Top 5 Things That Can Do A Number On Your Project Budget

ProSource | 9/6/2015 | Expert Advice

There’s a home improvement project on the horizon. And you can’t wait to begin.

But you should. Before you jump in, consider how these five potential budget-busters could impact your project.

Not Setting Realistic Expectations

We’ve all salivated over home makeovers we see on TV – miraculously executed (thanks to creative editing) in the space of a weekend. However, you need to remember that your home is not a set for a TV show. And that the timeline for your project is likely going to look more like an entire season than a single episode.

It’s easy to underestimate the time, costs, difficulties and potential setbacks that come with even the smallest home improvement project. But recognizing the potential for these things can help keep your expectations more in line with reality.

Another important area for a reality check is materials. You might know what you like, but do you know if you can afford it? Some smart shopping can really pay off, but that saving money doesn’t have to mean settling for materials that look cheaper.

Working with an expert at your local ProSource Showroom can help you find options that meet both your taste and your budget.

Running In Without A Plan

A remodeling or building project is a journey. And like any responsible traveler, you’re not going to set off without planning where you’re going, and how you’re going to get there.

“The more time spent detailing the work [beforehand], the less likely there will be misunderstandings and problems that exceed the budget,” says Beau Eckstein, a real estate entrepreneur and star of the HGTV series Flip It to Win It.

This plan should include a budget, which should include a contingency fund. Be sure to set aside 10 to 25 percent of your estimated total for overages, because they will happen – unless every phase of your project goes precisely as planned (and Murphy’s Law becomes a thing of the past).

Working Without A Designer

Expert guidance always pays. A good designer will provide you with ideas to take your home improvement project to the next level, as well as perspective on things like scope and costs, to help keep your project from expanding beyond the bounds of reason and budget.

For example, if you’re planning to move in the next couple of years, you might not want to sink a big chunk of your kitchen remodel budget into high-end kitchen cabinets. At ProSource, getting help from an experienced designer is an even better deal, because kitchen and bath design services are complimentary.

In addition to guiding you to your perfect plan, a designer can be your connection to trusted, qualified trade professionals. That’s another perk of working with a ProSource designer – access to builders, remodelers, interior designers, flooring installers, cabinet installers, painters and anyone else you need to get your job done right.

Wearing The General Contractor’s Hat Yourself

You might know your house better than anyone, but if you don’t know the ins and outs of running a construction crew, being your own general contractor can cost you more in risk and aggravation than you’re likely to save.

This is a full-time career – one that requires knowledge of construction plus management. If you don’t have both, the last thing you want to do is learn on the job. Especially when that job is yours.

Changing Your Mind…Over And Over Again

Changes cost money. It’s as simple as that. Deciding to switch plans, materials or project parameters in the middle of a job is a sure way to add to the budget. Make sure you’re happy with your design, your materials and your team before you begin…and stick to your plan until the end.

When all is said and done, renovation projects are big investments. But making smart choices – and sticking to them – can be the difference between staying in budget and going beyond. By avoiding these five potential pitfalls, you can help keep your project running as estimated… with fewer cost-increasing bumps along the way.

Contact your local ProSource Showroom to schedule a meeting with an experienced designer.

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