One of the biggest concerns homeowners have about undertaking a home renovation is how to keep control of the budget. Everyone has heard horror stories about renovation costs that spiral out of control. Fortunately, we do fixed-cost contracts here at Peak Improvement, so you can avoid surprises at the end of your Edmonton home renovation. Still, it’s important to understand the things that will impact your budget when you’re planning. Here is a look at some of those variables so that you can set a realistic budget for what you want to accomplish.
High-end Finishes
The finishes you choose for your renovation can affect the final cost of your project. It’s easy to look at images on websites such as Houzz.com and fall in love with the look of a particular treatment—whether it’s flooring, countertops, cabinetry, or faucets. Do a little preliminary “shopping” ahead of time so that you’re aware of the costs before you start making your choices. If the upgrade truly delivers the value that you want (that is, if it significantly improves convenience, or lasts longer, or enhances the appearance of your project), then it may be the right move.
Unusual Materials
Unique or unusual materials can increase the cost of your renovation project. Rare wood types, for instance, are harder to come by and cost more. That doesn't mean you shouldn't use them if you really want to. Just make sure you take their expense into account before you plan on using them.
Non-traditional Configurations
If you ask your renovation professional to create something that’s unusual (say counters in your kitchen that have lots of angles and extra built-in features) that construction is going to cost you more. Once again, that doesn’t mean you can’t do it or shouldn’t do it, but it will increase costs. You need to budget for that up front.
Placement of Items Requiring Plumbing/Electrical
There are times when moving certain elements in a room seems like a good idea. Perhaps you’ve thought: “If we could just move the kitchen sink over 3 feet, it would be so much more convenient. And while 3 feet doesn’t seem like a big move, it could still cost you a lot if the plumbing has to be moved as well. There are also times when rewiring outlets and appliances can be costly. The same is true with moving walls. Sometimes it’s not a big deal and sometimes (with load-bearing walls) it can be expensive (or even impossible).
Changes to the Plan
One of the most common causes for over-spending the budget comes from changes to the original plan. This is particularly true if you’re well into the project and your renovation company has to undo work they’ve already done. This is another benefit of working with a design-build renovation company. Your renovation team will walk you through the design in detail and go through planning and investigation of potential trouble before you sign the contract.
Living Expenses
Depending on the extent of your renovation (such as for a whole-home renovation), you may opt to move out for a period of time to eliminate a bit of stress. You’ll want to plan ahead so that you can budget for temporary housing (hotel/motel) and meals.
So, what should you expect to pay for renovation in the Edmonton area? The answer, of course, depends on the scope and nature of the project. If you’re looking for a kind of baseline for costs here are some posts for different projects for your Edmonton home.
If you want to redo your whole home, here’s a post that looks at the cost of a whole house renovation in Edmonton. If you’re considering a bathroom renovation, here’s a look at what that typically costs in the Edmonton area. And if you’re thinking about re-doing your kitchen here's information about the cost of a kitchen renovation in Edmonton.
Looking for more tips on how to keep your costs under control? Here’s help for ways to save on home renovation costs.
