Hidden Costs of Home Remodeling Projects

Home renovation projects are valuable investments that will definitely raise your home’s value, energy efficiency, curb appeal and appearance. When you’re undergoing home additions or full-home remodeling projects, it goes without saying that you’ll need to have a budget ready to tackle the project. Otherwise, you may spend more than you intended.

However, even with a substantial budget on-hand, some homeowners are still caught off-guard by the expenditures. Some of them might not even be reflected on the original quotation. Don’t take your frustrations out on your contractors since they aren’t “hiding” anything from you. Rather, these are a consequence of issues that have shown themselves later on in the project. As such, it’s important to have an emergency buffer for your remodeling project. A good rule of thumb is to have around a buffer of 20% of the project’s total cost.

Today, we discuss some of the hidden costs of home remodeling projects.

Water Damage

If you have an old house, there’s a slight chance that you might have damaged plumbing due to the years of service your pipes have done. However, water damage can be difficult to spot until the problem has already worsened. In fact, it’s often spotted when you begin to tear down your walls, prompting your home remodeling contractor to fix it first before proceeding any further, increasing your project costs. To check to see if you have water damage, try to review your water bill regularly to see if there is a sudden surge that could point to water leaks.

Mold and Mildew Growth

Moving on from our previous point, according to home contractors, mold growth often follows. We strongly recommend having regular home inspections done to prevent or reduce mold growth. In turn, we can spot signs of mold growth and remove it before the spores spread too far before the renovation begins. This helps you remove issues that will worsen down the line.

Demolition Costs

You might have a budget ready for all your new fixtures, materials and labor fees. However, there is one hidden labor cost that people tend to forget, and that is the demolition costs. It costs a substantial amount of money to properly remove materials to a landfill. Make sure that you have a budget allocated for the demolition, unless you plan to DIY it, which isn’t recommended. Even if you do so, you’ll need to pay for a dumpster or additional disposal fees.

Incorrect Contractor Estimates

This one falls on your contractor. Some beginner designer construction contractors give incorrect estimates while others tend to underestimate or overstate it. Make sure that you secure at least three estimates from different contractors, along with detailed outlines of costs. Remember, don’t just hire the cheapest contractor, but hire the contractor that gets you the most value for your money. After all, you might end up paying more for the items they left out.

Termite Damage

Termite damage is actually a serious problem across the country. It’s estimated that termites alone cost around $5 billion worth of damage and repairs. It’s also common to discover signs of termite damage in your home’s structure, especially if you live in a termite country. These wood-devouring insects can move through your home’s foundation, eating out building materials that are made of cellulose. To put this into perspective, they can eat wood, paper and even some insulation materials. It’s important to check for termite infestation and call an extermination company for assistance if you’ve spotted signs of termites.

Dining Out

When your construction contractor starts the work, it’ll take a few weeks before your kitchen can be used again. As such, you’ll have no alternative gas or power line for your appliances. This is why you might find yourself eating out a lot during the duration of the project. You can ask your remodeler to set up a temporary kitchen to avoid this situation. But if this isn’t possible, you can opt for easy-to-prepare meals or quick take-out meals.

Moving Out or Moving In

You might have to temporarily vacate your house depending on the magnitude of the remodeling project. It’s good if you have relatives or friends nearby that you can stay with throughout the process. Otherwise, it would be expensive to relocate temporarily. If your entire home isn’t being remodeled, you can use the unaffected portions of your home as a resting area. Remember that it’s not only your stuff that’s going to be moved as your overall comfort will be affected as well. You might not be able to use your HVAC unit, which is why it’s better to stay at a hotel or at a relative’s place for a night or two.

Permit Fees

Before the remodeling project begins, discuss with your remodeling contractor what kind of remodeling permits you need. Fortunately, most remodeling contractors will take care of the permits once everything starts. However, you want to make sure that they do. Otherwise, you may be in for an unwelcome surprise. Other homeowners have paid upwards of $1,000 for permit fees since their contractor didn’t include it in the quote. This is why it’s important to work with a certified and licensed contractor to ensure that you get your money’s worth.

Lawn Landscaping

You might need to do some landscaping once the project is done if your contractor laid down their equipment on your grass. Before the project starts, ask your contractor if they plan to use your yard as a staging area, and place down tarpaulins to protect the area. Otherwise, use other areas, such as the garage or gravel driveway, to store equipment.

To ensure success for your home remodeling projects, make sure that you voice your concerns and goals clearly to your remodeling contractor. Then, meet once a week with your remodeler to bring up any hidden costs as they appear.

Trust in Cottage Industries for your future home remodeling projects. Our team of remodeling professionals is here to guide you through our proven process. It’s our mission to provide you with impeccable customer service and quality craftsmanship, day-in and day-out. Count on us for your home additions and whole-house renovations as well. Call us today at (610) 293-9750, or fill out our contact form to schedule a conversation!