How to Budget for a Home Renovation or New Build
October 7, 2025
A home renovation is a big investment. It can be hard to know how best to plan for it, but these tips will get you started.
1. Define Your Scope
Talk to your contractor about exactly what you want your project to entail in order to get a basic idea of costs.
2. Use a Design-Build Firm to Help You Make Selections
Use a design-build firm to help you make selections before the construction process starts. This will enable you to know what to expect using real material costs instead of broad estimates.
3. Make Informed Decisions On Materials
Choose finishes and materials that are durable and long-lasting. It may be tempting to use less expensive materials to save money, but they will cost more in the long run when you have to repair or replace them too soon.
4. Expect the Unexpected
Always set aside a contingency budget of 10-30% of your total budget. This will allow you to handle unforeseen issues and even possible upgrades without breaking a sweat.
Remember that while home renovations can be expensive, they do raise the value of your home. Not only that, but they make the experience of living in your home so much better for you and those you love
