Spring and summer are prime times for home improvement projects. And whether you are planning a minor renovation or a major overhaul, budgeting is crucial for ensuring that your projects are completed smoothly and within your financial means.

Here are some tips to help you complete your spring and summer home improvement projects successfully while staying within your financial means.

• Assess your needs and prioritize. Before diving into any projects, take stock of what needs to be done in and around your home. Make a list of essential repairs and desired upgrades, then prioritize them based on urgency and budget constraints.
• Set a realistic budget. Determine how much you can afford to spend on your home improvement projects. Consider your current financial situation, including your savings, income, and any available lines of credit. Be realistic about what you can afford and resist the temptation to stretch your budget beyond your means.
• Research costs. Research the costs associated with materials, labor, and permits for each of your planned projects. Get quotes from multiple contractors or suppliers to compare prices and negotiate the best deals. It's essential to have a clear understanding of the total expenses involved in each project to avoid budgetary surprises down the line.
• Factor in contingencies. Home improvement projects often come with unexpected expenses or complications. Budgeting for contingencies is essential to prevent financial strain and ensure that your projects stay on track. A general rule of thumb is to set aside 10% to 20% of your total budget for contingencies.
• Break down costs by phase. Divide your projects into manageable phases and estimate the costs for each phase separately. This allows you to prioritize tasks based on your budget and tackle them one step at a time.
• Explore financing options. If your budget falls short of covering the cost of your home improvement projects, consider exploring financing options such as home equity loans, personal loans, or lines of credit. Compare interest rates, terms, and fees to find the most affordable financing solution for your needs.

Remember to keep track of your expenses throughout the duration of your home improvement projects. Maintain a detailed record of all costs, including receipts and invoices, to ensure that you stay within your budget. Regularly review your spending and adjust as needed to avoid exceeding your financial limits.

Jenny Madden is manager of F&M Trust’s community office in Orbisonia.