So, you’ve decided to take the plunge and remodel your home. Exciting, right? But before you start knocking down walls or picking out paint colors, let’s talk about the budget. It’s the backbone of any successful remodel, yet so many people get it wrong. Here are some of the top mistakes people make when budgeting for a remodel and how to avoid them.
1. Skipping the Showroom Visit
We get it; online shopping is convenient. But when it comes to remodeling, what you see on your screen might not be what you get. Skipping a visit to a showroom can lead to some pretty disappointing purchases. You might end up with materials that look nothing like the pictures or simply don’t meet your quality expectations. So, take the time to see and feel what you’re actually buying. Trust us, it’s worth it.
2. Forgetting the 20% Emergency Fund
Ah, the unexpected surprises of remodeling—like finding out your walls aren’t exactly straight or discovering hidden water damage. These are the curveballs that can throw your entire budget off track. That’s why it’s crucial to set aside at least 20% of your budget for unforeseen expenses. It’s better to have it and not need it than to need it and not have it.
3. Last-Minute Material Changes
We all have those “Oh, what if we did this instead?” moments. While it’s okay to change your mind, making last-minute material changes can seriously inflate your costs. Suppliers may charge restocking fees, and you might even have to pay for rush shipping. If you’re going to make a change, do it early in the process to avoid these extra costs.
4. Opting for ‘Discount’ Materials
Who doesn’t love a good deal? But beware of “discount” materials that seem too good to be true. For example, over-baked tile might be cheaper, but it’s also prone to warping, making it a nightmare to install. In fact, we won’t even install it. Always check the quality of materials before making a purchase. Sometimes, you really do get what you pay for.
5. Overlooking Labor Costs
Materials aren’t the only expense in a remodel. Labor costs can make up a significant portion of your budget. Make sure to get a detailed estimate from your contractor and factor this into your overall budget. Cutting corners on labor can lead to shoddy workmanship, which will cost you more in the long run.
Budgeting for a remodel is a balancing act. You want to create your dream space without breaking the bank. By avoiding these common mistakes, you can keep your project on track and your wallet happy. And remember, if you’re looking for a reliable contractor for your remodel, we at Vermont Renovation and Remodeling are always here to help.