5 Ways to Avoid Overpaying for Your Renovation
5 Ways to Avoid Overpaying for Your Renovation Renovating your home is exciting — but it’s also one of the easiest ways to overspend if you’re not careful. Many homeowners end up paying 20–30% more than they planned, often because of vague contracts, hidden costs, or lack of oversight. The good news? With the right strategy, you can keep your renovation on track — and on budget. Here are five proven ways to avoid overpaying for your project. 1. Get Multiple, Itemized Bids Don’t settle for the first contractor you talk to. Always request at least three quotes — and make sure they’re detailed. A proper bid should break down labor, materials, and overhead costs. You should be able to compare “apples to apples” between bids. Pro tip: Watch out for vague “lump sum” bids. These often hide inflated costs that are hard to challenge later. 2. Verify Materials and Markups