Sometimes the hardest part of renovating your Kelowna home is figuring out how to budget properly. You have endless ideas of how to update the kitchen, add a bit of colour to your family room or rip out the carpet in the hallway but it all boils down to “how much is this going to cost?” If you are looking to do a Kelowna home renovation and are looking for ways on how to budget properly, check out our top three tips and tricks.
Do your Research and Establish a Budget
One of the easiest ways to budgeting for your home renovations is actually setting a budget in the first place. Here is the hard part… stick to it!! Every small thing you add can and will slowly add up in the end and you will end up way over what you initially budgeted for. Do your research on items you want to update, find out approximately what the renovations are going to cost. Stick to that plan and don’t go way over your budget because you see a set of handles for your doors that would look way nicer but are an extra $20 a handle.
Get Quotes for your Kelowna Home
Once you have an idea of what kind of things you want to update in your home, contact a company to get you a quote. If you have an idea of what you want, it will be way easier to quote you on the project. Don’t go to just once company, try to find three quotes for each project. For example, find three painters, three tile installers etc. This will give you variety and will help when you are trying to stick to a budget.
Account for Hidden Costs
When we budget for home renovations down to the penny, we often forget to add in some extra money just in case. Sometimes what can happen when renovating is you discover a hidden issue that has to be fixed. Most of the reason home renovations end up costing you more is due to those little hidden issues that arise during the middle of an renovation. To help with this, budget 10-20% of your budget towards unforseen costs.
If you are in the process of beginning your home renovations, contact one of our Kelowna real estate agent first! Renovations can add value to your Kelowna home if done properly. We want to ensure that the money you are investing in your Kelowna home will only help you when it becomes time to sell. Speak to one of our knowledgeable real estate agents of Quincy Vrecko and Associates today. Call 1-778-760-2860!