How to Minimize the Impact of the Hidden Costs of Remodeling
No matter how carefully you plan your remodel, hidden costs are almost sure to put your project over budget. Get tips on how to minimize the impact of the unexpected in this HGTV Remodels video:
Plan at least 10-15% more than your estimate to be prepared for the
unexpected, such as illegal or improper wiring, plumbing leaks, pipes in the way, lack of insulation, asbestos, or lead paint.
Hidden costs can be exacerbated by the age of your home. If the damage is bad or if the original workmanship in your home is of poor quality, you may actually find it cheaper to tear things out and start from scratch.
Change orders and upgrades are a common cause of budget-busters. Think twice about changing your design or adding or replacing things in the middle of your project.
The addition or removal of windows and doors can impact the framing for an entire wall. Wiring and ductwork may have to be moved as well. This type of reworking will add to the cost of your project.
Fluctuating materials costs and unexpected breakage can also lead to budget overruns.
Hire a contractor that takes the time and has the skills and expertise to anticipate hidden costs. Identify trouble spots and determine responsibility (for example,
who will move and store furniture or repair damage to your landscaping).