Whether you know it will happen intuitively or have the estimates to prove it, sometimes a home renovation budget requires compromises. Where you make them could make a difference in the quality of finished project that will affect your home’s value and comfort.
Revisiting Your Priorities
You might need to reassess the scope of your remodeling project after receiving the estimates from your contractor. Home remodeling projects don’t always follow a straight line from conception to execution. You might find it helpful to go through the budget with the contractor to see where the overages are most extensive and learn where and how you can trim the costs back.
Options to Consider
Articulating why you’re undertaking the project may help you find places in the home renovation budget to cut back. If the main reason is to increase your square footage, consider cutting back on the finishing materials. Look for ways to save money on the flooring materials along with the lighting and plumbing fixtures. It’s much easier to go back later to replace the flooring and install new fixtures than it is to make more livable space.
Design Ideas
As you and your contractor or architect go through the home remodeling budget, ask if there is a way to gain any construction advantages by changing some of the specifications. There may be design components that are increasing the construction cost beyond their value to you like raised ceiling plates. Ask the builder if changing the plan to value engineer it would reduce the cost of the project, which would put you back in line with your original budget.
Whenever you need materials that aren’t widely used in home construction, the chances of their carrying a higher cost rises. Simply changing the ceiling plate from 12 feet to 10 feet can make a big difference in the construction cost of a space. Not only are the materials less costly, labor will be as well.
Compromises Easy to Make
Even if you can’t find economies of scale in the budget or value engineering targets, you might be able to trim the whole project to reach an acceptable home renovation budget. After articulating your goals for the remodeling project, you and your team might be able to identify places to trim costs by substituting a lesser known brand.
The costs of materials in the home improvement field doesn’t always equate to their quality, just like other retail products where brand often drives price. Your project manager will know where to look for savings without compromising the scope and integrity of your project. But before deciding on a lower priced alternative, be sure you’re not compromising its function, quality, or durability.
Bottom Line
The home renovation budget is the starting point for most remodeling projects. Rather than letting it constrict you, treat it as the point where you fine-tune your goals with your Alair Homes building team. The process gives you a chance to articulate your goals and reaffirm what’s most important for you to accomplish.