If that puts a damper on your renovation dreams, consider this: narrowing down what you will spend, on what, and where will save you time and stress and deliver a better renovation experience overall. From fixtures to flooring, understanding how much you can spend from the get-go will dictate the end result. But more than keeping your spending in check, a thoroughly researched and well-established budget is arguably the most important tool in the entire project it will influence every decision you make. Even if you don’t budget in your personal finances, a renovation budget will safeguard against overspend and protect you from financial freefall. The key to a successful, less stressful home renovation is setting a realistic budget. More often than not, exhausted finances (and minds) could have been saved by sticking to a renovation budget. But even the most well-intentioned renovation can blow out with one unexpected or emotional decision, letting goals fall out of focus.

Home renovations usually begin with humble goals: increase the value of the home, improve the function of the space and increase appeal to potential buyers. Achieve your home reno goals with our guide to setting a renovation budget. If there is one tool that every home renovator should use, it is this: a well-researched, realistic budget.

How to setup a home budget spreadsheet