Renovations can be tough on the wallet. Yet many homeowners want to add square footage to their home, redo their kitchen, or convert a garage into living space. If you want your renovation project to stick within your budget, here are some tips.
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- Get a professional to direct and oversee the whole job. Your contractor may have a keen eye for design, or an excellent interior designer, but will they be able to manage the entire project? They have years of experience, so they should be able to combine it with an understanding of installation techniques and cost controls.
A good contractor is hard to find these days, but if you need an expert who can handle all facets of renovation, consider building your own website. You can list all your skills and experience, along with testimonials from previous clients.
- Set up a schedule for the project and stick to it. You should have a general time-frame in mind before you choose a contractor, and include him in your planning stage.
You will likely be surprised by what can be accomplished in the least amount of time, but if you’re too hasty, then you might jeopardize your investment. Build up a budget and stick to it, so you don’t have to cut corners.
- If you’re renovating an existing structure, get professional estimates. Compare these bids with the initial estimate (which is not always an accurate indicator of what it will cost), and make sure you’ve got realistic budget projections in mind.
This is the only way to keep a renovation project within the budget you’ve set for it.
- Don’t expect your contractor to be a mind reader. When you hire someone to do a job, don’t expect them to know everything. If you have specifications that are specific — like the number of windows, or the type of cabinets you will be utilizing — make sure they are specifically spelled out in writing so there are no misunderstandings and costly errors.
- Make detailed plans and architectural sketches before moving ahead on renovations. It takes a lot of time to come up with the detailed layouts you need, but it’s worth it.
You may choose some features that weren’t included in your initial budget, so you’ll want to adjust accordingly.
- Negotiate — but don’t be a jerk about it. If your contractor bids $200 more per day than he expected, ask him to consider $150 instead.
However, make sure that the extra costs are actually necessary before you make the request. Many contractors will want a percentage of change to get their extra cash, so keep things reasonable when asking for it.
- Price out your options before you start the renovation. If you are renovating your kitchen, and the tiling is being done by a specialist, price out the specialty sanitary fixtures that he will need to install prior to starting the actual renovation of your kitchen cabinets.
Some contractors like to get all of their materials as a package deal, which might be cheaper for you in the long run, but make sure you’re getting what you need for your home.
By following these tips, you can keep the renovation of your house on the right track. Make sure that everyone involved has a set role and is working with defined deadlines so nothing falls through the cracks. If you are having trouble with your contractor, don’t be afraid to have a word in their ear.
Show them that you know what they’re doing and need their input, but also make sure they know that they are the ones who will get the final say.
Bonus Tip: Have a party to celebrate the completion of your renovations? We all know how stressful it can be when we aren’t able to get everything done by the time we want it done.
If you’re in a position where you can’t get everything done by the end of the day, leave it until the very last minute. Your contractors are probably stretched pretty thin, and there’s no telling what could go wrong when they have to work at breakneck speed.
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By asking yourself some key questions before hiring a contractor, you’ll be able to know whether or not they’re a reliable choice for your renovation project.
- Are they licensed and insured?
If they carry the required licenses and insurance, then you know that your renovation will be completed in a safe, professional manner.
- Will they work within your budget?
Ask them to give you an estimated cost before committing to any sort of contract so you won’t be taken by surprise later.
- Do they have general liability insurance?
If so, this means that if something goes awry with their work, the damages will be covered by insurance if it’s proven to be their fault.
- Can they provide you with references?
A good contractor will want to assure you that they’re a great option! Show them that you’re just as confident in your choice by requesting references.
You can then pick up the phone and talk to their former customers about the quality of their work and how well they communicated.
- More than anything, do they have excellent communication skills?
When you’re hiring a contractor, the most important factor is that you feel comfortable with them. If you don’t feel like they’re on the same wavelength as you, then there’s no point in working with them. If you have any questions or concerns, don’t be afraid to ask.
A good contractor is more than willing to communicate with you throughout the process!
Bonus Tip: Before signing a contract, make sure that you’re getting everything that was discussed in your initial meeting. If there are any additional charges (which may be legitimate) make sure they are included and that you’re fine with the amount.
