Trying to figure the costs of a home remodeling project can be a bit trickier than many people realize. This is because there are a lot of components to that final tab that can be overlooked. In other words, there’s more to it than supplies and labor. It’s vital that a home remodeling budget is set, and it’s equally important to remember the “little” things in that calculation.
Here are some of the most commonly overlooked expenses and costs that can quickly accumulate during a remodeling project.
1. Permits & Fees
Depending on the type of remodeling project being completed, and the local regulations and requirements, there may be a need for specific permits and/or licenses, as well as inspections. The costs could be nominal or could quickly add up to several hundred dollars. Keep in mind; these bureaucratic steps can sometimes lead to unwanted delays, as well.
2. Cleanup
During a big home remodeling project, not only will there be a lot of materials and supplies coming in, but there’s a lot going out too – old walls, floors, cabinets, fixtures, and so forth. Even smaller remodeling projects can end up with a lot of trash and debris. Some of these things can’t or won’t be picked up by the local trash company, so cleanup or hauling of debris and trash could be an added expense.
3. Surprise Fixes
There’s a beautiful plan in place for your new kitchen or home addition. The problem is it’s based on a seamless process of completing a task. That plan doesn’t always account for underlying home structural issues that may only be discovered once a project begins. These types of fixes usually need to be made before anything else can be accomplished. The state of a house, often unknown and lurking beneath the surface, can sometimes lead to a great deal of added expense. It’s important to consider this when establishing your home remodeling budget.
4. Extra Contractors
The general home remodeling contractor hired to complete a project may need to hire sub-contractors to complete certain kinds of work, whether it’s electrical, plumbing, or HVAC, to complete the job. Be sure to discuss the potential need for sub-contractors, and the costs associated with them.
The 10% Rule
No matter what the final estimate says, it is wise to abide by the “10% rule,” which says unexpected costs should be expected to the tune of about 10% of the total estimate’s price. Materials could potentially become more expensive; there could be more labor needed; unexpected delays can arise; and many other factors can contribute to added costs of a home remodeling project, and are often not initially accounted for.
Before moving ahead with any Wichita remodeling contractor, be sure their estimate fully breaks down all of the costs so it’s clear what’s included, what’s not, how it’s divvied up, and what could potentially be extra. This will also make it easier to compare one bid to the next, and to be sure there are no unwanted surprises.