Remodeling is a perfect way to stay at the property you have. Moreover, making improvements will help you live better. Yet everybody heard the horror stories of going over the remodeling budget by 50 per cent or more.
To tell the truth, even contractors would agree that it is difficult to provide an exact price on the job because often unforeseen circumstances will cause the price to rise. I still recommend factoring into what you think you can budget for around 20 per cent. But understanding what you want right from the start and sticking to that expectations will help the project stay on track. Even though it seems it is going off the track.
Understand the reason you want to remodel
Looking to lift the resale value? Enhance layout? Does energy quality improve? It could be a mixture of a variety of factors but make sure that you are rational. If you want appliances that are pro-style but eat most evenings, you may want to rethink them.
Our client decided to double the size of his kitchen in one project because it seemed like he had no counter room. We spoke to him about how he prepares meals and tried to increase the amount of available counter space instead of just making the kitchen larger, instead of just going for space.
Establish a budget for which you are happy, and set aside 20 per cent to cover the unknowns that eventually occur. Your designer can tell you during the design process of the sum that is your budget build-to. Before you start construction you can avoid the temptation of investing your contingency. A contingency is not a slush fund that can steer you toward the appliance and finish improvements if you can stop spending.
A contingency is an important part of construction costs, in particular remodeling, which is as worthy of budget allocation as any other aspect of the project. Unknowns are very difficult to foresee, and therefore can easily push the project beyond budget.
When you make an initial wish list, there are likely to be a lot of competing products, but just don’t start whittling it down yet. You’ll want to set it aside, speak to family or friends and post a Houzz discussion. Speaking of your ideas can help to explain the project.
Designers can help you understand the impact of what you want to do (and often help you find effective ways to get there), but you’re the life expert. Often recording how you do things around the house (cook dinner, entertainment) pays off. This can help to pinpoint difficult areas. These are the things to focus on so that you can get the most bang for your buck.
Also, you can write it down and store it online in a folder. This may seem like a waste of time (you know what you want), but there are plenty of shiny objects that can stand between you and a good remodel in the thick of getting your project done. Written down your expectations will encourage you to stand back in the heat of the moment and decide whether a new option would get you closer to your goals or farther away.