Creating A Budget For Your Home Renovation

We’re still at that point in early January when the new year seems to stretch ahead, a blank canvas waiting to be filled with our enviable endeavors.
Maybe you’ve made some DIY resolutions and are planning a major renovation this year. One of the most critical things to do before you begin is create a budget. It’s difficult to estimate exact numbers, but outlining approximate expenses — and what you can spend — will help keep your materials, labor and project on track.
If you’re planning a large-scale project, you may want to get an estimate from a local contractor. You can use this as a rough guideline, and make adjustments as you dive into the project.

And when you plan for materials, consider a couple of options: affordable and expensive. Maybe you can choose a less expensive tile, which would leave you more money for paint, floor coverings or something else.
It might be tough to do, but you should also tack on an extra 15 to 20 percent. Most major DIY projects always involve some hidden costs, whether it’s an unexpected fix, hiring an expert or paying for another unforeseen circumstance. By adding in this cushion, you’ll be financially prepared if needed — otherwise, you’ll come in under budget and can celebrate your financial prowess!
Have you successfully (or not so successfully) created a renovation budget? Let us know what worked for you — or what you learned — in the comments section!

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  • Allison

    Interesting read. I love the question about what his interests are outside of home improvement–is that even possible…to have a life outside of home improvement??

  • Robert

    What a great story of unexpected satisfaction, success, newfound friendships and just an all around great guy. Kevin, congrats. You’re really a natural when it comes to hosting TOH. I would love to have a group of friends like all you guys on the series. Thanks for all the Saturday morinings of watching TOH shows with my dogs and a good cup of coffee. Take care.

  • andy

    Kevin, trying to locate name of materials for tile floor for bathroom shower , membrane,mastic, foam under layment for episode shown 11-17-2912 cambridge mass