How to Budget for Your Dream Bathroom Remodeling Project
4 Ways To Help You Budget For Your Dream
Lancaster, PA Bathroom Remodel
Discover How To Best Afford Your Future
If your current bathroom in your Lancaster, PA, home makes you dream of a remodel, it’s time to start planning your budget. A bathroom remodel is one of the best ways to add value to your home, but it is also a great way to ensure you are happy with your living space.
An outdated or non-functional bathroom is a significant complaint for many homeowners. Who wants to have a bathroom that they hate? After all, consider how much time you spend in your bathroom daily.
If you are ready to love your bathroom and have the dream spa you have always wanted, then figuring out how to budget a bathroom remodel is your first step. Luckily, we have four ways that you can use to help you keep control of the costs and budget correctly for your Lancaster, PA, dream bathroom.
Controlling Overall Costs For Your Project
You may not have control over the actual costs of supplies that your contractor will need, but there are some things you can do that will help you budget more accurately.
Remember that one of the main reasons people go over budget with their bathroom remodel is that they do not plan correctly.
For example, many people do not prepare for any “contingency funds” when establishing their budget. What happens if your contractors find mold when they remove the tub? You need to plan for worst-case scenarios to protect the success of your project.
In these instances, you must spend more money to remove the mold for health and safety reasons. If you haven’t planned for the unforeseen, you could be at risk of running out of funds before your bathroom is finished.
We suggest that you try to plan for contingencies as much as possible. But how can you do this? Here are a few ideas:
- Take note of any sagging floor sections, as it can often mean there is a problem.
- Take a deep breath in your bathroom. Do you smell mildew? Consider setting aside some for mold or mildew removal.
- Be completely honest in your assessment of your bathroom. The more open you are with yourself about what is wrong, the better you can budget accordingly.
Lists Are Your Friend
You may already be a natural list maker, which is excellent! However, if you aren’t, then it is time to get into the habit of making lists.
So, what should these lists contain? You will want to make several to help you narrow down your bathroom remodel and what you can afford.
First, start with a list of items, tasks, and ideas that are a priority. For example, if you know the floor needs to be replaced because it is a safety issue — then put this on the list.
Secondly, after you have made your list of priorities, you can start with items that you want. Maybe you want a high-end claw foot tub installed in your Lancaster, PA bathroom – while not a priority, you can put it on the list and start planning.
Next, make a list of any preparations you need to make before work can begin. Do you need to remove furniture, decorations, or supplies from your bathroom? Knowing what needs to be done can help facilitate a speedy process.
After compiling each list, you will want to compare what you want to spend on your bathroom remodel to what these items will cost. This step will help you identify what is realistic for your project and what you will need to live without when it’s finished.
Research Your Financing Options
There are various financing options for those in Lancaster, PA, who want to remodel their bathroom. These options include:
- Cash and savings you have saved for your bathroom remodel. Already saved cash will be the cheapest financing option since you are not paying interest as it is your money.
- Home equity loans can allow for a low-interest loan based on the value of your home and are often perfect for upgrades such as a bathroom remodel.
- You can use credit cards for anything, including paying for a bathroom remodel. However, be aware of the interest rate.
- Lines of credit from your contractor are a good option when you want to schedule your bathroom remodel as soon as possible and have the line of credit to know your exact budget. Many professional contractors work with local and national banks and credit unions to finance the remodels of their clients.
With any of these options, you need to have a monetary figure in mind for your bathroom remodel and expert advice that tells you how much it will cost to get the bathroom you have always dreamed of having.
Expert Advice Will Be Helpful
The advice of experts will help keep your budget where it needs to be. While you may think you can get your dream bathroom for $5,000, professionals have a better understanding of the cost of supplies and can give a much more accurate budget for the work you want.
Be sure that you call a contractor who offers a free consultation to ensure you are not spending money on something that should be free — or money that you could have otherwise put towards your bathroom remodel.
Lancaster, PA Bathroom Remodel
If you are ready to start your Lancaster, PA, bathroom remodel, establishing your budget is the first step. MBC Remodeling is here for your bathroom remodeling needs, and we offer a free consultation to help you get the spa-like oasis of your dreams.