Are you in desperate need of more space, up-to-date fixtures, and a more practical home design? You don’t have to sacrifice a great location or deal with the stress of moving to create the home of your dreams. Many people find that home remodeling Austin is a more practical solution that allows them to customize their perfect result choices. While it can save you money down the road, home remodeling often requires some high up-front costs. Fortunately, you can create a realistic budget with the right planning that still allows you to reach your goals.
KEEP IN MIND THE AVERAGE home renovation budget
The total cost of your home improvement project depends on numerous factors, including:
- The overall square footage
- The type and function of the space
- Making cosmetic versus structural changes
- The quality and quantity of the materials used
In general, bedrooms and bathrooms are the cheapest, with the national average ranging anywhere between $6,000 and $15,000 per room. Basements are next, costing the average homeowner $11,000 to $29,000 for the entire project. Kitchens are usually the most expensive, averaging $13,000 to $37,000. Remember that these prices will vary based on the factors mentioned above so that you could spend a little more or less depending on your tastes.
Consider Your Home’s Overall Value
If securing your home renovation funds isn’t an issue, you should still keep your home’s overall value in mind as you set your budget. Otherwise, you may lose your investment in the future should you decide to sell your home. In general, a bathroom renovation should be somewhere between three to seven percent of your home’s total value. Bedrooms and living spaces should be a little less, while kitchens should land somewhere between five and fifteen percent.
TALK TO A FINANCIAL ADVISOR ABOUT YOUR PLANS TO REMODEL YOUR AUSTIN home
While you may have some savings built up, chances are you might need a loan to help you finance your home improvement project. Hestia Construction & Design can help you finance your next remodeling project. We can help you choose the right loan for you based on your income and credit history.
ASK A HOME REMODELING AUSTIN EXPERT FOR ESTIMATES
Once you have a general price in mind, it’s time to get some real numbers from local experts. Follow these steps below to help you get the most useful information.
Create a List of All Possible Projects
From top to bottom, list everything in your home you’d like to improve, no matter how big or small the project may be. Include your dream projects here as well. You may find that you’ll save more money overall by doing one large home remodeling job than several smaller ones.
Schedule an Appointment With Multiple Companies
Once your list is complete, start researching local contractors experienced in the type of work you need. It’s best to schedule multiple estimates so you can compare prices and get the best value for your money. Be sure to ask if there are fees for an in-home estimate.
Weigh the Pros and Cons for Each Option
Now it’s time to sit down and choose the right company for the job. You’ll want to consider more than just the estimated price here. Be sure to ask about the expected time frame and which finishes you’re able to choose. While one company may be cheaper, another may offer more variety, faster service, or better customer service.
Categorize Each Individual Project to Help Set Priorities
While it’s good to have a complete list of all possible projects, you may need to prioritize to help you stay within your budget. Think about the true nature of your investment here: are you looking to make your home more enjoyable for your family or increase its value. This can help you determine which projects to complete now and which ones can wait.
Achieving the home of your dreams may be easier than you think with home remodeling in Austin. AtHestia Construction and Design, we have the experience and expertise you need to help you make the most of your budget while still achieving stunning, quality results. To learn more about how we can help you finance your remodeling project and design your perfect home, contact us today.
How To Set a Budget For Your Home Remodeling in Austin | Hestia Construction & Design — Houston, Texas