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Why One or Two Hours of Renovation Planning Could Save You Thousands

May 20, 2014

Renovation Planning Could Save You Thousands Dilamco

A lot of people begin a renovation the wrong way. Instead of planning the project thoroughly before they begin, they seem to take a play-it-by ear approach. Some architects are not much better as they routinely make changes mid-voyage. Many designers will come up with more improvement ideas as the project take shape. Both practices can result in major cost overruns and delays. Discussing and planning a timeframe with your general contractor beforehand is the best way to guard against unforeseen expenditures.

Budget for the unexpected

Rarely does a renovation project fall within projected costs. A lot of things can happen between the time the first nail is driven and the project’s completion. Water pipes can burst and gas lines can spring a leak. Additions can be made “while we’re at it”. Also, the price of materials can go up mid-project, or a material of better quality than the one that was specified on the quote can be chosen. When things like this happen, they can adversely affect the price of the project. So, before beginning make sure you set aside enough funds that will take into account these unexpected occurrences so that the project can be completed on time.

Labor costs can fluctuate

When you approach a home contractor about submitting a bid for a home renovation, his primary concern at the time is to make sure you will get the most for every penny spent. Therefore, you shouldn’t be too surprised if the initial bid is lower that the final cost of the project.

Sometimes this could be attributed to the general contractor not sizing up the complexity of the job, or deliberately submitting a low bid in order to secure the contract. In case of the former, the project may turn out to be more difficult than the contractor first realized and his crew may have to put in extra man-hours to complete the project on time. In such cases, the extra costs will naturally be passed on to you, the homeowner. On top of it, you never know what you will find when tearing walls down. Sometimes, additional costs need to be incurred in order to meet construction code requirements that were not necessarily enforced when the dwelling you’re renovating was initially built.

Costs overruns are almost impossible to avoid in any large renovation project; however, you can minimize those costs by thoroughly planning how much you want to spend on the project beforehand, and what all the project should entail. In addition, you make the general contractor aware of your expectations and budgetary limitations so that he is aware of your plans and has an idea of your flexibility.

A little pre-project planning can actually save you money on your home renovation project. You can find more helpful tips and information about home renovations by contacting your local Montreal general contractor.

 

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