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How to Keep Your Home Remodeling Budget in Check

To avoid financial setbacks, individuals should familiarize themselves with the most common mistakes and the best ways to avoid them when remodeling their home.

Whether individuals are planning on putting up their house for sale or are simply trying to make it more comfortable and modern, home remodels can be a large undertaking. To help make costs more manageable, most homeowners develop a budget that allows them to make their homes more beautiful without going into debt. It’s easy to stray away from a remodeling budget and wind up spending more than initially planned. To avoid financial setbacks, individuals should familiarize themselves with the most common mistakes and the best ways to avoid them.

Failing to comparison shop

Visiting the nearest home improvement store or furniture factory is certainly one of the most convenient and time-effective ways to begin a remodel project. However, it may not be the most affordable. Remodels can be expensive, depending on the type of update, the materials being used and the size of the home. For this reason, shopping around and examining different types of materials can help save owners between hundreds or thousands of dollars.

Owners should also not hesitate to look at large warehouses and outlets that may have the same materials they are looking for at a more affordable price. Lastly, individuals should speak with a professional about the quality, durability and shelf-life of various materials before making a decision on which to use. They may initially feel like they are getting a top-quality, durable product, but find that another material is actually stronger and more affordable.

Hiring the cheapest contractor

Most homeowners want to save money on contractor costs, but hiring the contractor that offers the cheapest rates without doing background research can backfire. Homeowners should ask for references, examine a contractor’s background and speak with several potential contracting companies before making a decision. This can help owners avoid hiring a professional that does poor work and being forced to pay more to have the job corrected. Learn more about finding the right contractor.

Splurging on new furniture

Replacing furniture after remodeling a room can be as costly as the remodel itself. However, there are other options to giving a room a fresh look that don’t involve tossing old furniture. If owners like the size and shape of their current couches and chairs, it can be more cost-effective to have them reupholstered with new materials. Consumers can also save money by selling items they plan to toss at a yard sale, and using the proceeds to purchase new items, MSN Real Estate reports.

Image via sheknows.com

Lindsay is the Manager of Social Media for Coldwell Banker Real Estate and is a licensed real estate agent. She was born and raised in New Jersey and just bought her first home in Livingston, where she grew up. When Lindsay isn’t busy facebooking, tweeting or instagramming she is enjoying life with her husband Joe and cat Rory. She enjoys binging on Netflix, cooking and Zumba.

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