Undertaking a home improvement project can seem daunting. Whether you want to increase your home’s value before selling or create the addition you’ve always wanted, you may struggle to come up with a budget for your project. Follow the tips below to help you define a budget for your home improvement project—and stick to it.

Have a solid plan

Before contacting any contractors, you must determine exactly what you hope to achieve with your project. Create a detailed list of what you need from the project, what you want, and what can easily be adjusted if necessary. Is updating the kitchen sink more important than changing the light fixtures? Is adding a shower a higher priority than expanding the master bedroom? Do you prefer to have real marble countertops as opposed to laminate? Whatever it is that you want to accomplish, be clear about your expectations and desires.

Know your limits

Understanding what you want is important, but knowing how much you have to spend on it is even more crucial. Once you know what project you want to undertake, begin a cost estimate. Include labor costs, fixtures, and any appliances in your assessment. Be sure to factor in smaller expenses too, like paintbrushes and tape, so that you are not underestimating the final cost. With an estimate in hand, you are prepared to discuss pricing and expectations with potential contractors.

Get a bid

Once you have a reasonably accurate cost estimate and an approved budget, begin looking for a contractor. Ask friends and family for their recommendations, or utilize online review websites such as HomeAdvisor. Look over their reviews, past work, and references. Communicate your expectations and be sure they understand them before giving you a bid. Once you have a few proposals, add 15-20% more to the estimate to factor in unexpected costs. Is this still within your budget limit? If not, you may need to reevaluate certain expenses and figure out where you can reduce costs.

Consider decor

When undertaking a home improvement project, it is easy to forget about the decorating that happens once all the tools and paint are gone. A Sparta, NJ interior decorator recommends factoring decor into your budget. Hiring an interior decorator is especially helpful if you put an addition on your home and have never decorated the room before. They can assist you in choosing pieces that fit within your budget and your new space.

Do it yourself (when you can) 

If saving money is a priority for you, consider doing some aspects of your home improvement project yourself. For example, pick out and order the cabinets and furnishings you want. This can help you avoid any fees that a contractor would typically charge. If you don’t mind some physical labor, consider doing the demolition (such as cabinet or tile removal) yourself. Save additional labor costs by painting the walls on your own too.

Home improvement projects can be stressful, but defining and sticking to a budget shouldn’t be. We hope that by following these tips, you can be confident and financially secure moving forward with your home improvement.