Budget Busters in Home Remodeling Projects

Home remodeling and surprises go hand in hand. You plan on creating the perfect new kitchen, have an amazing plan, and can’t wait to get started.

But, then, you realize your plumbing is shot and whoever did the electrical in your home was, shoddy, at best. This is what’s called a budget buster. An unexpected surprise during a renovation that takes your dreams of being in a magazine and turns them into…well…I hope we have a floor at the end of this.

Here we lay out some of the top budget busters in home remodeling projects so you are aware and can prepare for some unwelcome occurrences.

What’s Lurking Behind Your Walls?

Oh, the walls. They are such a mystery. You rip one open and there could be nothing of note or you could face issues like mold, rats, mildew, water damage, poor construction, bad plumbing, faulty wiring, or more.

Your best chance at getting a good idea of what’s going on behind those walls is to hire a professional contractor with a lot of experience with home renovation. An experienced contractor will leave wiggle room in the budget for unforeseen issues.

So, when you open the wall, the surprises don’t bust the budget, the surprise was already worked in.

Become Familiar With Your Building Codes

Doing some research before you begin a project is a good idea. Research the building codes involved in the project you’re planning. Know what will require permitting and inspections before you begin.

Make sure you’re looking at the most up-to-date literature, as building codes change through the years and whatever type of renovation you’re doing needs to be done to the current codes.

A misstep in building codes can cost days or even weeks of the timeline and double the money you allocated for that portion since it all needs to be redone. By doing research ahead of time you save yourself headaches in the future.

Factor In What You’ll Do With All That Demo on Demo Day

Many homeowners don’t account for the expense of debris and waste management during the renovation project. In addition to the labor, construction, and repairs you’ll also be responsible for providing dumpsters and waste removal for the construction mess.

If only a portion of your home is under construction, and you’d rather not share your guest bath with a team of construction workers, you might also consider providing rented portable toilets as well.

Major Increases To Your Utilities Is Normal During Renovation

When you are undergoing a renovation there is a ton more foot traffic going through your house than on a regular day. The comings and goings of the construction staff and other people will drive your heating and cooling expenses up.

Additional electricity will be used for power tools, lighting, and other tools. If you are going to have an exposed wall or ceiling, for any amount of time, utilities begin to go through the roof.

You can expect 50% or more increases while doing home remodeling projects than the normal rate throughout the year.

The Comfort and Safety of Your Family Might Become An Added Expense

Most families, at the outset of home remodeling projects, expect they will be able to rough it out and live in the home during a renovation.

Depending on the type of remodeling you’re doing, even if you are able to stay in the home, you’ll be facing additional costs that you don’t usually pay. If you’re renovating your kitchen you won’t be able to cook or store food for a decent amount of time.

While sandwiches work for a while you’ll end up spending more on convenience and delivery foods in the long run.

If you have children, or not, you might realize living in a construction zone is just too stressful and sometimes dangerous. So, you’ll have to factor in hotel costs during the renovation.

Having The Right Expectations, and Some Money Put Away, Will Help With Surprises During Home Remodeling Projects

Even in the best case, home remodeling projects have surprises, most of the time. It’s a good idea to have an additional amount of money set aside for unexpected expenses. About 10% of the original proposed budget in extra cash on hand is super helpful.

This means you’ll be less stressed and have more flexibility to make different decisions if the original plan isn’t working out as you’d hoped.

Ready to start some home remodeling projects of your own? Georgia Home Remodeling can help!