How to renovate on a budget

Put in the research

Good news: There are lots of online resources that can help you predict and winnow your costs. You just need to know what to look for.

"This involves identifying all the major items you will need for your renovation, performing shopping research on multiple products and brands for each item, and using that information to help establish your budget," says HomeZada.com's John Bodrozic.

As you peruse stores and browse Pinterest for options, factor in the not-so-obvious costs. These can include sales tax, delivery charges, shipping charges and permit fees.

HomeZada.com offers estimates on various home projects, which can help you come up with a reasonable price for your own. Also, the 2014 Cost vs. Value survey by Remodeling Magazine includes national averages on job costs. HomeAdvisor.com offers national and local average costs for projects.

Also, look at the expected length of time for the project. Factor in waiting time for supplies to be delivered and hours needed to get the work done.