No matter what room you are tackling, a home renovation project can be expensive. Keeping costs in line can be done, though, if you and your contractor work together. Here are some useful tips to help keep your next remodeling project on time and on budget.
Know Exactly How Much You Can Spend
Before you pick out that new tile for the bathroom or decide on stylish countertops for the kitchen, be sure to set a budget. Knowing exactly how much money you have to work with will help make important design decisions.
Set Aside Funds for the Unexpected
It doesn’t matter what the size or scope of your project is, unexpected expenses always come up when dealing with home renovations. Plumbing needs to be rerun, electricity needs an upgrade, a faucet breaks or a beam needs to be placed, etc. Even the simplest upgrades run into extra expenses. This is why most renovation experts urge homeowners to set aside 20 percent of their overall budget for these types of overruns.
Break Down Your Costs
Sit down with your builder or contractor before your project begins to go over the cost breakdown of the project. This will show you exactly where your money is going. It will also help you contain costs. For instance, if your kitchen remodel is going to cost $45,000, you need to know that $5,000 is for plumbing and electrical upgrades, $12,000 is for new cupboards, $6,000 for that marble countertop and so on. Once you know the breakdown of your projected costs, you can tweak your plans to better match your budget.
Set Your Priorities
Make a list of your needs versus your wants. Yes, you may want all new appliances, but if your budget can't support the cost, you may decide to keep what you have and save for new appliances later on. By making a thorough list of all of your proposed expenditures and prioritizing that list from the most important to the least, you will know exactly what you can trim in order to stay within your budget constraints.
Avoid Adding on Extras
You are partway through your kitchen remodeling project and suddenly realize that French doors would look spectacular. Yes, it may look nice, but remember, every change you make once the project begins is going to add time and money to the project. Even small changes can send a contractor’s schedule reeling, and that is going to cost you money. Whenever you're tempted to add something to your renovation wish list, consider the real cost of the change. It isn’t just the price of the item (like the doors) you have to think about, it's the added time and the effect it will have on the overall project.
Find a Qualified Design/Building Firm
It may be tempting to hire a cheaper or less experienced contractor to help save money on your remodeling project, but be wary — a less experienced contractor may cost you more later when you have to fix mistakes. A professional construction firm like Owens Construction has the experience and the knowledge to tackle any project and get it done on time and on budget. With more than 30 years of experience, our trusted team is able to handle any problems that may arise and always works hard to ensure your complete satisfaction with every aspect of the job. If you are looking to improve your home, call Owens Construction for an in-home design evaluation and cost estimate.