Remodeling your home can increase its value, as well as provide more comfort and function for your family. Whether you’re remodeling the kitchen, bathroom, living room or another space that needs an update, you’ll want to be well prepared for all the costs, especially if you’re on a tight budget.
To help keep your project on track and prevent you from going over budget, HomeAdvisor offers nine mistakes to avoid:
1. Not Having a Firm Plan. Not knowing what you want from the outset can make it hard to create and stick to a realistic budget. Go into your remodel with a solid plan, and beware of changing your mind halfway through a project–switching things up can get expensive.
2. Not Planning Around Your Remodel. Fixing up the kitchen? Be sure to budget for carry-out orders on the days you won’t be able to cook. If you’re remodeling bedrooms or completing a project that requires you to be away from the house for a day or two, you may want to plan for a hotel stay.
3. Leaving Little Details Out of Your Estimate. You’ve budgeted for large items like flooring and tile, but what about the smaller details? Costs for essentials like light switches, doorknobs, hinges and cabinet hardware can add up.
4. Miscalculating Your Paint Job. It’s easy to figure the cost of paint, but don’t forget to include the price of rollers, tape, plastic sheets and primer in your total estimate.
5. Neglecting Permits. Make sure that either you or your contractor obtains the necessary permits for remodeling projects. If you forget, you could be dinged when it comes time to resell your home. In some cases, you may even have to pay a fine.
6. Finding Water Damage. It’s not uncommon to uncover water damage when you open up the walls for a remodel. Be prepared to pay a hefty price to fix mold, mildew and warped wood.
7. Discovering Electrical Problems. In an older home, you may find some outdated wiring. Get an inspection done prior to renovation to make sure everything is in working order and save yourself trouble later on.
8. Overlooking the Cleanup. Remodels are messy. Be sure to factor in a cleanup following the final days of renovation. You’ll need help dusting, scrubbing and disposing of any leftover materials.
9. Not Having a Big Enough Cushion. A good rule of thumb? Budget 20 percent more than you think you need in order to avoid financial strain. Best-case scenario, you’ll have cash left over to use for something fun!
