You have budgeted for out of your home remodeling project, went out and received the support and has also signed an agreement with your chosen remodeling professional or general contractor. All of this is good, exactly what you should have done, but if you are worried that you may still end up exceeding your original budget or facing unexpected expenses, you are, unfortunately, not entirely wrong.
A good general contractor or other remodeling professional will always give the best estimate, he or she can, but sometimes there are surprises along the rebuilding of the ways that can cause costs to exceed the original estimate, and that simply could not have been foreseen when they told them they appreciate.
For example, let us say that you have hired a local roofing companies that simply replace a couple of tiles of your roof. The problem is that when the carpenter gets up there and starts to remove the old tiles, they may discover that the wood below is rotten to the core, and suddenly the first a simple task becomes a completely different whole. Not atypical cases like this, the cost to complete the task is, of course, will change, perhaps by a substantial amount.
Alternatively, perhaps the builder exercises on a wall and find something completely unexpected, like a dry rot, wood worm or damage caused by the pests. Again, no real fault of their own, the cost of the work will go up.
Another factor is the cost of building materials. If your remodeling job is one that will take a long time or if you have received your estimate several months before the start of the work – there is always a chance that the price of the consumables used to complete the project as agreed will increase, and with it, the works of the law project. If the contractor includes the cost of delivery, in his estimation, that prior to the signing of the contract, ask if these costs can be changed and, if so, how this situation will be addressed so that this can be written into the contract.
Owners can also be your own worst enemy when it comes to the offside of your remodeling budget. It is oh so tempting to change your mind and choose the more expensive tile or more sophisticated bathroom fixture, when the project is in progress. Most contractors don’t mind, but understand that your costs will increase, and not to act surprise when the final invoice is higher than expected.
If you are going to make a change, make sure you understand the costs, both in terms of materials and workmanship before sending a change order to its contractor.
The best way to avoid being stung by hidden and unexpected remodeling costs is a budget for them in the first place. When you have the final budget add at least 5%, maybe as much as 10%, for it to be safe. I hope that you don’t need and you can spend the extra on a nice new carpet, or something similar, but you will at least have the safety net that is there if you need it.
Ursula K Rose – Renovation Experts USA
You can find a lot of useful information about finding a suitable home renovation contractor at Renovation Experts and read our home Renovation with Renovation Experts Blog, which is updated several times per week, with renovation articles.