Whether you are planning on a DIY project or hiring a remodeling a company, knowing and understanding your project needs is important.
Most project budgets can be broken down into about four categories; project prep, labor, materials, and allowance items.
Remodeling Project Prep
Is preparing for the project. Scheduling all work to be done, as well as making sure you have the proper plans and materials ready. Scheduling is the key to getting the job done efficiently and within budget. Next is preparing the home for the remodel, floor protection, dust protection, obtaining the permit, and having disposal set on site. However, for most DIY jobs project preparation can be underestimated. I have heard home owners say they will put their construction debris in their garbage, and that they don’t need a permit, I am the home owner. This is not always the case and is best to check with your city before beginning any construction project.
Labor For Your Project
Labor budget is the cost to complete work. Most projects require demo labor, carpentry labor, along with additional subcontractor cost. Such as electrical, plumbing, and HVAC. Labor is usually the most expensive budgetary item for any project. Labor cost will be directly related to the scope of work. If the scope of work increases, typically the labor cost will increase as well.
Materials are needed for all projects and usually directly related to labor. This can be lumber, drywall, nails, and etc.
Allowance items are your selections that you would get to select for remodel. Like, doors, windows, plumbing and lighting fixtures, tile, cabinetry, countertops, and appliances. Allowance items are typically items that you would work with an interior designer to help select. Allowance items typically are about 25% of the total remodeling cost.
It is common for new remodeling clients to make mistakes in the beginning of working together, is the ability to control their remodeling cost with allowance items. With set allowances, and having a budget, all remodeling items should not have a major impact on the budget.
Spring is just around the corner and home remodeling is going full swing. If you are thinking about completing a remodel for your home, winter is the time to start planning to be ready for spring, and spring to summer and so forth. So, don’t forget to budget time as well!