Ninety-three percent of homeowners felt they had a better quality of life after finishing their renovations. Creating a home that fits your style and needs can be a great feeling.
There’s a lot to think about, like choosing colors, materials, and hiring workers. But it’s also important to think about the hidden costs.
By knowing about these costs ahead of time, you can make sure your home renovation goes smoothly. Let’s look at some of these hidden costs, so you can plan better, and finish your renovation with no surprises.
Table of Contents
1. Permit and Inspection Fees
Often underestimated or forgotten, the cost of permits and inspections can add up. Depending on the scope of your home remodel and local regulations, securing permits can be expensive.
Some projects may require multiple permits, each with a price tag. Plus, passing an inspection is crucial. If you don’t, it results in having to redo work, leading to even more expenses.
2. Utility Upgrades
Home upgrades, especially those involving major structural changes, may require you to upgrade your home’s utilities. This could mean anything from adding more outlets to your electrical panel to upgrading your plumbing system.
These improvements can be some of the most expensive parts of a renovation. This can add up quickly, especially if you’re doing multiple projects at once.
3. Structural Surprises
When you demolish walls or have the floors ripped up, hidden problems often come to light. This could include rot, mold, or outdated wiring that is not up to code.
Addressing these issues can lead to unexpected expenses, which can throw your budget off balance.
The good news is that you can avoid some of these surprises by having a professional inspection done before you start your renovation. This will help you identify any problems and give you an idea of how much it will cost to fix them.
4. Accommodations and Storage
If you’re renovating your home, you may need to find temporary accommodations while the work is being done. This can be expensive and time-consuming, especially if you have pets or children.
You may also need to rent storage space for your belongings while they’re not in use. This can be a significant expense, especially if you’re storing furniture or other large items. If you’re planning to renovate your home, it’s important to factor in these costs when creating your budget.
5. Post-Construction Cleaning
Home renovators rarely think of post construction house cleaning as an expense. However, it can be a significant one. After all, you don’t want to move into a freshly renovated home only to find that it’s messy and dusty.
If you’re planning on doing the work yourself, this is something you should factor into your budget. If not, ask your contractor or cleaning service how much it will cost to do it for you.
Home Renovation: Avoid Being Blindsided by These Sneaky Costs
A home renovation is an extensive project, and it’s easy to get caught up in the excitement of it all. By taking the time to research these expenses and plan for them ahead of time, you can avoid being blindsided by them later on.
For more home improvement tips and tricks, check out the latest articles on our blog!
