Remodeling? Why Your Budget Needs To Be Discussed First.
The most important considerations to discuss about your budget.
Talk about your budget
In my last article I focused on 5 key things you need to consider when thinking about a kitchen remodeling project. Number three was knowing your budget.
Taking that a step further - once you know your budget, let your designer or contractor know it too.
Leading With Your Budget
In every remodel there is always at least one limiting factor - the cost. Once you have decided on a remodeling project, you know what you can afford and are willing to spend. That is your upper limit. You'll likely also have an idea of what you WANT to spend. Your contractor needs to know this number too - before the design phase.
Why Your Contractor Should Know Your Budget
The typical process starts with having a designer meet with you, look at the space(s) to be remodeled, get your ideas for what the room will look like and how it will function when completed. Next, the designer heads to the office to work some magic and provide a budget range and concept drawings. At this point, there are two scenarios:
- Shock. What you thought was a simple remodel is far more expensive than you anticipated.
- Concern. The proposal is within reason but still puts you over budget. What now?
In either case you could simply choose to abandon the project OR you have to come back and tell the contractor your budget. Knowing your budget or threshold up front can save time and disappointment on both sides.
Having plans drawn up for your dream remodel with all of the appliances, all of the material choices, tile layouts, design elements and more you want included turns will turn out to be even a transformaton that you dared to hope for. Revealing your budget range before a if-dreams-could-come- true design is before you could save a tremendous amount of disappointment and lost time.
You may know many of the hard costs associated with your remodel but not always the labor or the unknown costs that may arise once the work starts. Suddenly that dream room becomes impossible to achieve. You end up backpedaling to see what must be cut or where to reduce costs while still ending up with something resembling your original plan.
That means hard choices for some of your 'must haves'. For some it can feel like having to settle for something less than what you really wanted, regardless of how amazing the room looks when completed.
Before you provide anything to your designer or contractor, talk about your budget.
Our experience is that not many client have a good sense of what the true costs of remodeling are. You may not want to reveal what your WANT to spend but you will have an upper limit. Even though you don't know what things cost and you would be uncomfortable revealing you desired budget, being candid about your budget early in the relationship changes the conversation entirely. It allows us to take your ideas and create a plan which will fit both your wants and finances or let you know that your wishes won't fit either.
No disappointment, no let down and no frustration. Just the room of your dreams.
Don't be afraid to talk with your designer or remodeling consultant about your budget before you begin documenting a vision. You’ll be happier you did!
Not sure where to begin? Let's talk.