home tips Live in MT Team March 14, 2021
(Family Features) Every homeowner has a defined budget he or she can allocate toward a remodeling project. Even if funds were unlimited, it’s still in a homeowner’s best interest to secure the best value for each dollar invested in a remodeling project, ultimately increasing the value of the home.
Consider these tips from the experts at the National Association for the Remodeling Industry to help save money on your next project.
Create a wish list of everything you want to accomplish. Disregard cost and simply write down everything you can dream of. Prioritize items from “must haves” to “nice but not necessary.” Find a contractor who will work with you to determine whether your wish list is attainable for the funds you are willing to invest in your home.
If you can’t get far enough down the list with the available money, you could choose to stop the process and continue saving, investigate financing options, re-evaluate your wish list or consider material substitutions.
Every project will have a set of required materials, but there are options when it comes to variety, style and quality.
It’s critical to ensure every detail of labor and material is specified in the agreement with the remodeler. If it’s not included in the written agreement, it’s likely not included in the work scope. Ask your remodeler what labor and materials are not included and determine what additional expenses you’ll likely incur to complete the project.
Talk to your contractor about tasks or materials you can provide that would reduce the project cost without affecting its schedule. This might include jobsite clean-up or obtaining certain materials the contractor would otherwise spend considerable time securing.
Ask for a potential timeframe for completing the project, as well as any factors that could affect the schedule so you can anticipate costs such as eating out more often while the kitchen is being renovated or renting living or storage space.
Because of the unique stresses induced by remodeling projects, it’s a good idea to determine before you begin how disputes will be resolved, such as adding an arbitration clause to the agreement that eliminates expensive legal representation. A few deep breaths and a solution-minded approach can also save more than money if conflict arises.
Find more money-saving advice for your next remodeling project at remodelingdoneright.com.
Photo courtesy of Getty Images
Source:
National Association for the Remodeling Industry
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