How to avoid making your remodeling project cost more

So, you’re interested in a remodeling project? Perhaps your kitchen is stuck in the 1970’s, or you’re experiencing some water damage in your bathroom that needs to be addressed. And, if you’re like most homeowners, a remodel is likely one of the most expensive purchases you plan to make, and, you likely have a budget you need to stick to.

Sticking to a budget can be hard, especially if its for a project you’ve never done before. How much do kitchen cabinets cost? What about a toilet? A bathtub? Kitchen countertops? Drywall? Is the average remodeling cost found on Google accurate? With such a wide range of costs available for most materials, the final project price can increase quite quickly.

Luckily, no matter the project (bathroom, kitchen, basement, addition, etc.) there are many moving parts and therefore, many ways to save money. First, working with a professional who can guide you on which items can help you say in your budget while still accomplishing the final overall look is immensely important. Also, to create your budget and ensure you stick to your budget, it is important to:

Prioritize

Depending on your budget and the size of your project you will likely have to prioritize materials, items or features to determine which you should spend more of the budget on. To determine which aspects are most important to you and your family, consider:

• What do you want this completed project to do?

• What do you want to splurge on?

• Is this item so important that you are willing to stretch your budget?

• What are you willing to compromise on?

• Is there a middle ground item that you have yet to consider?

And, when considering the answers to these questions it is important to remember that a qualified contractor can hep you find items that may better fit in your budget while keeping your final desired look in mind.

Create a plan with cost estimates

If you’re working with a general contractor, creating a cost estimate should be part of the bidding (or estimating) process. Don’t be ashamed to tell your contractor upfront about any budget concerns you may have as they may be able to assist you in keeping with your budget. Make sure any estimates you receive include costs for items such as paint, knobs, faucets, tile, flooring, taxes, shipping, as well as larger items like appliances and cabinetry. It is also important for you to consider whether you may incur additional living expenses during your project as this can also help you determine your final, overall budget.

Work with your general contractor to help with budget

Often, contractors have connections and can help you get materials for less or have the knowledge necessary to help you find comparable materials that fit within your budget. Be open when talking with your contractor about what you want as well as your budget. Also, when looking for materials make sure to state your budget outright to any third-party vendor (i.e. at the marble store) to ensure you don’t go over and aren’t shown materials that are over your budget.

Prepare for changes

Do you have wiggle room in your budget for any unexpected changes? Unfortunately, despite the best of estimating efforts there might still be some changes to the final cost of the project. Sometimes contractors will face a situation with funky wiring, plumbing or electrical, such as work done by inexperienced individuals. And, in many of these situations, the work done is not up to code. When this happens your contractor will need to fix it, which could increase the final cost of the project.