How To Decide Your Budget for a House Remodel

Homeowner going over plans with a home remodeling contractor in Springfield, IL about current kitchen renovation project

How To Decide Your Budget for a House Remodel

It’s an exciting time when you’re considering remodeling your house. We know that with the excitement of a renovation comes the concern about how much the whole endeavor is going to cost. At Capital City Home Improvement, we know how expensive a home remodel in Springfield IL can be, which is why we offer budget-friendly prices to our customers so they can create the home of their dreams without breaking the bank. Prior to diving into your bathroom, kitchen, or home remodel, you have to first determine your budget. Use the following suggestions to select a reasonable budget for your project!

Start with A Ballpark Number
The simplest method to begin the budgeting process is to come up with a ballpark number that you think will get the job done. Consider fixtures (such as faucets and lighting) and finishes (such as paint). Also take furniture, flooring, cabinets, and other larger items into account. Most homeowners’ ballpark numbers are either extremely high or too low to be realistic, but it’s still a great place to start to help determine what steps will be needed to prepare funds for the project. Fortunately, the professionals at Capital City Home Improvement are here to help determine how realistic your ballpark number is and adjust it as necessary. If estimating the cost proves to be difficult, just determining how much you have to spend on the project in general is a good start.

Identify How to Fund the Project

Once you are ready to begin putting money towards the remodel, determine how much you have in cash to spend vs how much you may have to finance. The majority of homeowners use cash or get a home equity loan to cover the expenditures of a remodel. Additionally, Capital City offers financing options to their customers. If what you currently have in reserves is not quite enough for the project, you will need to evaluate if financing may be necessary, or if you’ll need to cut some things out of the plan to save money.

Get A Quote from Capital City
After determining your budget and desired style for the remodel, it’s time to get a quote Capital City Home Improvement! We provide FREE quotes on every service we offer in order to provide an accurate estimate of what your project will cost. We believe that we can provide the best services at the best price in the area, however, we still think it’s a great idea to get a quote from at least three professionals so you can select which company is the best fit for you!

Establish Your Priorities & Adjust the Job to Fit Your Budget
While everything in your home remodeling project is going to seem like a top priority, some things are more crucial than others. Making sure you have enough funds to finish the project start to finish is more important than choosing a super fancy custom fixture, for example. If you stumble into a circumstance where you need to make cuts to your want list to afford something important, the professionals at Capital City Home Improvement can help. If you have any concerns about how to go about planning your remodel, making adjustments to your plans, or just budgeting n general, give us a call at (217) 710-8968.

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