Two Things To Consider When Planning A Home Renovation
If you've been toying with the idea of renovating your home, you might be finally coming to the point where you're ready to turn that idea into reality. Before you finalize any renovation plans with a contractor, though, there are some things that you should think about. All too often, homeowners get lost in the concept of what they want and overlook some important facts that can affect the outcome of their renovation project. Here's a look at some things you should discuss with your renovation contractor before you get started with your home renovation.
What Changes Could Affect The Cost?
One of the things that many homeowners don't think about in the planning stages of their renovation is the fact that their estimate is based on the information provided at the time and the assumptions of the current condition of the home. As a result, that estimate is a bit of a moving target. Anything you change along the way can alter the final cost of the project, as can encountering unforeseen problems.
For example, if your renovation is priced with vinyl flooring and you decide you'd rather have hardwood, the hardwood flooring is likely to cost you more, leading to an increase in your project cost. Even seemingly small changes, like adding an extra outlet or moving the lights to a different location can affect the cost of the project.
You'll also want to allow for an additional percentage of cash over and above the project estimate for potential issues. Many homeowners consider a twenty percent emergency cushion to be sufficient. This is for things such as having to replace subflooring that's damaged but wasn't apparent at the time of the estimate or mitigating termite damage that's uncovered when the drywall is stripped out.
What Features Should Be Incorporated Now?
Sometimes, you opt to skip some of the smaller features in an effort to save on the total renovation. The assumption is that those detail features can always be added later. In the case of some types of molding, trim, or other surface changes, that could be true. However, you'll want to talk with your remodeling contractor about the things that you should include while you're already there.
For example, incorporating pull-out structures in your new kitchen cabinets or adding cut-out shelving into your new bathroom may seem like it's simple enough to do later. However, when you're paying for a renovation project that's going to leave you with all new materials in those areas, you don't want to risk damaging that investment to add something like this after the fact. Talk with your contractor about what types of features should be added while you're renovating and what can wait until you have the extra room in your budget.