If you’re planning to remodel or renovate your home (and stay within your budget), you probably already know that this type of project will require a detailed plan and great attention to detail. What many homeowners often forget to factor in are the extra costs that could accumulate once a project gets started.
Below we outline some case scenarios, tips and extra pieces of advice you should consider before starting your home remodel or renovation, in order to avoid making some of these mistakes along the way.
Extra Things To Consider Before Remodeling Your Home
1. Extra Unforeseen Expenses
When deciding to begin a home remodeling or renovation project, homeowners should become well informed with the procedures, products and process involved. The reason for this is because often times, when homeowners are not educated about the unforeseeable possibilities that may occur during a remodel, they aren’t prepared for the additional costs that may need to be exhausted in order to complete a project.
Unfortunately, there is no way of knowing what may be lying behind a wall that is being removed, such as non-operational wiring that may be concealed behind walls that will need to be updated. When removing walls or stripping tile flooring you may discover leaky doors and windows that cause water to seep down the walls and into the sub-floor. A rotten sub-floor can’t be seen until the existing tiles are removed. These unforeseen problems can cause an increase in the project in order to make the repairs prior to installation of the new tile, which is of course an extra expense.
Another unpredicted extra to be aware of is sub-flooring cracking due to the home settling. When additional materials and labor are needed, that could also accumulate into another additional extra line item to your project total.
2. Shopping For The Best Bid
When homeowners shop for the best deal, they have to understand that the lowest bid may not always be the best one. Its common to think that the lowest bid will be the best but in the end you may be jeopardizing value.
3. Understanding Contractual Agreements
Most homeowners do not understand the logistics of the contracting and remodeling process when it comes to the actual job time frames.
After discussing details with the contractor and the scope of work that will be preformed, it is crucial to review the contract and make sure all details are written out. Once the job begins unforeseen costs can come up, which may not be in the contract. After final review its time for approval and signing.
4. Changes To The Contract
When changes in the original contract occur, either a change in the order or a detailed description of the scope of work need to be noted and approved by the homeowner. Additional time may be needed to complete the project but covers both homeowners and contractor involved. Extras are not included in the original scope of the project since they are unforeseen. The contractors priority is to do the job they were hired for. Always consider budgeting an additional 10%-15% of the contract price for extras.
Whether your home improvement project involves new construction or a renovation, you will more than likely have to face the unpleasant truth that you might have to spend a little more than you had initially anticipated.
If you’re ready to take the next step and start your home remodel or renovation project, contact Imagineer Remodeling for a free in-home consultation. We’re here to answer all your questions and provide you with a free budget cost analysis.