From Dream to Done: Four Ways to Match Your Renovation Vision to Your Budget

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“A room should never allow the eye to settle in one place. It should smile at you and create fantasy.” -Juan Montoya

 

There has never been any doubt that home renovations are paramount to preserve the integrity of the home.

Apart from being an integral part of home maintenance, it can also be precipitated by a myriad of reasons from the expansion of a family to making the home more functional and efficient. Similarly, home renovations can serve either an aesthetic purpose or practical purpose (sometimes both). However, home renovations can cost you–regardless of what objectives you have behind them. For most homeowners, this can be a chief concern wherein they are left choosing between staying within their budget or going for the renovation they truly want. But, there is no reason to fret yet as there is no reason for you to compromise on your home renovation vision just to have it fall within the scope of your budget. Unfortunately, if you have never built or done any kind of renovation work for your homes before, you are often at a loss as to how you transform your visionary seeds of ideas into a completed home project.

If you find yourself in a similar situation, whether you are renovating your condominium in BGC or elsewhere, here are some of the tips to help you get started:

 

1.) Create your dream renovation team

Every renovation project should start with a vision or a dream. From there, you need to decide who would effect this dream and select the professionals you deem most capable of carrying out the project. Alternatively, if you are rather handy and skilled in home design projects, you might wish to spearhead the home renovation project and just select a crew. In any case, your plan should start with the selection of professionals who are skilled enough to finish the project to completion. Apart from taking a gander at their past project accomplishments, it would make sense for you to read up on their website’s reviews and recommendations if any. Furthermore, to ensure that you and your projected team will see eye to eye in bringing your vision to fruition, interview them. Let them know what you want and how much your initial budget is. More often than not, your contractor should be able to come up with a plan regardless of what your budget might be. If they cannot or compel you to adjust your budget, that should raise a red flag.

2.)  Create your plan

After you have carefully curated a team of professionals who will be drafting and creating your renovation plan, it is time to address your vision. To start, take a walk around your home and survey its interiors then make a list of the things that are no longer serving you well or are inconvenient to use. Is the kitchen falling apart? Are your bathroom tiles broken and chipped? These are the things you need to take into consideration when you are planning a renovation and would also aid you in answering your contractor’s questions. Your answers will help your contractor formulate a plan that would come as close to your vision as your budget allows. Similarly, your answers will also help your contractors determine which ideas should absolutely be included and which ones you can live without. Sure, you might wish to share with them some outlandish ideas, and although you cannot reasonably expect the architect to incorporate all of them, your contractor can use a smidgen of it to create a plan that would better cater to your needs and still suit your taste and preferences.

3.) Delineate your renovation budget

Once your contractor has come up with his initial drawing plan with dimension, they will give you a quote and an initial price. However, to ensure that you get the best price possible, source out and send your initial plans out to contractors for pricing. These are not necessarily bids, but rather, these are evaluations of how much a projected renovation plan will cost to build. Compare these quotes and once you find a baseline from them, come up with your budget. However, do take note that this is not the final projected cost. How much a project would ultimately cost will invariably depend on you, the owner, and the type of materials and finishes you select.

4.) Refine your vision to match your budget

After you obtain the project’s initial estimate, you will then realize the cost magnitude of the renovation plan you wish to be built. If you are lucky, your dream plan would fall just within your budget. However, in the event that it does not, do not fret. Your contractor can likely give you an alternative plan that would better suit your project or at least help you scale back using the same cost estimates. As a homeowner, it would also be your responsibility to know what features are really worth the investment–regardless of whether you are operating on an unlimited budget or not. While these are personal decisions, be shrewd enough to incorporate renovations that do not only serve an aesthetic purpose but a functional and practical one as well. Know what your priorities and how it could be worked into the project. Once you have your priorities taken care of, go ahead and incorporate your wants.

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