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Is Spending Over Budget Okay? The Dollars and Sense of Your Great Falls Home Remodeling Project

Is Spending Over Budget Okay? The Dollars and Sense of Your Great Falls Home Remodeling Project

Whatever your budget, remodeling a kitchen, bath, or any other area of your home is definitely a delicate balancing act. There’s a seemingly endless array of choices, and you may find yourself having to scrimp in one area of your budget to make room for the things that are most important to you. And while we always recommend making choices based on your family’s lifestyle first, we understand that you also may want to make choices that positively affect the resale value of your home.

Great Falls Home Remodeling: Scrimp or Splurge?

For over 40 years we’ve worked with Great Falls residents on their home remodeling projects. In all those years, we can’t recall a time when a client said “money’s no object.” The truth is, homeowners feel most secure about the remodeling process when they know upfront what it’s going to cost. That’s why it’s so important to set a realistic budget that you can stick to.

There will be times, though, that you’ll absolutely have to have something, and the only way to get it will be by increasing your budget. Times when cutting corners means saving money, but getting less than what your heart desires. How do you determine the right times to splurge? One way is by prioritizing your spending based on your personal values, as well as how your family will use the space.

Keep in mind that your budget is not set in stone. Yes, it’s there to guide you and keep you on an even financial keel, but there actually are times when spending more is a smart move. For example, if you love preparing gourmet meals, a professional range is likely worth the investment. For young, busy families, a large island might be more important. Or you may want a high-tech family room, so a solid sound system, lighting and Ethernet wiring are vital.

Your design team is an excellent resource for helping you determine a realistic budget for your remodeling project. They will help you see where you can safely scrimp or save and, through give-and-take communication, will help you understand what your priorities should be.

When to Splurge

Our experience has been that there tends to be at least one or two items on which more money will be spent than originally budgeted for. Here are some circumstances we believe you should never cut corners on, because the extra bit of money you pay for them will benefit you and your family in the long run.

  • Quality Materials. There are certain materials that simply hold up better than others. From cabinets to countertops and windows to flooring, they represent real, top value for the dollar. When you opt for lesser-quality materials, it can actually cost you more in the long run, as they’ll need to be replaced more quickly and more often.
  • Professional Designers and Contractors. Most remodels can benefit from professional design advice, and a high-quality professional contractor understands the ins and outs of a successful remodeling project. A design build firm like Foley brings both design and remodeling experience in one complete package.
  • Space. Increasing your home’s useable space is almost always a good investment. Spend a little more now to get the space your family needs for the foreseeable future, as it can be far more expensive to expand later.
  • Convenience. A good designer will help you understand the difference between a “face-lift” and a functional remodel. You can replace the kitchen cabinets or the bathroom fixtures, but if the layouts don’t work, you won’t be happy – or fully enjoy your remodeled home.

The Bottom Line

Budgets matter, but the additional money you spend now on extras that give you a more comfortable, convenient, and enjoyable home are worth it. It’s the reason you chose to remodel in the first place. We are a custom home builder and remodeling firm that designs, builds, and remodels homes in Great Falls and all of Northern Virginia. Schedule a conversation with us today to learn more about properly budgeting your next remodeling project.

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