Renovation Budget Planning

Start with Assessment

List everything you want to accomplish. Separate needs from wants clearly. Research realistic costs for your area. Add contingency for surprises.

Contingency Planning

Add 15-20% for unexpected issues. Hidden problems common in older homes. Scope creep happens regularly. Better to plan for overages.

Prioritization

Address structural and safety first. Systems before aesthetics. Kitchen and bath return best. Phase work if budget limited.

Financing Options

Home equity loans common. Renovation mortgages available. Cash reserves recommended. Compare rates carefully.