Tips on Planning Your Home Remodeling Budget

In the last few blogs, we’ve been focused on home remodeling to make your home better suited for today’s needs. We have discussed budget several times without really talking about the type of budget you may need to complete a remodel. Today, we’re going to talk about budget as a design/build company, meaning you won’t need a separate budget for an architect, designer and contractor. A design/build company handles everything from the planning through completion. 

Why Choose a Design/Build Company

Your budget will go further! There are three main elements in any remodel:

• Space layout – Usually handled by an architect
• Appearance – A designer helps with this aspect
• Construction – Done by the builder or contractor

When you hire three companies, you have to pay three different companies. If you instead choose a design/build company, you have just one entity to pay, which often reduces your overall cost. Another reason to use just one company is that you’ll have one main point of contact throughout the project and they can communicate to the various teams. If there’s an issue, you have only one company to talk to about resolution; whereas, if the builder can’t make the design from the architect work, you’d have to work with both companies and hope they can find a resolution. In short, working with a design/build company is easier and often more affordable!

Remodeling Budgets

When discussing a remodeling budget, the first thing to know is that they vary greatly depending on the size of the space, the quality of the materials and the elements you choose for the space. However, there are a few guidelines to consider with any remodel.

• Don’t spend more than 15% of a home’s total value on remodeling any single room.
• Plan for the unexpected by setting aside at least 10% — but as much as 20% — in reserve.
• Know what other homes in your area used as far as materials and don’t over-invest or you may not get a good return on your investment. Also, don’t choose inferior products; your home may not sell as quickly or for a fair price if you’re competing against other local homes.
• Utilize online resources to get an idea of budgets. Remodeling’s Cost vs. Value Report contains detailed information about the most common remodeling project costs and ROI for regions throughout the country.

You should also know that when you first talk to a design/build company, they will give you a range for the project. That’s because, depending on the cabinet line, countertop, tile and other elements you select for your remodeling project, your cost could vary by thousands of dollars. 

G.M. Roth Design Remodeling Is Your Local Design/Build Company

We can help you, no matter how big or small your home remodeling project. We offer quality products from many manufacturers at various price points. Based in Nashua, G.M. Roth services New Hampshire north to Manchester and south into the northwest suburbs of Boston. Call us today at (603) 880-3761 or fill out our contact form to schedule your free initial consultation.