Remodeling your home or parts of it is definitely a balancing act, regardless of budget. Every area that you want to remodel has its own options — and we will have to make compromises.
You want to make sure that all your choices really count, not just for your lifestyle, but also if it would likely affect the resale value of your home.
Prioritize your spending based on your values and how how you’ll use the space. Very few remodeling projects will return all of your investment, so the decision to remodel should be more about what you’ll be able to get more out of it. Think about your lifestyle, and spend more on the areas that supports it.
If you’re a gourmet cook, a professional range would be worth the investment for you. Larger kitchen island might be more important for busier families.
A high-quality toilet might be more important for high-traffic bathrooms, whereas you might focus more on double sinks in the master bath.
For other spaces; sound, lighting, and Ethernet wiring might be more important in a media-heavy entertainment den. If the space is more for relaxations or hobbies, you might make other decisions.
When it comes to appliances, be practical. Spend more on appliances and their features that you’ll use more often and get the savings from upgrading, and not for the sake of having more.
Don’t over-customize when remodeling, it will affect would-be buyers of the house if you ever thought about selling it.
Invest more in the fundamental and permanent fixtures, such as a bathtub over the ones that you can improve when you have more money.
In terms of insulation, windows, and doors, it pays to invest extra on those. But you don’t need to get the brand named ones, but avoid the cheapest ones, because these affect your security, comfort, and safety.
In terms of the focal points of your house, spend more. For example, in the living room, you might spend more on the entertainment center, whereas in the dining room, more on the chandelier.
Finally, make sure you’ve set up a realistic budget and add 50% more to that as a wiggle room. Pick all your materials before the start of the project to avoid as many problems as possible.