Think you know down to the penny what your renovation project will cost? Not so fast. You could have the ability to recite the purchase price of materials and also the budget for labour on your sleeping, but you’re bound to get triggered by odds, ends and extras — known in the trade as gentle prices — which you never envisioned shelling out for. That’s why it’s always a good idea to budget 20 to 30% of your remodeling estimate so you’re covered no matter what happens.
Here is only a sampling of the surprises you may encounter. What prices have caught you off guard? Let us know in the Comments section below.
Sarah Susanka
Higher property taxation. Major additions or updates, particularly in spaces such as kitchens and bathrooms, can boost your home’s appraised value, and that can expand your tax invoice. Assessors typically get copies of building permit applications, so they’ll know about your job and might find out that it warrants upgrading your home’s value.
Hidden horrors. If demolition shows a colony of creepy crawlies lurking underneath your drywall, you’ll have to call from the pest management folks to evict them before work can proceed. Insects and vermin are only one disagreeable surprise you might find — you never truly know what is happening behind the walls until a tear-out. Get ready for the chance of mold, faulty wiring or plumbing, asbestos and other pricey pitfalls.
Colleen Brett
Offsite storage. You’ll need to stash your stuff someplace while work is in progress. If you do not have an attic, a basement or a willing friend with a large spare room, you might need to lease an offsite storage unit for the length. Depending on size and other factors, these units can cost anywhere from $20 to a few hundred bucks a month.
Building code quirks. Codes vary depending on where you live, but you might well face a listing of requirements that have to be fulfilled in order for your permit to go through, particularly in an older home. By way of example, in getting estimates for a planned bathroom remodel, my spouse and I discovered that we’d need a couple new smoke detectors hardwired into the key electric system, to the tune of several hundred bucks.
Utility bills. Whose power powers those table saws, nail guns, paint sprayers and floor sanders? That’s correct — yours. In addition, heavy traffic in and out of the house could pad your heating and heating bills, particularly in cold or hot weather.
Studio Zerbey Architecture + Design
Eating out. Does your job include a kitchen remodel? You will not be whipping up dishes at your brand-new stove for a while, and you’ll be able to spend a small fortune on restaurant foods and takeout in the meantime. Even ready or microwaveable foods at the supermarket cost considerably greater than cooking from scratch.
8 Steps to Surviving a Kitchen Remodel
Pet dressing table. Got a hyperactive border collie or a cat who is freaked out by strange noises? You might wish to send her or him into a kennel through the most intensive period of building, particularly if you don’t have a fenced yard or other area where they is able to safely remain out of the way. Get ready to pay anywhere from $12 to $100 per day for the privilege.
Dumpsters and mobile toilets. Don’t be shocked to see these things in your builder’s estimate. They help the team keep a clean job site and cause as little disruption to your home as you can.
More:
8 Ways to Stick to Your Budget
Grow With Intention: 12 Remodeling Sanity Savers
Kitchen Remodel Prices: 3 Budgets, 3 Kitchens