Monday, December 2, 2013
If you want your home to grow with you and your family, as your design preferences mature and change, as you welcome a new baby or an in-law into your home, or as you grow old and gray, you are bound to have a home renovation at one time or the other.
You can renovate your home for a design update, to add more rooms or to repurpose rooms to suit your changing needs. Whatever the reason for it though, a home renovation can become expensive and heavy on the pockets. Here are some tips to save money on your home renovation.
Choose a capable contractor
A knowledgeable and trustworthy contractor will be able to get things done with considerably less mistakes and wasted time. Ask for referrals from your friends and relatives, and be sure to ask relevant questions about project delays and cost overruns.
If the contractor has done work on their homes, you might even get a chance to see the workmanship and quality of their output.
When you meet with potential contractors, ask for a cost estimate, tentative timeframe and a portfolio of their past works.
Research on the prices of materials
When the agreement with a contractor is for materials and labor, the contractor’s pricing usually includes markups on both material and labor fees. Before you commit to a contractor, do some research of your own and canvass the prices of materials. Compare your findings with the contractor’s cost estimate to see if you’re getting a good deal.
You may also opt to just buy the materials yourself and leave the labor to the contractor. This may be tedious work but can also pay off if done meticulously. Just be sure to inform your contractor of this arrangement to avoid any misunderstandings.
Stick to your budget
Once you have chosen a contractor, decide on a budget based on the cost estimates. Inform your contractor of the budget to see if he can work with it. Be sure that you and your contractor are committed to the budget.
Avoid last-minute changes and extra additions to the project, because these will most likely blow up your costs. - Aislinn Kee