For most people who have taken on a home renovation project, staying on budget is easier said than done. The overheads may be caused by poor planning, changing the plan midway or use of inexperienced people. While the result of using more money can be beautiful, it can set you back financially or cause you to get stuck partway before finishing the project. These five tips will help you keep your renovation cost under control.
The more details you can provide to the contractor, the less confusion or misunderstanding there will be. Give specific details like installing new granite countertops, adding a particular number of cabinets or replacing the floor tiles. Apart from ensuring the contractors don’t do what they want, you will be able to get precise estimates that you can use to make a plan.
Work with Professionals
The downside to working with unprofessional and inexperienced people is that the result will be substandard. This will cause you to feel unsatisfied and maybe even forced to redo the entire project. A professional contractor, architect, and interior designer will be able to give you the correct estimate. This team will also deliver what you wanted efficiently because they have done it many times before. Professionals will also take care of all the legal details like permits and deal with any structural issues.
Stick to the Plan
‘While you are at it’ is one lethal phrase that you should avoid at all costs. It’s very tempting to want to get the wall to match the carpet. Then you may realize that the curtains don’t match as well, so you decide to have those changed as well. These changes may be useful, but you need to remember they cost money that wasn’t initially in the plan. Have someone who can control your urges to make changes or be absent during the renovations.
Have a Fixed Contract
Ensure you get a fixed bid from your contractor instead of time and material basis. Open-ended agreements can go to unbelievable levels that you won’t be able to manage especially if you have a greedy contractor. The contract should include all the job specifications including materials so no changes will be made midway.
Budget for the Unknown
Unfortunately, no project goes entirely smoothly, and there will be contingencies to be covered here and there. Such problems include structural damage that should be corrected, unavailable materials that must be sourced elsewhere so they are more expensive and any damage to the pipes or wiring that must be repaired. There are also other additional expenses that one may ignore such as staying at a hotel or eating out during the renovation. Always ensure you allocate contingency money of at least 10% to cover for any unexpected occurrences.
Sticking with the plan may be hard, but it’s possible with these and other tips. If for some reason your cost is starting to go haywire, it is okay to compromise and pick something that is of less value but still looks good. Alair Homes North Vancouver will help you come up with a sustainable budget for your home’s improvement and provide professional services at a very affordable cost.