Creating a Realistic Project Budget

Everyone planning to remodel would like rules of thumb for what projects tend to cost. With guidelines, establishing a planning budget is simply a matter of multiplying your room's size by the average cost per square foot. In reality, however, creating a realistic project budget is much more elusive.

Only specific estimates from local professionals provide an accurate picture, but the average costs listed here give a rough idea of the price level various projects represent. National averages can't account for problem plumbing setups or your taste for exotic countertops, but they can tell you that it's unrealistic to plan on remodeling a whole kitchen for $7,000.

Once you get an estimate, plan on a budget overrun of about 12 percent. Deciding how to handle overruns up front can go a long way toward keeping you happier when the final bills arrive.