How You Can Effectively Budget For A Home Renovation?

Creating a budget for a large project like a home renovation can be a significant challenge. Creating a workable budget for such a project requires a detailed plan regarding home renovation costs. We’ve compiled some recommended steps to create a renovation budget to keep you from overspending on your Nashville home remodeling project.

How Much Will It Cost to Remodel My Nashville House?

Here are some statistics showing how much it may cost to remodel your home:

  • Home Advisor says that the average cost of renovating a 1,000-square-foot home is $19,000. For homes in the 3,000 to 4,000 square foot range, the average price climbs to $87,500. 
  • Renovations to an older home tend to cost more than a newer one, especially if the wiring, plumbing, and other features need to be updated
  • You can expect to spend at least $10 to $60 per square foot on any home renovation.

What Steps Do I Take To Create A Budget For My Home Renovation?

  • Setting Priorities. If a room in your home needs serious attention, you’ll want to budget for that project first, and if you have some great creative ideas for a particular space in your home, let that one be your number one choice. If you need an obvious starting point, consider some popular home renovations that will add the most value to your home and bring you the most satisfaction.
  • Estimate Costs. Now that you’ve decided which renovation to do, first, break down the cost of everything that goes into that project—including all the labor and materials needed; this will require you to do some research. You won’t be able to get an exact cost until you talk with contractors. Researching online will give you an idea of costs so you can be realistic about what your budget will allow you to do.
  • Talk To Contractors. Search online or get recommendations from friends and neighbors for at least three contractors in your area. Request project bids and timelines from each one and compare pricing. Don’t be tempted to grab the lowest offer; you might end up paying a disreputable contractor. The Middle Tennessee Better Business Bureau is an excellent place to learn more about the companies you are considering. 
  • DIY. If you are experienced and handy, you can always do some of the work yourself to save money. 

Why Should I Choose Ascension General Contractors To Help Me Achieve My Home Renovation Goals?

Ascension General Contractors is here to help you with all your home renovation needs. We’re a full-service repair and renovation company, skilled and experienced in construction projects, from painting and roofing to decking and additions. 

Our team is: 

  • Experienced
  • Dependable
  • Licensed 
  • Insured 
  • Fully bonded 

Contact us today to talk about your Nashville home renovation projects! 

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