Remodeling an entire home can be very expensive, and since many American families may not have a large disposable income just now, budgeting for remodels and repairs is becoming necessary and popular. While it is great to get everything done at once, it is very sensible to budget for one home improvement at a time, which can give a homeowner time to save up for the project. Then the project will have a budget, and by sticking to the budget, the repair or remodel will be done sensibly and without putting the homeowner in debt. By waiting a year in between each home improvement, the homeowner has time to save up enough money to have a decent budget, which will allow for the purchase of higher quality materials.

Planning Ahead

The best way to stay organized is to start with a plan, and when planning a project, it is important to allocate a realistic budget to get the job done well. While it is always tempting to create a generous budget for a project, it is better to be realistic when planning how much money to save over the coming year. Of course any extra money that appears over the year can be added to the budget, but it is better to make a realistic plan than one that is too aggressive.

Throughout the year, keep the goal in sight. Perhaps posting a picture of the intended project on the refrigerator will help keep the project’s goal from being forgotten. This type of reminder is helpful to keep the savings on track for the final project, because it is easier to put a little money away over a long period of time than to try to pull out a large amount of money from the family budget at the last minute.

Goals and Timelines

When determining the budget for a home improvement project start by setting a one year goal. It can be to replace windows or make over the bathroom. While the actual project is not important, researching it properly is very important. Make sure to include every element of the repair or remodel, and then carefully figure the cost for that element. It is very frustrating to get half way through a project only to discover that there are errors in the project plan that will run the project over budget.

By planning a year in advance not only is there time to develop an ample budget for the project, but there is time to research materials and design styles. When remodeling public areas of the home, it is a good idea to create an inspiration board with magazine pictures of new furnishings, material swatches and color chips for the new space. This way everyone in the family can pitch in with their ideas, and net result will appeal to the whole family.

Staying on Track

Have a begin date in mind for the project, and make sure that budget savings and material acquisition are both properly coordinated for that date. When scheduling, it is possible to select a date or a dollar figure to trigger the project. Then once the savings goal is reached, the entire family can join in to make the project a success. The more sweat equity a family contributes to any project, the smaller the budget can be.

After completing the project, it is time to enjoy the update and begin planning for the next project. Now that the homeowner knows the formula for a successful annual remodel or repair project, they can begin putting together plans for next year’s plan. Following this type of regimen is a wonderful way to keep a home updated and in good repair without going into debt along the way.

Author Bio: Artist, Jessica Ackerman, is a consultant with WallDecorandHomeAccents.com; she demonstrates what a well-trained eye can accomplish with butterfly and dragonfly art decorations and tropical beach wall art.

Category: Home Management
Keywords: wallpaper, floor, bathroom, paint, living room, carpet, home office, bedroom, windows, door