Home Renovation Cost

Are you looking to restore or renovate your home? Calculating the exact cost of the restoration can be difficult. There are many things you must take into account while preparing your budget. It is always a good idea to keep some money aside for miscellaneous expenses. Hidden costs refer to the expenses you might have overlooked while preparing your renovation budget. Therefore, it is a good idea to develop a checklist of expenses before you begin.

Hidden cost in renovating your Home

1. Structural Renovation

Structural repair costs could run to a substantial amount if it includes repairing structural issues as well as the design of your home. These could include changing the flooring, modifying the ceilings, combining or making additional rooms, painting, leakage repair, adding doors and windows, etc. For example, while renovating your kitchen, you come across bugs in your kitchen cupboard. You may have to replace the entire unit to prevent further damage. This was not a part of your actual renovation plan. Costs like these can bloat your budget.

2. Housing Society

If you live in an apartment, you will have to inform the housing society in advance and take its permission to carry out the renovation work. While granting the permission, the housing society will ask you to deposit some advance money as security, depending on the time period. This money, which may run in thousands, is refundable, provided no damages have been caused to the society during the renovation process in any manner.

3. Junk Disposal

It might not be possible to save stuff that is still in working condition during the renovation process. The expensive wood that was part of the cabinet and doors would also turn into waste material. In case the stuff is all waste, you may have to pay up from your own pocket to get the stuff disposed.

4. Material Delivery

While making the budget, you may have included the cost of materials after doing a research. What you may not have included in the list is the money you will have to spend to get the construction materials delivered to your place. Even if you order the materials from markets close-by, each delivery will cost you at least a thousand bucks.  

5. Cleaning Costs

People often fail to consider the cost of debris removal after construction. Renovating a building can be a dusty task. After the reconstruction is through, the next chore is to clean the house thoroughly. But to clean the house after a hard day at work can be a burdensome task for even the most enthusiastic homeowner. To avoid this chore, you may want to recruit hired help to clean the rooms. Labour is not cheap; it will add to the cost.

6. Food Bills

In case you are living in the house while the renovation process in on, the house would be in too much of a mess to do the cooking, especially if your kitchen needs repair. Even if you create a make-shift arrangement in the meantime, cooking all the three meals in the house would be almost impossible. While the kitchen is being fixed, there would also be no provision to clean up the dirty dishes either. In such a situation, eating-out or ordering-in would become mandatory. This will increase the money you spend on your kitchen needs every month.

7. Electricals

You may want to make some electrical changes during a renovation. This could be as simple as adding switches, plugs, or lights. While factoring in these expenses, you must take into account the electrician’s fees as well. Let’s assume you plan to hang a chandelier in your living room and have selected one based on your budget and the room aesthetics. However, you will also need to account for the electrician’s fees and installation costs. This would include items such as wires and bulbs.

Guide to your Home Renovation

Budget

It is very important for you to consider the amount you will be spending for the renovation process. Plan a sketch of your complete budget in advance. Also make sure to keep expenses for emergencies in case. It is also essential that you write down the cost of each and every essential to get a clear idea of your budget. Include the service cost as well.

Seek Professional help

It is advisable to seek professional help while renovating a home. Hiring an architect or an engineer to plan on how to renovate your home and asking for designs is the best option. Also, this will give you an idea about the inexpensive and efficient ways to renovate your home. You will also have an idea about the expenses and the type of materials to be used. You can also research and get calculations and estimates.

Self-Effort

If you have decided to spend less money on your home renovation, it is advisable that you do it yourself by just seeking the advice of an architect or an interior designer. This will help you to decide on the budget to be spent. Make sure you do not do renovations related to electrical work, plumbing and construction purposes.

Always take Itemized Estimate

 Never take approximate rates from the contractor, always ask for itemized estimate so that you get idea of what you are spending for a particular room and if in future you need to do some cost cutting it might become easy too, as you would exactly know where to cut cost, and the savings you do by it.

Let’s say, you hired a contractor and show him some pictures or share your ideas with him, after finishing the conversation you ask him for estimate of renovating your house and he gives you a round figure estimate for the work.

Interiors

Your interiors can include items from a fleece market or personalised ones. Try and place things which depict your personality and the ambiance. If you’re low on budget, then try and decorate just one room rather than every room. Avoid cluttering your room with unnecessary interiors. You can also go in for used interior decorations or embellishments which can be bought at a cheaper rate. And if you’re good at needlework and sewing, you can create your own personalised curtains, fabrics and upholstery.

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