Determining Your Budget During A Home Remodel

Large home being remodeled on the inside and outside with a fixed renovation budget in the Springfield, IL area.

Determining Your Budget During A Home Remodel

So, you’re looking to finally start remodeling your home? That’s exciting! We know that along with the excitement of renovation comes a worry as to how much the process is going to cost. At Capital City Home Improvement, we know how expensive home remodeling services can be, that’s why we offer our customers at Springfield, IL affordable and fair prices to give them the home of their dreams without breaking the bank. Before diving into the details of your bathroom, kitchen, or roof remodel project, we must first determine the budget. Keep reading below for tips on how to choose a realistic budget for your home renovation project!

Start with A Ballpark Number

The easiest way to start planning the budget for your home remodeling project is to come up with a ballpark number that you believe it will take to get the job done. This includes everything from the flooring and countertops to the cabinets, paint, and fixtures. Many homeowners’ ballpark numbers are either exceptionally high or way too low to be realistic, however, we think it’s a great place to start to get in the mindset of spending quite a bit of money at once. Thankfully, our contractors at Capital City Home Improvement in Springfield, IL are here to help identify the accuracy of your ballpark number and where exactly all those dollars will go in your home’s design.

Determine What You Currently Have to Spend

Small home model and house key laying on a pile of money used for a home renovation budget in Springfield, IL.

Once you are ready to start putting money towards your home remodeling project in Springfield, IL, begin looking at how much you currently have in your bank account or through personal loans to put towards your budget. A majority of homeowners use cash from their savings accounts or take out a home equity loan or line of credit to cover the expenses of a remodel. If what you currently have does not equal what your contractor has in mind for your project, you will need to assess how much extra you will need to borrow or speak to your expert contractor about eliminating areas of the project.

Get A Quote from Professional Contractors

After determining what design you want for your home in Springfield, IL, it’s time to get a quote from a professional contractor in your area. At Capital City Home Improvement, we offer FREE quotes on all of our residential home remodeling services to give you an accurate estimate of the cost of your design. We believe that we can offer you the best home remodeling services in the area, but we still think it would be a great idea for you to get a quote from at least three contractors to see what they estimate, that way you can choose which company is the right fit for you!

Set Your Priorities & Trim the Project to Fit Your Budget

Professional contractor in a tan jumpsuit and a blue hat speaking to a homeowner about their renovation budget for their kitchen or bathroom in Springfield, IL.

While everything in your home remodeling project is a priority, some are more important than others. A large granite countertop is often more important than having a custom faucet for your sink. If you stumble into a situation where you have to make cuts to your want list to afford something more necessary, our contractors at Capital City Home Improvement are here to help. If you have any questions or concerns about your home remodeling design or how to determine the best budget to redo your living room or kitchen, give us a call at (217) 710-8968.

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