Whether your house is HDB, Condo, or Landed, it requires a detailed decoration budget. Creating a budget for renovating your home will help you determine the amount of money you want to renovate. Here are some things you need to know when you plan your budget for renovating your retail store.
- Determine your goals
The first thing is determining your goals by asking yourself why you want to renovate? This will help you to make sure your contractor understands your vision, and the contractor will have a clear idea of your priorities and the plan of your renovation project. It’s best to share your project materials and schedule upfront so the contractors know what you expect from the project.
- Access your financing option
Before starting a budget, you should first determine your financial plan. Setting aside a financial buffer will ensure that you will have the funds to finish the renovation you wanted. If you want to be extra cautious, hiring a professional contractor to do some exploratory demolition or investigative work early on will help you plan and could even forewarn you of impending obstacles.
- List down the details
How much you spend on renovation depends on what you want. It is better to invest enough to meet your lifestyle and keep your home’s value close to the values of the surrounding homes.
The important consideration is pinning down decisions and selecting materials and finishing before the renovation begins, for example, use the wallpaper or painting.
The best way to estimate the renovation cost is to talk to an interior designer or general contractor. Providing your contractor with a specifics list that exactly what you want can help you formulate an accurate budget. You can also showcase some sample photos if you have.
- Find a good contractor
By reducing the cost of each part of your project, more importantly, you should also complete your project within your remodelling budget.
The advantage of having a good contractor is that they handle all arrangements, coordinating and scheduling your project to ensure your project will finish on time and more cost-saving.
If you decided to take care of renovations yourself, you might spend most of your time for researching and teaching yourself about how to do the project, purchasing the right tools, and playing a game of trial-and-error. This means that your project usually will take much longer and more money to be completed.
- Get a quotation
Use the priority list you made earlier to remove non-vital parts of the project in order of importance. A contractor will help you to check your project plan and budget to see if there are any costs or work that you may have neglected to account for. Listen to the contractor’s estimates, advice, and feedback on your budgeting plans to make a final update to your plan before beginning work.
Although most home contractors will give you a free estimate for your renovation, you generally have to pay money for a “hard” quote, where you will receive a detailed outline of the project’s costs and the timeline for the job. But don’t worry, Omni Interior Designer will waive the designation fee for you.
We offer services in everything that you need for a home renovation. Moreover, we are experienced with processing permits, inspections, and we will know what has to be done to meet code requirements.
Doing all of the above will help you estimate your home renovation budget, ensuring your house will look just the way you want.
We love working with clients and talking about their dream home. We turn dreams into plans and we will work with you to create a space that reflects your style and preferences. Click here to contact us about your home renovation ideas today!