Homeowners certainly know they have to budget for materials, appliances, furniture and labour when planning a home renovation project, but there can also be some hidden costs. Whatever budget you come up with, always leave some budget for unforeseen expenses.
Nobody wants to see their budget skyrocket when remodeling their home, so we’ve put together some situations and costs which should be considered before you begin. They may not seem expensive when considered individually, but if you’re faced with several of these situations then the costs can quickly add up and certainly put a dent in your wallet.
Changing your plans
If you’ve already planned your renovation and budgeted for it, you can often get off track by changing your mind about things as you go along. Once you start making changes or cancelling orders you’ll often find the costs will also go up.
Structural and building code changes
When the work begins you may be in for a few unpleasant surprises such as weak or damaged beams, walls or other structural items or rotting wood etc.. These items may need to be strengthened or repaired before work can carry on. In addition, if you have an older home you may find things aren’t up to date and don’t meet the current building codes, such as the electrical wiring.
Higher energy bills
You should expect to pay a bit more for electricity when renovating your home since contractors will likely be plugging in their power tools and other equipment on a regular basis. With outside doors being opened and closed all day long as people come and go your heating or air conditioning costs can also be affected.
Housing your family and pets
If you have pets you may find they can get in the way of a renovation project and may decide it’s a good idea to have them stay elsewhere. This could cost money if you need to board them. In fact, you may even have to move your family out of the home for a day or two during the work if the bedrooms are being remodeled. This could lead to hotel costs and don’t forget to add on the price of eating out if you aren’t able to cook while the kitchen is being upgraded. Remember, most babysitters and petsitters don’t work for free.
You may have to meet with your contractor several times during the renovation project and this means you need to leave work for an hour or two at a time. Depending on your type of employment, you may need to make these hours up or lose money while absent from work.
Clean up costs
Once the work gets underway you’ll likely be faced with some extra garbage to get rid of. In some cases you may need to rent a dumpster and/or pay to take certain items to the local dump. Also, your home may need a thorough industrial-strength cleaning and this could lead to added costs to have your carpets steamed etc.
Depending on the scale of the renovation, you might have a little landscaping to do after the job has been completed. It’s not uncommon to see your grass, shrubbery, plants and flowers suffer during the work. Some of these may need to be replaced when all is said and done.
York Construction Company
York Construction is a Toronto based home renovation contractor that has been serving the GTA for over 50 years. We offer a free in-home design consultation. Contact us today to schedule an appointment.