According to Mark Roemer Oakland, when you’re planning a home renovation, considering the cost of renovations is very important. Home renovation projects differ quite a lot. Two home renovation projects in the same home can be very different and hence have different costs. Let’s check out how you can estimate the cost of a renovation.
1. Determine your goals – While creating a cost estimate, determine your goals and the purpose of the renovation project. Come up with a list of areas that would benefit from remodeling and the changes you want to make. For instance, you may want to renovate your kitchen cabinets, paint the walls, build a guest bedroom, or do something else. Either way, it’s important that the purpose of the renovation is clear to you.
This allows you to set realistic and achievable goals. While listing the goals, list down the brands you want to use for your project. This would come in handy when estimating the cost of the materials for the project. Drive around to different stores and look around at different websites. Leverage the power of window shopping to compare prices and decide on budget-friendly options.
2. Analyze the cost of remodeling – The cost of remodeling your home depends on several factors. From the contractors you choose and the materials you buy to the size of your home and the length of the project time. The scale of the project and the location of your home also matter since they are directly correlated to labor costs. While analyzing these factors make sure not to assume the cost while comparing it to a similar renovation project done by your friend or a neighbor.
3. Check your budget – You may plan out a grand and luxurious renovation for your home. However, the estimated cost of such a project would be irrelevant if it can’t be supported by your own budget. You can’t spend what you don’t have and that’s why you need to decide on the sum of money you can afford to spend on this project. With a set budget, your choices would automatically start to align with the best possible options while you’re hiring a contractor, buying materials, or deciding or prioritizing your renovation needs.
4. Ask for bids from different contractors – After you’ve decided to DIY the things that match your skills, you need to outsource the rest of the renovation project to a reputable contractor. Make sure to invite bids from multiple contractors. This will give you a more accurate estimate of the renovation cost. Don’t go with the cheapest bidder right away. Interview them thoroughly, ask for references, and ask for cost breakup, insurance, and other important documentation.
Mark Roemer Oakland suggests that you use the above-mentioned tips to estimate the cost of a renovation. Figure out your needs and goals and make sure to not go overboard with your budget. While home renovations serve practical purposes, they are also an investment that needs to be made back when you sell your home.