Before you just jump right in to your new renovation project on your home, there are a few things you need to do so you don't find yourself in a (literal) big mess or a financial one either. Here are 3 basic decisions you need to make BEFORE you even set your budget:
Decide the Size - Are you renovating one room or several? Will demolition of walls be involved? Lots of electrical or plumbing changes? Are you building an extra room? Before you decide on your budget, you need to consider all of those things and talk to a contractor first to get at least a ball park budget for what all you want to do. They may be able to get you the cost per square foot of the main part of your renovation. Of course this is just a starting point. Not all renovations are alike because there are so many details that need to be worked out.
Delightful Details - Speaking of details. The choices you make can make a drastic difference in the cost of your renovation as well. Flooring and other finishes can range from really cheap to extremely expensive depending on what sort of choices you make. The contractor may give you a possible figure for the work, but then the cost of what materials you choose will of course affect that cost considerably so keep that in mind while you decide what all you will want in your renovation. If your contractor is going to charge one amount per square foot for labor and the flooring costs so much per square foot, it will take both of those numbers to get a closer price as to what you would spend to add new flooring to a space.
Devise a Plan - Even with the basic labor numbers from a contractor and the basic cost of certain materials, plan for extra things to happen. There will always be unexpected things that come up during a renovation. The age of your home can make a difference in costs as well. You may find that now is the good time to update a big cost like a furnace or repair those cracks in the garage floor. Just make sure that you have added some padding for those unexpected expenses.
A renovation can be a bit stressful and sometimes a bit costly, but if you plan accordingly and choose your finishes correctly it can also be very satisfying as you see your plans come to fruition right before your eyes!