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remodeling budgetMaximizing your investment on your home remodeling budget means investing in the right areas and avoiding common mistakes that can lead to a hemorrhaging bottom line and out-of-control spending. You can save money whether your future home renovation is a small plan with just a few thousand dollars of investment or a giant project worth hundreds of thousands of dollars.

Here are a few methods you can use to keep your remodeling budget on target while also ending up with the best finished space possible.

Work with an Architect for Major Projects

An architect or a contractor with architectural experience is a great partner in a remodeling project, particularly if your remodeling plan will make major changes to your home. You probably already have several ideas on how to transform your space, but an architect will be able to design a plan that shouldn't run into any problems once the plans are given to a contractor.

The pros at This Old House explain how you can employ an architect to help without bursting your budget:

"Depending on the scale of your project, you might not need a full–on architectural commission, which involves extensive meetings, multiple job–site visits, and several sets of construction drawings, to the tune of about 8 percent of a project's construction budget. You might be able to tap an architect's design savvy by having him undertake a one–time design consultation."

Complete Multiple Construction Projects at the Same Time

The price tag on a project that covers multiple rooms in a house may seem daunting, but the overall cost of having a construction crew come into your home once to handle the kitchen and the living room remodel will likely cost less than having them complete the kitchen remodel and then return at a later date to continue the remodeling plan into the living room.

When you solicit bids from local contractors, you may wish to ask for the price of two single-room remodeling projects and the price of a single, larger project. Not only might you save money on the overall construction schedule, but you might be able to negotiate a better price with your contractor for engaging in a larger project. You may get a discount on a major home remodel more easily than on a few smaller remodeling projects.

Cover Your Remodeling Budget with a Zero Interest Credit Card

It's common for homeowners to use the equity in their homes to finance their home remodeling projects, but there are other ways of financing the project. A traditional loan from a bank is one option, but paying for the project on a credit card might actually offer the least expensive option.

Good Financial Cents shares:

"Building your dream home may not be cheap, but you'll save oodles of money if you take advantage of a credit card with 0% APR. These cards offer 0% APR – as in zero interest – for anywhere from 12 -21 months, which means you can charge some of your home-related expenses without paying interest for a year or longer. No matter how you cut it, that's a pretty sweet deal!"

If you believe you can pay off the balance of your remodeling budget within a few years, you can apply for a credit card with a 21-month introductory period where you'll pay zero interest. If your project will exceed your likely credit limit by several thousand dollars, a home equity loan might be your best bet, but it's a good idea to do some searching for various funding methods to find the least expensive option.

Begin Your Remodeling Project With Help from Forge Hill Construction, Inc.

Are you thinking about remodeling your kitchen or starting a major remodeling project in your home? Don’t start without getting in touch with Forge Hill Construction. We’ve got the know-how and the experience to help you create an amazing new space for you and your family. Let us help you design the best new space by giving us a call at 1-973-627-2811, or use our contact us form to ask questions and get started on your bathroom remodel.