Rasekh says it's a good idea to set aside 20 to 30 percent of the total project cost for the unexpected, up to 30 percent on top of the project's original estimated cost. He adds that it's important to receive several offers, especially if you're preparing for a major renovation. This rule helps homeowners avoid overspending and potential financial difficulties during the renovation process.
What is the 30 rule for renovations?
Rasekh says it's a good idea to set aside 20 to 30 percent of the total project cost for the unexpected, up to 30 percent on top of the project's original estimated cost. He adds that it's important to receive several offers, especially if you're preparing for a major renovation.
