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What process do you follow to set a budget?

9 years ago

I'm finally in a position to start saving to redo the kitchen. I am very glad to have begun hanging around here prematurely, because after a year or so I have much clearer ideas about what kinds of layout changes and finishes I might even like or want. (And thanks again to everyone who helped me with layout ideas!)

Accordingly, I would like to be a little more organized in my approach to the budget. It doesn't seem adequate to just save up for a year or two and hope it's enough. But, I also don't want to rush in to getting early quotes and make professionals feel I am wasting their time coming out when I don't really plan on starting the project for a while.

I think we've established that the "10-20% of home value" thing just doesn't work everywhere. I live in kind of an overpriced shack in an expensive coastal city and that number would have me drastically overimproving compared to anything else I see around the neighborhood.

So, how did you come up with your budget?

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