This will give you a little wiggle room just in case. As a general rule, you should set aside between 3 and 5% of your total budget for unforeseen events. This will give you some wiggle room should something come up during the project. The typical way that whole house renovations are paid for is through some type of financing, since there are many companies that specialize in home renovation loans or mortgage-backed loans.
As a general rule of thumb for homeownership, it's a good idea to allocate 10 to 15% of the total value of the home to your renovation budget. You can apply for a personal loan from a bank or credit union, use a home equity loan or line of credit, or get a construction loan from a lender who specializes in financing home renovations.
