Home Remodel Budget is a ready-to-use excel template that helps you prepare and compare the budget estimates of remodeling of your home.
With this sheet, you can estimate a detailed budget for each area of your home individually. This includes areas like the master bedroom, child bedroom, living room, garage, back yard, etc.
Additionally, the template displays each section’s budget with graphs. This helps you to know what amount of budget is allocated to different remodeling heads.
Furthermore, it displays a complete remodeling budget summary of your house/home. It also compares the estimates with actual expenses and displays it in graphical format.
Home Remodel Budget Excel Template
We have created a simple and easy Home Remodel Budget Excel Template with predefined formulas and formating. Insert the required data and your remodeling budget is ready.
Additionally, you can download other property management templates like Rental Property Management Template, Rent Receipt Template, Asset Inventory Tracker, Apartment Maintenance Accounts and much more.
Let us understand the contents of the template and how to use it.
Contents of Home Remodel Budget Excel Template
This template consists of 13 sheets: 12 remodel budget sheets, one for each section or area and 1 sheet for the summary.
Home Remodel Budget Sheet
First, insert the name of the section you are preparing the budget for.
The remodel Budget sheet consists of the following columns:
Description: Insert remodeling item here. Example: Curtains, window folds, wardrobe, etc.
Vendor/Contractor: Name of the company/person remodeling the item.
Vendor’s Contact: Vendor contact in details.
Labour: In this section, insert the labor cost as received in quotations. You have 3 options to enter: Economy cost, Standard Cost and Custom cost.
Material: In this section, insert the material cost as received in quotations. You have 3 options to enter: Economy cost, Standard Cost and Custom cost.
Sub Totals: You don’t need to enter anything here as it consists of predefined formulas. Subtotals for labor and material cost for all three types of quotations.
Actual Cost: Enter the actual incurred cost in this column.
Compared To: This column is for comparing the quotes with actual cost. You can choose any one of the 3 types of quotation cost to compare.
All you need to do is just insert “=” sign and select add the cell number. Use fill option or double-click the “+” sign to copy the same to remaining cells.
Difference: This cell shows the difference between actual cost and the selected quotation in the previous cell.
Work Progress: Insert the percentage of respective work completed in this column.
Amount Paid: Insert the amount paid in this column. If fully paid to the vendor then enter the full amount and if partially paid enter the partial amount.
Balance: This column shows the outstanding amount by subtracting actual from the amount paid.
Remarks: Enter any remarks if applicable.
There are a total of 12 sheets and you can estimate budgets for 12 sections/areas of your home.
In addition to the above, you can generate vendor-wise and remodeling item-wise reports using the table filter function.
Moreover, it also displays a pie chart for each remodeling item from the total budget.
This section consists of a summary of total budget estimates made for each area/room/section. All the columns in this sheet are auto-populated. Hence, you don’t need to enter anything in this sheet.
The sheet consists of following heads:
Sr. No: Serial Numbers
Room/Area: Fetches name from the sheets as the cells are referenced to those cells.
Estimated Expenses: This column fetches the grand total of estimated cost from the respective remodeling sheets.
Actual Expenses: Similar to the above column, this column also fetches the grand total of actual cost from the respective remodeling sheets.
Difference: Display the difference between Actual cost and estimated costs.
In the end, it displays the grand total for estimates, actual and difference.
Moreover, taking into consideration the above data of estimates vs actual expenses, the template displays it in a graphical format.
This template can be helpful to individuals, contractors, or real estate agents looking after the client’s properties for planning remodeling budgets.
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