How to Get the Most Out of Your Remodel Budget

One of the biggest concerns when approaching a remodel is how to maximize your budget to get the most for your hard-earned dollars. Here are a few tips on how to stretch those dollars to get more of what you want.

Make the Hard Choices Early
If the dollars are limited, it means we may need to pick where we apply the budget. This means that if you are remodeling your kitchen, we may need to be making either-or choices. The homeowner needs to decide what holds the most importance in the project. Do they want top-of-the-line custom cabinets, or would they rather splurge on hard surface countertops? Is vinyl flooring enough for your lifestyle, or are hardwood floors an absolute necessity?

There are hundreds of these small decisions, and they all add up to make the budget. This is part of the reason we at The Building Company have elected to utilize a Project Development Agreement (PDA). We have found that the earlier we have these conversations, the better. It eliminates high-pressure decision-making and makes the project flow more smoothly. It also has the benefit of knowing exactly what you are going to be charged before a hammer swings or dirt moves on site.

Choose a Reputable Contractor
There are a lot of ways to make a project “fit” the budget. This can include providing allocations that are much too low for certain parts of the project or certain fixtures and then charging for the overage at the back end. Or leaving parts of the scope out and then charging change orders when the project is nearing its end. We believe that reputable contractors clearly define the scope beforehand and will always try to select materials before the start of a project.

The reality is that if you don’t feel like you can trust the person remodeling your home, you are taking a huge risk. Check reviews or references—any contractor that is doing good work should be unafraid to let you speak with previous clients or read their reviews. When a contractor runs out on you or has poor business practices, you as the homeowner end up paying the price.

There are lots of reputable contractors in the Spokane and Coeur d’Alene area, and you can always look at the Spokane Home Builders Association and the National Association of the Remodeling Industry to find contracting professionals that adhere to strict ethical codes.

We tell people often, “If you don’t feel like you can trust us, you shouldn’t hire us.”

Try to Make as Few In-Process Changes as Possible
Changes do happen on nearly every project. Plan accordingly. Make sure that you have a frank discussion with your contractor about how changes work, what the process is, and whether you should hold anything in reserve for the project. The reality is that when a scope or material is changed, it does two things: it adds time to the duration of the project (potentially significant time depending on delivery dates), and it also changes the cost. This cost will generally be above what was previously budgeted—especially if it means removing or altering work that was already completed.

This is where the planning portion of the project really pays off. We believe that we can run a project that sticks more closely to the budget if we plan the project beforehand instead of figuring it out as we go. We can avoid many of the budget overages and project delays that you hear in the horror stories about construction.

Doing a home remodel can be done while being budget-conscious. Just remember these small tips the next time you are looking to do a renovation or construction project on your home. We here at The Building Company love to aid in the project development. If you like the sound of a well-planned, budget-conscious project, please don’t hesitate to reach out to us with an inquiry or a call.

Ryan Kinney, President, The Building Company