While you may find yourself daydreaming about a spacious master suite complete with spa-like oasis of a master bathroom, it's important to keep reality in check and think about what your budget really is.
To be most successful with obtaining an end-result that both matches your home remodeling vision and budget, here are 3 important steps to follow:
Step 1: Create Your Vision
As you begin tossing around the idea of remodeling your home, jot down a list of all of the things that bother you about your home and how you would like to change them.
At the same time, put together a collection of home design images that inspire you. Online resources such as Houzz and Pinterest are great resources to turn to for home design inspiration. If you have a particular custom home building professional in mind to complete the job, take a look through the company's online portfolio for inspiration from previous projects that have been completed.
By having a vision for what you would like to accomplish and images to go along with it, you'll be able to communicate early on in the conversations with your custom home contractor about what you hope to accomplish.
Step 2: Budget Check
Once you share your vision with your building contractor, he or she can give you a more accurate cost of the project. In the industry, this is often referred to as a rough order of magnitude cost comparison. Keep in mind that these aren't official bids. Instead, they are ballpark estimates of how much the project may cost, and the prices could fluctuate based on the finishes and materials that you choose.
When your building contractor calculates this rough order of magnitude cost number, he or she is likely taking into account the number of doors and windows as well as the electrical and plumbing needs for the project. In addition, he or she will include line-item costs in this estimate based on the average per-square-foot costs for the project.
Once you have a better idea of the costs associated with your dream home remodel, you may decide that modifications need to be made in order to accommodate your budget.
Step 3: Refine Your Vision to Match Your Budget
The right custom home building contractor should be able to make recommendations to you that will allow you to still accomplish your vision while also satisfying your budget.
For example, if your dream kitchen consists of cabinetry that stretches all the way to the top of your 12-foot ceiling, you contractor could alert you that raising your cabinets could quadruple the cost. Instead, your contract could make alternative recommendations to you that would satisfy your budget and the look you are going for.
It's also best to select as many materials and finishes that you can early on as these areas have a tendency to drive up your budget.
At Empire Custom Builders, we pride ourselves in helping our clients to get their dream homes within their budgets. Please contact us to learn more.