Home remodeling can cost anywhere from several thousand dollars to several hundred thousand dollars. It all depends on what a homeowner wants to accomplish and how much money they are willing to spend. In general, however, most home remodel costs don’t recover 100% of the cost to put into the job. This is where it can become a very expensive endeavor for homeowners. But there are ways that you can greatly reduce your home remodel costs.
Start by examining the expenses that you currently or might already have for a home remodel. These could include: home improvement grants, home improvement loans, real estate fees, landscaping supplies, plumbing companies or contractors, roofing materials, cabinets and flooring, painting, electrical work and cabinets, flooring, kitchen remodel or bathroom remodel. Any of these costs can double or triple your home remodel costs. So if you have any of these expenses then you can either get rid of them or make other plans to cover them. You should also take into account any possible home remodeling projects that you may already have underway such as: basement remodeling, kitchen remodeling, bathroom remodeling, etc.
Another way to significantly reduce your home remodel costs is to work out a budget first. A budget will help you map out how much money you have to spend on the various projects. You will then know what kind of margins or savings you can get by working with certain vendors, contractors or subcontractors. You can then use these numbers to figure out which projects you can undertake on your own or get someone else to undertake. A budget will also help you to set spending limits and give you some room for error.
One project that can significantly increase your home remodel costs is a basement remodel. Basements are becoming more popular these days as people want more living space without the expense of a main level addition. This is especially true of older homes with little existing space. The best approach is to have a professional estimator come out and do a free estimate on your basement. This should be done not only to help you estimate costs but also to help you determine how much square footage you can add or subtract to your basement.
There are many other ways you can reduce your remodel costs, some of these include: hiring an electrician, not hiring any contractors or subcontractors, using material and electrical samples and checking all major utilities. You should also consider the type of labor involved and how long it takes them to complete the project. For instance, if you are going to hire an electrician then it is likely going to take them a minimum of two hours to complete the job depending on what the job scope is. If you decide to use a contractor then it could take them as long as four hours. This can definitely add up, so you need to factor this into the overall costs of your project.
One of the biggest factors in overall home remodel costs is the complexity of the task itself. This is especially true if you are going to be adding in certain rooms such as a kitchen or bathroom. If your plan is to do a simple renovation of a kitchen or bathroom then it may not add up to a lot so you may not need to pay a lot for certain appliances or fixtures such as new flooring. In order to make sure that everything adds up it is important to contact a contractor who has experience with some of the larger projects that you are planning on doing so they can give you an accurate figure of how much to expect for your total project. A general rule of thumb is to assume you will spend approximately twice as much on your kitchen or bathroom renovation compared to your house itself. This may not always be the case but a general rule of thumb is good to go by.
The cost of materials can vary widely depending on what type of materials you choose to use. It is common to find that the cost of certain types of materials such as wood, ceramic tiles or even linoleum can increase dramatically depending on the quality of the product itself. You also need to factor in the cost of labor, as this will need to include any professionals that will be required for the installation of your new fixtures. These can range from a carpenter to a plumber depending on the size of the bathroom remodel cost you are planning on spending.
The other biggest factor of all when considering overall remodeling costs is the price of materials and supplies. This will include anything from new cabinetry and countertops to new appliances and fixtures. To keep this from being a major expense it is best to begin looking at bathroom remodel plans at a relatively early stage. This will give you plenty of time to make changes and find the best possible price before the actual process begins.