Nearly all home remodeling is
done on a budget. The size of this budget will vary from case to case and on
the circumstances under which the remodeling is being done. If it is purely a
cosmetic one, then the budget will typically be whatever can be conveniently
spent. If it is one that involves essential repairs or modifications to the
home, then the money will have to be found, even if it means making sacrifices
on other aspects of life.
But whatever be the reason and
the budget, there is no need to waste money and a little planning and
thoughtful evaluation of the need and reasons for the changes you plan to make
can help to cut costs. The National Association of the Remodeling Industry
likens planning a remodel to buying a car. You see an ad for a car you like at
a price you can afford. But if you allow the dealer to tempt you with add-ons
and optional extras you don’t need, the price can skyrocket. Being able to
differentiate the essentials from the optional extras is the basis of keeping
remodeling expenses under control.
What You Need To Do
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Use only a professional remodeling contractor
who is a member of an industry association, has the right credentials and
experience and is able to provide references. His advice can often save you
money.
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Hire a contractor who is familiar with your
local building codes – modifying work that is not code complaint can be
expensive.
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Have a detailed contract that defines the scope
and cost of the work to be done.
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Spend time planning what you want to do and the
materials and fittings that will be used. Collect the material and fittings
costs and build these into your budget so you know exactly where you stand in
terms of overall cost. Now cut down, if need be, to bring the costs within your
budget. Always keep a margin of about 20% for last minute additions and cost
escalations.
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Looking at product options can be a major way of
keeping remodeling costs down. Often the look that you want can be achieved by
using a less expensive product.
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Also, when planning your remodel, keep in mind
that some design features are very labor intensive and these can increase costs
significantly. Ask the contractor for the cost breakup of the major design
aspects or ask him for a list of the most time consuming design features you
have planned. You could achieve a major saving but dropping one to two.
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Do not be carried away with trends and fads, or
be overly influenced by what friends and neighbors have done to their home.
Collect ideas and concepts from everywhere, but never forget that this is your
home and it must work for your family. With that objective in mind focus on the
essentials and only if there is money left should you plan for the options.
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Often a cost saving can be achieved by doing the
remodeling in stages so that the cash flow can be controlled. Discuss with the
contractor the options of doing only certain parts of the house at a time,
waiting a few months and then going on to the next stage of the project. This
will ease the pressure on the family finances, but increase the disturbance to
normal family life as the total completion time could be a year or even more.
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Often one of the objectives of remodeling is to
make a cramped space feel larger. Increasing the size of a room will do this,
but it is expensive. A cheaper option, if only a larger look is wanted and not
more real space, then use colors, décor and design features to create the
illusion of space.
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