Your budget should consider the complete project, not only visible finishes.
Depending on the renovation, costs may include demolition, framing, plumbing, electrical work, cabinetry, countertops, flooring, tile, lighting, fixtures, painting, permits, labor, and material delivery.
It is also wise to maintain a contingency for conditions that may only become visible after demolition.
Establishing the budget early allows the design and material selections to develop around realistic expectations.