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Basic Budget Questions When Embarking on a Home Improvement Project

There are several basic budget questions you need to ask yourself before making any decisions about home improvement. Having a plan and knowing your budget is crucial, as well as knowing what repairs are needed and your decorating ideas. Check out our handy list, so that you can be quickly on your way to creating the home of your dreams.

  • Do you own or rent your home?
    If you have a rental, you will probably not want to spend enormous amounts of your hard earned money on someone else's home. For rentals, it may be better to spruce up your place with new decor such a new curtains or even adding a small garden (if space permits). Homeowners should figure out a home improvement plan in order to maximize their space.

  • What is the value of your home?
    You will most likely recover at least two-thirds the cost of any upgrades on your home when you sell it. Items like thermal windows, new doors, kitchen cabinets and appliances add value and style to your home.

  • Will the improvements on your home price it out of the neighborhood?
    Your home should compare favorably with other items in the neighborhood. You can always ask your local real estate agent whether any improvements you are considering on your home are advisable and good investments.

  • Will you decorate your self or will you get some professionals to do the job?
    Don't plan on decorating yourself unless you have either done it before or are trained in decorating. You may spend considerably more if you have to get the pros in to clean up something that went wrong. Decorators can help you make decisions on the best choices for a room however they should not be making the final decision, you and your family should. After all it's your home.

  • Are you decorating for resale?
    If you are decorating your home so you can sell it stick to neutral colors and don't be so intent on trying to stamp your personal style on the home.

 Write Everything Down:

  • Give the project a name.
  • Write down the budget amount.
  • List all the work of jobs that need to be done.
  • Prioritize the tasks that need to be completed.
  • Review the priorities that need to be completed.
  • Put some timing around each task. You can even put start and finish dates beside the tasks.

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