Make a realistic budget
When it comes to our home, we all want more than we want to (or can) pay for. But lowballing your reno budget just to get a project going typically won't work out so well in the end when the numbers start to add up and you don't have enough money to comfortably finish it. Planning out a project well and doing sufficient research to come up with legitimate numbers is key.
"To calculate how much remodel you can afford, follow these four steps: Ballpark the cost, establish a spending limit, get quotes from contractors, and set your priorities," said houselogic. A fifth, very important step is this: Once you arrive at that magic number, add more money to it. "Add a 15% to 20% contingency for the unforeseen problems and changes that occur on every project. Is the total still within your ability to pay? If so, you're ready to get started. If not, it's time to scale back your plans."
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