How much should I budget for a home renovation?
When considering how much to budget for a home renovation, it’s important to take into account several factors. These include the size and scope of the renovation, the quality of materials you wish to use, and any labor costs if you’re hiring professionals. A general rule of thumb is to set aside 5-15% of your home’s value for renovations, but this can vary widely depending on your specific project. It’s also wise to include a contingency fund for unexpected expenses, typically around 10-20% of your total budget. Planning carefully and researching costs can help ensure your renovation stays within budget.