When we start remodeling our houses, it is common to go over budget – especially if you have a budget that is unrealistic to start with. Let’s say you want to construct a basement bar with a sink hookup, recessed lighting, and a solid cherry wood bartop – fantastic! And you want to do it all for $750 or less…not so fantastic. Still, it is possible to plan a beautiful basement renovation without breaking the bank.
Get Multiple Estimates
Do not settle for the first estimate that you get. For one, if you ask around, you may discover that the first estimate was wildly off-base – or you may discover that the first contractor got it exactly right. Just remember, you are not looking for the lowest price – you are looking for the most comprehensive estimate that sets out a plan to achieve your renovation goals at a price that fits your budget. Working with a contractor like RenosGroup.ca, you will be able to get better prices because we can leverage relationships with our trade partners, without sacrificing quality or attention to detail in any way.
STICK to Your Budget
On the one hand, your budget shouldn’t be a loose target. It should be calculated based on the material and labour needs for the project, and going thousands over budget without an explanation is not OK. On the other hand, having the whole project grind to a halt because you can’t afford new subflooring is not ideal, either. You also need to allocate your budget wisely – if there is a limited pool of funds, then fixing up a foundation crack comes before buying that breathtaking $8000 coffee table. Therefore, it is all about balance. If you can’t afford your dream renovation quite yet, there is nothing wrong with saving up for another year until the finances make more sense.
Always Hire Professionals
Always hire professionals. If you go for a company or contractor that has less than adequate experience then it is likely that they might make some mistake which costs a fortune to correct. Don’t throw away good money! Hiring a professional and experienced contractor in Ottawa like RenosGroup.ca will ensure you get the best service, no compromises. You can save money in the long run because you won’t have to worry about disasters down the road caused by poor quality workmanship.
Renovations First, Accessories Later
Once the main renovations are done, you can always get furnishings down the road when money is not too tight. Buy one piece at a time as the budget allows until your basement is perfect. Soon enough you will have a beautiful basement for all to enjoy and it will be worth every penny you invested.
Remember, Quality Matters
A word of caution: do not compromise on quality of material or quality of labour – ever. Repairs will be more expensive than the few dollars you saved going with the cheapest option.
Get in touch for your FREE estimate or to learn more about our basement renovation services.