovating your kitchen and your cabinets are in decent shape but just need updating, consider swapping out the fronts of your cabinets only, or work with companies like Semihandmade to install Ikea cabinets with custom-made cabinet doors.

Combine your projects

It may seem counterintuitive that combining projects in your home will save you money, but it may do just that. In fact, having contractors work all at once in your home—and finish the projects at the same time—may save money, time, and your sanity.

From getting your permits filed simultaneously to paying a project manager to oversee combined projects, you may save significant money. And, contractors usually give a price break if they can tackle multiple projects at the same time.

Finalize design first

It’s common for changes in renovations to happen as the project continues—but finalizing design as much as possible before renovation starts can save you a lot of stress while helping to stretch your renovation budget.

If you’re working with an architect, you may have a limited amount of amendments included in your contract, so last-minute changes may end up costing you a significant amount. Permits for structural changes, depending on where you live, may also be quite costly. Finalizing the design for your renovation may help prevent these expenses, as can planning where you want seemingly smaller changes like which materials you’ll use, or where you want outlets and lighting, which will save your electrician from doing extra work later on.

With a little planning and ingenuity, you just may be able to stretch your home renovation budget to create the Connecticut home of your dreams.