All too often, homeowners dread their home remodel. This is partially due to unexpected costs, as renovation costs are often higher than what homeowners think. However, setting the right budget and understanding the breakdown of construction costs can help ensure your remodel is as exciting as it was meant to be.
To gain a better understanding into the world of remodeling and to take control of your renovation costs, we at Alair Homes Barrie offer the following tips:
Establish a Budget and Stick to It
Budget restrictions make the homeowner and the renovation team focus on what really matters. Focusing on these items helps make the project run smoother. Furthermore, it helps eliminate awkward conversations concerning unaffordable costs. It also helps eliminate unwarranted choices, which can lead to added costs. Therefore, before embarking on your renovation project, set a budget that you are comfortable with and stick to it.
When setting your budget, be sure it is realistic. It’s easy to look at a design project and be misled about what it really costs. In fact, there are many factors at play behind the scenes that will affect your costs. These factors include where you live, supplier costs, construction costs, and level of finish.
Your renovation team can assist you with setting a realistic budget. They should have a thorough understanding of the various costs associated with your project. You could also ask family and friends who have had previous renovations. Once you set your budget, set aside 20 percent for unforeseeable costs, such as utility costs, so you remain on budget.
Understand the Costs
It helps to know exactly what’s included in your agreement, so it can help you understand the breakdown of numbers. For instance, construction costs are typically described in dollars per square foot; however, it doesn’t include soft costs, which are the fees for designers, consultants, and permits etc., therefore, it’s important to keep this mind when receiving contractor quotes to construct.
To gain a better understanding of the breakdown of costs, be sure to work with your renovation team who can explain all costs as well as how they relate to a timetable, which will help you understand what is required, so you can stay on budget.
More Ways to Help You Stay on Budget
To ensure you stay on budget, you could always accumulate more resources prior to your project in order to ensure you get exactly what you want. You could also lower your costs by changing the extent of the project. For instance, instead of constructing a full kitchen remodel, you might just add new fixtures and appliances until a later date.
By incorporating these tips from Alair Homes Barrie into your next renovation project, you can save time, money, and stress. Avoiding these things ensures that you are free to enjoy your new additions.