No matter how much you budget or plan, there are bound to be some remodel costs that you don’t expect. Working with a quality remodeling contractor can help ensure that you stay as close to your budget as possible, but it’s always a good idea to have a contingency fund for unforeseen problems.
Many of the remodeling costs that you won’t expect come from issues that you won’t see until you’re well into your project. However, there are luckily some hidden remodel costs that you can actually prepare for.
6 Remodel Costs That You Might Not Expect
Talk with your design-build team about your home’s history and what you may need to prepare for in a contingency fund. Like did you have water damage 10 years ago or forget to treat your house for termites the last 5 years. Here are 6 unexpected remodel costs to consider before beginning your project. Don’t worry, your design-builder will prepare you for these and discuss possible risks so you can rest easy.
When you begin your remodel, often the first step is to complete some sort of demolition project. Demo day! Whether you’re removing existing cabinetry or knocking down entire walls, you will end up with tons of trash and debris leftover. In addition, you will likely have tons of things that you wish to get rid of as you prepare for a new, fresh space. Tapping into your inner Marie Kondo is always fun!
Trash Collectors will likely not handle large items that are left on the side of the road outside of bins. While you’re not buying anything new for the home, you may need to plan a dumpster rental or junk removal service into your existing budget or check to see if your builder provides one.
2. Storage Space
Depending on the scope of your remodel, you may have to remove your belongings altogether from your home. While moving items to another room temporarily may be an option, it’s not ideal to live in clutter until the remodel is over, which can often be weeks or months.
An unexpected cost here can be associated with renting a space in a storage facility or an entire storage container. If going to a storage facility, you may also need to hire movers and rent a truck for transportation of large items. Clearing out the garage for temporary storage is always a great money-saving option.
3. Temporary Living
It’s possible that you may need to find a temporary living space if your home is not safe during the construction period. A little staycation if you will. This can mean that you’ll need to plan a budget for the nights spent in hotels and all the take-out food that comes with it. Better yet, plan the work to be completed while visiting family or on vacation!
4. Damage Remodel Costs
Unexpected remodel costs that can do the biggest number on your budget, are damage costs. These costs unfortunately are usually not found until you’re project is already in progress. Hiring a home inspector can help to identify some of these problems before-hand, but it is another additional cost to the budget.
Even if you’ve lived in the home for years, you may have hidden problems like mold, water damage, termites, and asbestos. Especially if you live in an older home, the probability of facing damage costs is extremely high, and something to plan for before you get your project in motion.
5. Time Remodel Costs
Another unexpected cost that comes if you face any damage issues, is time-associated remodel costs. If you have to fumigate, for example, your home won’t be safe for work for a while. In the meantime, cash flows towards things like storage and temporary living will need to continue beyond what you may have hoped.
Regardless of if damage costs arise, you may need to take off work to personally handle issues, sign off on design decisions, and acquire permits.
Permits are also not free and will require a lot of time planning to find the ones you need. Failing to get a permit can be extremely expensive because all of the work that is done without one, must be removed and done all over again. No thank you!
Talk with your design-build team to make sure that even the existing spaces in your home have the proper permits before any remodeling is started. This will save you from a ton of potential headaches.
Stay On Budget With a Remodeling Contractor
Hiring a Remodeling Contractor can help you to avoid many of the pitfalls that come with completing a project on budget. At LBK Design Build, we’ve remodeled hundreds of homes and know what to expect and what could be lurking behind the scenes. We help to prepare you for these possible issues because like you, we think that remodeling should be straight-forward, simple, and fun.
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