Don’t Overlook These Costs in Your Remodeling Budget | Billy.com

When you’ve made the decision to invest in a home renovation project, your work has just begun. Your next step is careful planning, which begins with setting a budget. But as you seek quotes from contractors and prices on materials, don’t overlook these costs in your remodeling budget. Including budget lines for these often forgotten items will help you complete your project within your means.

Permits

Investigate your local permit requirements for the type of project you’re planning. Depending on the size of your project and where you live, permits can run from a few hundred to several thousand dollars.

Contingencies

In construction contracts, contingencies mean unanticipated expenses. Include extra money in your budget to account for potential price increases on materials or added costs for changes required by municipal inspections. Especially in older homes, surprises can happen when you open walls and replace flooring.

You may find plumbing or electrical systems that aren’t up to code, insect or water damage that must be repaired, or mistakes made in past projects, such as joists that have been cut. Each of these issues must be corrected. All this costs extra, so be sure to plan for these possibilities upfront.

Demolition Debris and Construction Waste

When you knock down walls and tear out cabinets, you must dispose of the debris appropriately. That means renting a dumpster from a reputable company that will deliver the dumpster empty and haul it away when it’s full. Get a detailed quote for dumpster rental services and gain a full understanding of what you can and cannot dispose of in the dumpster.

Moving or Eating Out

Your household budget can go a bit haywire during renovations. Your kitchen may be unusable, or the noise and dust may require you to stay in a hotel or short-term rental for a while. Don’t overlook these costs in your remodeling budget.

When your project is finished, and your kitchen, bath, or home addition looks spectacular, you’ll feel even better knowing you completed the whole thing within your budget.