According to Bid Bidet’s 2021 Home Upgrade study, more than half of Americans plan on remodeling their homes this year. For those planning to remodel, 43 percent plan on making it more modern, while 70 percent plan on doing a complete bathroom remodel – all in the hope of creating their dream home. Renovating your home into your dream home gives you the chance to design the home you want from scratch and choose the best renovation projects for your property. It also comes with the need for a lot of forethought and planning. From deciding on the best way to finance your dream home renovations to securing a reliable and talented contractor for your renovation needs, here are three things to get you started in planning your dream home renovation.

If you’re renovating your first home, you may not be familiar with budgeting for a home remodel. The key to it is to start early, maintain flexibility, and create a realistic budget. Utilize the input of friends or family members who have gone through a similar renovation, speak to your design team for ballpark quotes, and use remodeling cost resources like the Real Remodeling Cost Calculator from Houzz.

More detail equals better accuracy when it comes to budgeting. Details like your location can influence the average cost of your renovation. For instance, according to the Houzz Calculator, the average cost of a kitchen remodel in Dallas, Texas is $29,549, while in Houston, Texas it is $26,951. You will also need to consider how you will be paying for your dream home renovation – whether you will fund it using your savings or credit cards, or you will be using a mortgage or loan for the renovation. If you’re considering a home renovation loan or re-mortgaging, knowing your credit score and the interest rates offered by mortgage companies in your state can help you get the best deal – and the lowest cost.

While it can be tempting to kick off your dream home renovations as soon as possible, it takes time to plan the process and choose the right contractors. In fact, you will need to meet with an architect or designer before designing a floor plan for your renovation. If it is an extensive renovation, like the addition of an extension or complete remodel of your kitchen, it will be necessary to have several in-person meetings with your contractors before they can give you quotes and timelines. According to Kevin Hawkins of the WAV Group Inc, “You can save heartache and financial pain by spending more time planning and researching everything.” Also, ensure you reach out to friends and family members for recommendations on contractors, and get their take on the renovation experience. You would be surprised how many of them can share insider tips to help you minimize costs and timelines.

Renovations rarely go exactly to plan – even when meticulously planned. While there are ways you can try to stick to your home renovation budget, it helps to be prepared for the unexpected. There may be price changes in your materials, there could be unexpected costs, or you may change your mind about the design during the process. All of those variables can mean an additional cost added to your renovation budget. Most renovation experts recommend setting aside an additional 10 percent of your budget for contingency costs.

Contingency planning also extends to your renovation design planning. While you may have your mind and heart set on a specific design (or certain material), it helps to consider alternatives during the design process. It saves you and your contractor a lot of time and money by reducing the amount of back and forth if things do change during the renovation. For instance, the granite counter top may be out of stock, but having an idea of alternatives to granite counter tops (like quartz and laminate) reduces the selection time. It also reduces the chances of stoppage during your renovation contract, and ensures your dream home renovation stays on track for its completion timeline.

Finally, renovating your house into your ideal home may not be an overnight process. Be prepared for timeline shifts and budget changes. Anticipating the unexpected means you are better prepared to react to it.

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