Staying on budget during your remodel and renovation project can be difficult and end up being much more expensive than you anticipated. Many renovations uncover issues you weren’t aware of when you started. It can be hard to stick to a budget during the renovation process.
Sticking to a home improvement budget requires an accurate estimation of your project’s cost right from the start. Then add a 10%-20% buffer for those unpleasant surprises that often result in cost overages. This home improvement project estimator shows the median costs for projects in the American Housing Survey.
Here’s a discussion on “Staying on Budget During My Repair, Remodel and Renovation Project”. This may help you plan and stay on budget during you repair, remodel and renovation project.
WHAT DO I NEED TO KEEP IN MIND BEFORE I BEGIN RENOVATION TO HELP ME STAY WITHIN MY BUDGET?
- Plan ahead before you spend a lot of money! Make sure the design is exactly what you want! Do enough research to know when it’s smart to splurge on materials and appliances and when it’s not.
- Many general contractors say the biggest mistake they see clients make is changing their minds mid-construction. That can easily derail the project. This is because of structural concerns, permit problems, and materials that arrive damaged or broken. These were all cited by contractors as primary reasons for delays. Anticipate these all-too-common issues and help keep your project on track.
WHAT ARE SOME AREAS TO BE AWARE OF WHEN IT COMES TO RENOVATION COSTS?
- A general contractor will tell you that unforeseen structural damage is one of the leading reasons a renovation will fall behind schedule. Your contractor can advise you on scheduling a home inspection to determine if you have any structural damage that needs to be repaired ahead of the renovation project itself, or if that damage will change your plans.
- Your contractors will get permits on your behalf but will charge you for obtaining permits. You may want to consider doing it yourself so that you aren’t spending $100 per hour for the contractor to wait in line. In some urban areas, obtaining permits is so burdensome that specialists call permit expediters to handle the process for you. Some cities keep lists of approved expediters at the building department. Engaging one gives you an advantage since their sole focus is to keep your project moving along.
- It is not uncommon for a renovation project to be delayed because materials arrived damaged or the wrong items were shipped. You can avoid this all-too-common issue by shopping with local vendors whenever possible. You may pay a little more to buy materials in your area, but it can save you time and money from the problems that can arise when items come from far away.
Robert Calvo, General Contractor is proud to serve in and around the Carmichael community in repairs and renovations to area homes and businesses. You can read testimonials from our satisfied customers here. We are full-service repair specialists, too, so don’t hesitate to contact us for help.