When embarking on a home renovation journey, it’s easy to get caught up in the excitement of transforming a space. If you’re not careful, the overall cost can rise to the point that it will hurt your budget. Understanding what can increase renovation expenses is crucial to help you prepare well before the project can even begin and ensure your budget remains intact. In this blog post, G.M. Roth Design Remodeling discusses six factors that can significantly impact the cost of your renovations.
1. Complexity of Design and Material Selection
As a homeowner, choosing high-end, custom features or rare materials for your bathroom or kitchen can dramatically increase the project’s cost. Exotic stone countertops, custom cabinetry and high-end appliances from niche brands may personify your unique style, but will also drive up the budget. Consider working with a remodeling contractor who understands your vision and can offer transparent alternatives that achieve a similar look without breaking the bank.
2. Structural Complications and Code Compliance
Encountering issues mid-renovation, including damaged beams, outdated electrical systems or non-compliant plumbing, can be a significant hit to your budget. This is especially true in older homes, which may require additional updates to bring them up to current building codes. Communicating frequently with your contractor and having a thorough inspection before kicking off renovations can help you prepare for such instances.
3. The Domino Effect of Changes
Renovations can be a fluid process, and seeing the work unfold inspires changes to the initial plan at times. However, altering the design or materials after the project has begun can be costly. Even a slight deviation from the set plan can lead to cascading changes that affect plumbing, cabinetry and labor costs. Be firm about your choices and work closely with a contractor who’ll be transparent with you about the implications of any change you might want to implement while the project is ongoing.
4. Specialist Trades and Custom Work
Certain aspects of home renovation projects may require skilled tradespeople, such as tilers, electricians or plumbers. Custom joinery or stone work might also necessitate the expertise of craftsmen with specific skills. These specialists come at a premium price, justified by the quality and safety of their work. A reliable contractor will be upfront about these costs and help manage them effectively.
5. External Factors: Shipping and Labor Costs
External factors like increased shipping costs and seasonal availability of labor can also bump up renovation expenses. The price of materials and furnishings can soar due to supply chain issues, and labor rates may increase due to demand. Working with a contractor who maintains good relationships with suppliers and understands the local labor market can mitigate these challenges.
6. Disposal and Cleanup Costs
Renovations can generate a significant amount of waste that must be disposed of according to local regulations. Dumpster rentals, hauling fees and potential costs for disposing of hazardous materials can add up. Professional contractors factor these costs into their quotes and handle the disposal process, ensuring compliance and cost-effectiveness.
Home remodeling should be handled by a reliable professional with extensive experience and knowledge, making sure issues are kept at a minimum. Count on G.M. Roth Design Remodeling’s experts to do it for you correctly the first time. Call us at (603) 880-3761, or visit our website to get an estimate.
