Renovating a home is a stressful process. Unpredictable cost is the major reason. Whether it is a busted pipe being replaced or ordering wood floor, it is necessary to keep track of cost. Renovation cost can easily get out of hand. The Home Renovation Budget Template can help keep renovation cost in line. Having a breakdown of monies being spent on specific projects can help homeowners make wise decisions. And, general contractors can better manage projects, so they can be completed in a timely manner.
How to Use the Home Renovation Budget Template
The Home Renovation Budget Template is a free program accessible through Microsoft. Using this Excel program is easy. All a person needs to do is download the program and filling in the template.
- First, fill in customizable project data. List the type of renovation project taking place and the monies budgeted for the project.
- Second, set up fields for specific projects. Data can be broken down by projects. For example, estimates for a kitchen project can be broken down by appliances, backsplash, cabinets, countertop, fixtures, and flooring.
- Third, set up the fields required to keep track of monies spent. The estimates and actual cost of items can be placed alongside one another. Changes can be added to or subtracted from the budget.
Tips for using the Home Renovation Budget Template
- The Home Renovation Budget Template is the only record of spending the homeowner sees. It should be as detailed as possible. In the case of a full home renovation, making out templates for different projects will be necessary to keep down confusion.
- Offering the homeowner copies of these templates and any revised copies will also help keep down confusion.
- Lastly, using different colors for monies in the budget and monies subtracted from it will help keep projects from going over—using a different color for monies added sets them apart from monies subtracted.
Having a budget is necessary to sets limits. Limiting the amount of money spent on a project allocates money for other projects. The end result is a well renovated home.
Download: Home Renovation Budget Template
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