mastering the budget for your home remodel

If you're thinking about remodeling your house, your first task will be to create a realistic budget.  But that involves some careful pre-planning. 

Before you Budget

• Imagine the new space and make sketches.  It's easier to plan something you can see.
• Explore.  Talk to people who have done similar renovation.  Read books, magazines and websites, watch instructional videos, etc. Take notes!
• Think ahead.  Is the renovation intended to add value when you sell it next year?  Then pay special attention to assessing the value of the house and neighborhood.  Add comfort or pleasure?  Accommodate a growing or shrinking household?  If you plan to stay for at least ten years, almost any renovation will be worth its cost.

The Budget Process

• Figure out how much money you have to spend on a remodel without straining other budgets.
• Figure out your debt-to-income ratio.  If you're planning to borrow, you need to know whether you can handle the extra debt.
• Estimate project costs for materials, labor, permit fees, and so on.
• Create a time-line to help contractors plan the project and help you budget efficiently.

If you are working with an architect, designer, or contractor, bring your drawings, budget and other figures to them for help with the cost breakdowns. 

The Moore Team

480-545-1043

http://www.tonymoore.com/