Budgeting plays a big part in any renovation. Understanding how much you want to spend and how that relates to the things that you need, want, and can do makes for a much smoother renovation process. As you plan your budget there are three perspectives you can take. First, you can address your needs. These are the items that you absolutely have to have. Secondly, you address your wants. This will take care of your needs and leave room for some extras. Lastly, are your wishes. This is what you would do if you had a limitless budget to get everything you want.