Planning, Budgeting & Prioritizing a Home Renovation
Written in collaboration with Red Fox Remodeling
Embarking on a home remodeling project can be both exciting and overwhelming. Below we discuss, from both a design and construction lens, effective strategies for planning, budgeting, and prioritizing a successful project, whether you're updating a single room or undertaking a full-scale renovation.
Photo by Nathan Anderson Photography
Planning Your Remodel or Addition
Assess Your Needs and Goals
Start by identifying the purpose of your remodel or addition. Are you looking to increase space, update outdated features, or improve functionality? Engage your family in the planning process to ensure the remodel meets everyone’s needs. Consider factors like:
Space Requirements: Do you desire to accommodate more people in your kitchen or living spaces? Need more storage? Need dedicated space for guests or a home office?
Lifestyle Changes: Are there any changes in your family’s lifestyle that need to be accommodated?
Aesthetic Preferences: What style or design elements are important to you? Does your home have historic elements or motifs you want to maintain or match?
Consider Flexibility: Think about how your needs might change in the future.
Return on Investment: How long do you plan to stay in the home you’re remodeling? What is the resale value of the project and how much of the investment might be recouped?
Term of Investment: Having a sense of how long you want to stay in your home can be very informative for what it looks like to invest in it over time. Whether that’s many small projects over 20 years, or one or two major updates, it’s important to consider how the project will improve the functionality and joy you experience in your home.
Develop a Design
Once you have an idea of your needs, work with an interior designer or architect to develop a design that aligns with your goals. They can help translate your needs into actionable plans, including layout changes, materials, and finishes.
Budgeting for Your Project
Establishing a realistic budget is one of the most critical aspects of any remodel or addition. We find that projects almost always cost more than what clients expect, especially recently as global costs have increased. Online queries for what things cost are usually lower than what is realistic. Project costs include elements like:
Set-up & Management Costs: Includes contractor & design administration fees, permits, protection and preliminary work.
Building Costs: Typically includes labor, materials, finishes & installation.
Furniture & Fixtures: Elements like lighting, appliances, rugs & furniture are typically not included in construction estimates, yet are essential for a fully functioning space.
Contingency Fund: Set aside 10-20% of your budget for unexpected costs. Keep in mind that contractors can only estimate based on what is visible. In a remodeling project, things that are uncovered once demolition begins can add to the overall project cost, especially if there is infrastructure that needs to be brought up to building code standards.
On projects where clients don’t have a budget or find it difficult to create one, we have done preliminary design scope with scenarios for ballpark pricing to best inform what they can afford.
Obtain Quotes
Once you have an informed budget and design, the next step is bidding the project. It’s nice to get bids from two contractors to compare pricing and make sure all of the pieces are captured. We typically find that project bids are within 2-5% of one another on the same project.
Prioritizing Your Project
Identify which parts of the project are most important and address those first. Your project goals are the north star to guide you and the design & construction team. Always keep in mind why you started your project and if decisions are supporting your end goal. It’s essential to keep the “why” in front of you and make your decisions based on it. Other elements can frequently be broken down into the categories below to prioritize:
Structural Changes: Major changes like room additions, layout alterations, and opening up or removing walls to connect spaces.
Systems Upgrades: Plumbing, electrical, or HVAC systems, insulation, energy efficiency & long term utility costs.
Flow & Function: Are there interior or exterior changes that have the potential to improve how you use the space day to day.
Aesthetic Enhancements: Cosmetic improvements for your style & enjoyment.
Keep in mind:
High-Quality Materials: Invest in quality materials where it’s most important to you, but there can be opportunities to look for cost-effective alternatives for less critical areas.
Labor Costs: Quality workmanship is crucial. Keep in mind that labor can typically includes a contractor and/or subcontractor coming to the jobsite multiple times.
Disruption: Living through a remodel can be inconvenient and disruptive. Some clients choose to temporarily relocate for a portion of or the entire duration of construction.
Schedule Realistically
Understand that remodeling projects often take longer than anticipated and rushing through design or construction usually makes the process stressful, frustrating and disappointing. Here’s a general timeline for different stages:
Design Phase: Depending on the scale and scope of the project design can take anywhere from 2 months to 10 months.
Permitting and Approvals: 2-12 weeks depending on the jurisdiction.
Construction Phase: 8-16 weeks for smaller remodels; 6-12 months for larger projects.
Finishing Touches: 2-4 weeks for final details and inspections.
A successful home remodel or addition requires careful planning, budgeting, and prioritizing. By assessing your needs, setting a realistic budget, and understanding the timelines for design and construction, you can navigate a remodel with confidence. Both Red Fox & Bound Collaborative want to be a resource and trusted partner that can guide you through all stages of the process and deliver a result that achieves your goals and vision for your home.