Estimating the Cost of a Home Renovation Project

This article highlights the costs associated with a home renovation project. Take a look at what important steps need to be taken to get an estimate before work begins.

A home renovation project can be very demanding and expensive if you fail to plan prudently. It is something that requires time, effort and the right amount of money. Cost is what people worry about the most when taking on big projects and it can be difficult knowing how to budget when doing improvements to the home.

Below are some useful tips that can be followed and used when estimating the cost of a home renovation project using a professional remodeling contractor such as Heilman Renovations. 

Zero in on your Important Home Renovation Choices

The first step in figuring out the cost of the remodeling project is actually knowing what will be done to the house and how much you’re realistically willing to spend. Don’t try to be coy with a contractor – let them know your maximum budget and that you’re not going to go over that amount. This makes it easier for them to choose materials and give you options that are within your means. 

Are there specific styles that need to be implemented? Will the house want certain features? There is a long list of things that needs to be looked at, but it is important to write every change that needs to be done to the house down. 

Without specifics, you are only going to get very imprecise quotes from home renovation specialists, and it is unfair to expect them to give you definite quotes with only your vague description. Once everything is down on paper, it is a lot easier to go out and get an estimate for the materials, labor plans and permits (if needed).

Check with the Home Improvement Professionals

A good way to get a proper estimate for a home improvement project is by going to architect, engineer or a contractor. While these individuals will have to be paid for their time, they know exactly how much a project will cost, including what could or could not go wrong. Because they do this professionally, they know the pricing of materials, labor and how much time each project will take. They can give a rough estimate of everything that needs to be changed and most importantly, they can deliver a budget for how much the project will generally cost.

It is also a good idea to speak with different contractors to see what each one may charge for the project. More importantly is feeling that you can trust the home renovation team. An estimate that is significantly lower than the average you get may be cutting back too much on materials, or you may see the actual cost coming in as much higher.

Just Remember It Is an Estimate

When taking on a project, individuals need to be aware that an estimate is just what it says. These are never set in stone and there is a good chance costs could go up significantly from what was written on paper. Check with the home renovation company their policy on costs which run away from the project; you should check your contract to see how much you are protected. There are many unexpected events that can take place with remodeling projects and these could be anything from something minor to something major. The key is to be flexible and have a buffer for unexpected costs that may pop up. Your contractor should be advising this.