The 4 Unexpected Renovation Costs
As homeowners, we dream about the possibilities with our homes. While planning the next project, it's good to know what your budget should look like for what you want. When creating your budget, it's important to account for these 4 unexpected costs.
Our goal in sharing these is so you can be prepared for your next home remodel.
01
Job management costs
THIS MAY INCLUDE:
Moving furniture
Tarping
Portable toilets
Privacy Fencing
Soil analysis and removal
02
Structural or Code issues
THIS MAY INCLUDE:
Water damage
Rotting wood
Foundation cracks
Termite damage
Outdated plumbing and electrical wiring
03
Escalation clauses
THIS OCCURS BECAUSE
Construction material regularly changes in price and therefore, may increase between the time of the project starting to the end.
04
Allowances and line items
THIS MAY INCLUDE:
Cabinets
Flooring
Lighting
Countertops
Paint
Hardware
Here's a Scenario:
If you're given a $10,000 allowance budget for your project and with your selections end up spending $15,000, you would be responsible for paying the $5,000 difference.