Home remodeling projects can range from short, tidy, and affordable to large, luxurious, and expensive, but the hidden costs of home remodeling can put a fair dent in your wallet if you don't do your due diligence and research.
Here are some hidden costs of the average home remodeling project that you can avoid with a little planning and some assistance from an experienced home remodeling contractor.
The Permit Process
Permits are a necessary part of building just about any major structure, and they're a part of the remodeling process, too. Permits can represent a fairly significant roadblock to anyone who isn't already familiar with them, and permits are one of the best reasons to work with an experienced contractor who not only knows how to get permits but understands the requirements of them.
The blog at Bob Vila's website reveals:
"When it's time for a renovation project, homeowners can’t just whip out their power tools and start construction. If the job involves anything beyond surface changes, you'll probably have to secure some permits first. Depending on the extent of the renovations, the cost of permits can range from the low hundreds to thousands of dollars."
Permits aren't exactly the most entertaining part of your home remodeling project, but they're a necessary part of the process. Don't make the mistake of thinking you don't need permits for your project. Having to tear down a project or begin again because of a lack of valid permits can cause the price of your project to skyrocket.
Changing the Plan
According to an article from HGTV, one of the biggest costs is not the overall project scope but the "creep" that occurs when a homeowner changes his or her mind about something.
"Ninety-five percent of costs come from inadequate scopes of work and scope creep — basically, change orders."
Spending the time to plan the project can help you avoid those last minute changes that can make it difficult to cover costs as the budget swells. One of the worst things that can happen with budget bloat is when you plan a custom feature and change your mind before the item is finished.
Hidden Problems and Hidden Costs
Sometimes a cost that increases the cost of your home remodeling project isn't your fault and can't be helped. Finding some damage inside the walls or some other problem can increase your costs, and many home remodeling contractors will suggest a contingency fund to cover these costs.
Policy Genius says:
"The truth: Most renovations will cost more than you expect. It’s estimated that nearly half of home renovations go over budget."
Some home remodeling projects will go over budget because of unanticipated problems. Maybe a load bearing wall needs fortification. Other home remodeling projects will see an increase in their cost because of a last-minute decision.
No matter the reason, putting some extra funds in the budget for "what ifs" can help ensure the project can proceed to completion without undue financial stress placed on the family.
Why Choose Gettum Associates for Your Next Home Remodeling Project?
We're a full-service home remodeling company that can help you with every facet of your project, from design and planning to execution and completion. Let us bring our expertise in design and remodeling to help you create a dramatic and beautiful exterior for your home.
Call us at 1-317-542-3853 for more information on our services, as well as to discuss your kitchen project and how we can help.
Plus, if you're ready to get started on a renovation project, you'll want to download our guide: Seven Questions to Ask When Choosing a Remodeler in the Indianapolis Area.