How to Prioritize Your Renovation

In this episode of The Marc and Mandy Show: Love Your Home, Mike Holmes Jr. shares tips on how to prioritize during renovations. Check out the video above or keep reading to learn what Mike Holmes Jr. has to say.

Mike Holmes Jr.: The more you plan your renovations and the more you break down the budget—and I’m talking about every single part of your renovation—the more you will have an accurate budget of how much you’re going to spend during your renovation. This is why I think working with certain trades are very important. So, if you work with a designer and a general contractor, you can pick your finishes in advance and ahead of the time. Now, there’s always, in renovations, stuff that surprise you. You can open up the walls and say, okay we have a structural problem and that’s going to cost you more money. So, if it is, let’s say, 100,000 for a renovation, maybe have a flow a float of 50 000. Now, I know that money doesn’t grow on trees, so have a float in case any kind of emergency happens, because the last thing you want to do during a renovation is have to cut corners just because you haven’t budgeted enough money for them.

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