You know going in that your home renovation project is going to mean a number of expenses. Before you begin, it’s important to set a budget that you can live with–but once you begin the remodeling process, it doesn’t take long before your costs start piling up. These steps, however, will make it easier to control costs during your home renovation project.
1. Check your contract
If you’re working with a home improvement contractor throughout your renovation, make sure you read the contract carefully. While you will be responsible for paying for any changes you make to your initial plan, your contract should include a clear estimate of your costs–including labor and overhead. Make sure you keep an eye on the contract and that you’re working with a reputable, trustworthy contractor in order to take care of your home renovation needs.
2. Make a clear plan
Before you start your renovation, make sure you know exactly what you’re attempting to accomplish–and exactly what it’s going to cost. Don’t fall into the trap of deciding to take on more projects “because you’re already in there.” Instead, start with a clear plan that fits your existing budget. Then–and this is critical to sticking to your budget–don’t make changes to the plan! When you make changes, you can increase your expenses little by little until suddenly, your budget looks nothing like what you originally intended.
3. Know your limits
If you prefer to handle renovations yourself instead of handing them over to a contractor, make sure that you know your limits! Do-it-yourself renovations are a great way to save on the cost of labor, but they can also add to increased expense when you discover that you’re over your head and your amateur efforts have created more problems than you can fix alone.
4. Choose quality products
This doesn’t necessarily mean choosing the most expensive products available for your project. Rather, it means choosing products that you know will hold up long-term, rather than needing to replace cheap materials during the building process or repair them shortly thereafter. Check reviews on products or talk with your contractor to discover the best materials to use, not just for appearance, but for longevity. If you can’t afford quality materials for your project, consider waiting until your bank account will support the additional expense.
5. Be honest with your contractor
At Alair Homes Edmonton, we prefer to have honest conversations with our clients. Be clear about how much you can afford to spend on the project. Your contractor may know some money-saving tactics that can help make your dreams reality–or they may let you know that you’ll need to save a little longer before you finish your project. An honest conversation at the beginning of the project can save everyone time and money along the way.
Your new project doesn’t have to be a drain on your finances, leaving your stressed out and unsure how to proceed. By taking these tips into consideration, you’ll find that you can take this latest step toward the home of your dreams without draining your bank account or discovering more unexpected expenses along the way.