Three common mistakes homeowners make that add unexpected costs to renovations
Home remodel costs increased by nearly 15% across the board in 2021, and this is only expected to increase this year – especially when you consider the consumer price index (CPI) increased 6.2 percent from the previous year, a spike not seen since 1990, according to the U.S. Department of Labor.
We believe the best clients are educated clients, and we hate to see homeowners surprised by additional costs on their home renovation projects. Here are three common mistakes that add unexpected costs to renovations and remodels:
Change of scope: Projects are priced based on certain specifications and the scope of work agreed upon when the contract is signed. Naturally, when the scope or specifications are changed, it impacts the project costs.
Not understanding true cost of a task: In some instances, a homeowner will outline a specification in the scope that they think is less work, but it actually creates more work, such as saving an old door or removing a window and relocating it for reuse instead of installing a new door or window. On paper you may be saving the cost of the new window but in practicality the construction crew’s labor cost will generally exceed any cost saving. In the example of the window, they would need to carefully remove the old window, clean, and meticulously reinstall it. Then they need to take the time to make sure it functions properly, and finally, fix any aesthetic blemishes – all of these things are labor intensive and add to cost.
Delay in fixture/ appliance selection: Another common mistake is not having all the fixtures/appliances selected at the start of the project. This not only slows down the project because of lead-times to order and receive the items, but it can also affect the rough in work because often fixtures/appliances have a specific rough in specification. This can lead to additional costs later in the project if things have to be reworked to accommodate the exact specifications that were not known at the time of rough installation.
Keep an eye out for more home construction and renovation tips!
By Matt Sullivan|2022-05-23T21:58:09+00:00May 23rd, 2022|Insights|Comments Off on Three common mistakes homeowners make that add unexpected costs to renovations