When you think about home renovation, what is the first thing that comes into your mind?
Renovations are the answer for homeowners who want to give their homes a fresh new look.
From the first step to the last, there are a lot of things that should be considered when renovating your home.
The main thing to determine is the actual cost of the home renovation project.
This is factor that homeowners often underestimate.
Let’s take a closer look at why this is happening.
Main expense items for home renovation
When you make your plan do not forget to include the cost of your contractor’s labor, products, and overhead when calculating your home renovation budget.
The total home renovation cost will depend largely on how much work there is to do, as more expensive projects tend to require more labor and time.
You will need dismantling services and construction waste disposal, designer services, the help of licensed electrical, plumbing, and gas experts
These are stages that are often not obvious before starting a project, so their cost may remain underestimated.
Homeowners also do not take into account the cost of new floors and new windows, attic and basement renovations, and the installation of a new deck.
For example, attics are always the hardest part of any home renovation project because you need to choose and properly install attic insulation.
This often has to be done under low ceilings and in hot weather.
The bathroom of a house holds a special place in every individual’s life, so it’s no wonder that this area is considered to be one of the most important parts of the house.
Bathrooms vary from being simple to luxurious.
This is one of the most expensive premises, as it usually requires replacement of both systems and finishing.
There is not a good idea saving money on the bathroom as you risk getting damp premises and mold.
A bathroom renovation in Canada will cost you approximately CAD $ 12,000.
Kitchen Renovation can be done if you want to add more storage or upgrade the appliances or the countertops.
Due to the high cost of new kitchen appliances and systems repairs such as ventilation and extractor hood, the kitchen renovation is quite expensive.
The average kitchen renovation cost is CAD $15,000.
The cost of materials can also vary greatly depending on the style and materials you choose, so you should gather several estimates and compare them to your budget.
Overhead expenses can really add up, especially if you are getting professionals who charge a lot for their services.
These include not only the company’s own overhead but those of the subcontractors as well.
How can I reduce my home renovation costs?
Think about why you need renovation and what problem it will theoretically solve. There are a few ways to save:
- You should get several quotes from different contractors. Ask them for the upper and lower price limits, and try to find out where the cost drops are.
- Once you choose the right tasker conclude a contract that includes a clear plan of how the renovation will happen with the prices for each stage.
- Also, check to see if your current contractor offers discounts on materials and labor for new customers.
- Do something on your own only if you definitely have the time and the necessary skills for it. Otherwise, you risk getting stuck in the process or spoil the job.
- Keep a contingency fund for unforeseen extra costs. The Fee4Bee experts recommend keeping 10-20% of the total cost in reserve, especially when it comes to renovating older homes.
- Implement energy-efficient technologies. This can hardly be called “savings” during the renovation, but it will significantly reduce your energy bills in the future.
- To reduce the cost, you can split the process into several steps. This will allow you to save up some money to continue the renovation process.
Choosing the right home renovation companies
Home renovations usually require the involvement of specialists. How do you know the right home renovation contractors for your project?
There are a lot of home renovation services that offer great prices.
However, it doesn’t mean that all these companies are equal.
You have to research extensively on different home renovation services in order to find the best company that offers an affordable price and quality service.
Here are some questions to ask your contractor before you start the remodeling project:
- How do I account for the wear and tear of my home? Older houses often require more care when it comes to repairs and house renovation costs. There are also instances where the walls or windows have to be repaired because they have been damaged due to weather conditions.
- Ask what the company’s renovation contract covers and how they deal with potential problems (remember that surprises can mean additional costs).
- What material’s discounts your contractor has in stores. Some materials are cheaper to buy yourself if you know what to buy. But in many cases, repair companies have their supplies or agreements with stores that allow them to buy materials at wholesale prices. Use it if possible.
- Some of the home renovation services include home extension, improvement and restructuring, remodeling, and other similar services. Before starting your project you should first determine what type of renovation you want to have done.
When you are looking for the best and affordable renovation services providers, it is important to compare their rates and services.
Explore the renovation companies, ask for some referrals from your friends or families, search for reviews over the internet, and contact the Better Business Bureau before you hire the first contractor you meet.