Rarely home improvements finish under budget. The best-case scenario is always to spend the amount of money quoted to you prior to construction. If things don’t go as planned, you might face bigger expenses than initially anticipated.
Expending more dollars than you’re prepared to lose is a fast way to get stressed out during a roofing or siding project. To keep your home improvement on budget, Thompson Roofing and Construction shares expert tips:
Identify Cost Drivers
First of all, understand the factors that would affect the overall cost of your project. Materials, labor and permits usually account for most of the remodeling budget.
In many occasions, though, home improvements are an investment that can save you money down the road. You might be able to recover your expenditure by lowering your energy costs and increasing your home’s value. Whether you plan to stay in your home for the long haul or not, weigh your initial expenses against long-term financial rewards.
Eliminate Estimate Uncertainties
Like in new construction projects, reading the estimate right is key to the success of remodeling jobs. Although something might be added to the bottom line of the project later on, make sure the ballpark figure your estimate shows is as accurate as possible. You can do this by leaving no room for allowances and finalizing the details of your project right from the start. With actual prices of the products and materials you want, your contractor can give you a realistic preview of your would-be expenditures.
Don’t Change Your Mind
Modifying the original plan is important to address your home’s pre-existing conditions so your project can move forward. It’s a different story, though, when you alter the original plan just because you have new ideas. Change orders would affect your remodeling budget, and you should avoid doing them until they’re absolutely necessary.
Have a Buffer
Whether you need to deal with unexpected structural issues or include essential additions like replacement gutters to the job, make sure you have sufficient funds. If your budget can cover extra expenses equivalent to one-fifth of the project’s total cost, you should be in good shape. If you’re running low on money, think beyond cash, and seek financing to cover additional charges.
Budgeting is one of the hardest aspects of tackling home improvements. Turn to Thompson Roofing and Construction to cover all the bases, and plan your remodeling project properly. Call us at (256) 251-5566 now to discuss your needs, and get a free estimate in Huntsville, AL, or nearby communities.