8 Tips for Budgeting for a Home Renovation

Whether you plan to renovate a house before moving in or are preparing to remodel your current abode, we know budgeting for a home renovation can be a tough process. First, you’ll need to determine what it is you really need versus what you simply want. Next, you’ll have to figure out how you’re going to finance the renovation in the first place. Once you have a general idea of how much money you have to spend on renovations (and where that money is coming from), you should be able to make better decisions on finishes, appliances and other renovation features.

Remember: most renovations end up costing more than originally thought, so be sure to have a money cushion set aside in case of emergencies. This is especially true if you plan to tear down walls and make structural changes, as these projects often end up with unwelcome surprises (think: water damage, mold or electrical and wiring issues). Many homeowners may also be concerned with ways to cut costs and save money without compromising the quality of the home. For tips on budgeting for a home renovation, check out our expert advice below.

8 tips for budgeting for a home renovation

Decide on your top renovation needs and priorities

Look at cost vs. value for each renovation project

Figure out how you’re going to finance the renovation

Talk to others who have finished similar renovations

Create a list of specific needs and goals for contractor bids

Obtain bids from at least three general contractors

Research materials and sources for the new home

Cut costs where you can

Preparing to renovate your new home?

Renovating a home can be an all-consuming process, meaning you likely won’t have time to plan a complicated move. Fortunately, Moving.com’s extensive network of reliable movers makes it easy to book the best moving company for the job. All relocation companies in our network are licensed and insured, so you can rest assured that your move will be in good hands. Best of luck and happy moving!