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What Are the Hidden Costs to Watch for in Remodeling?

Even when financing and budgets aren’t a concern for the homeowner, identifying and sticking to a budget is important, as it helps keep construction organized and on schedule. Some costs are harder to plan for, and we can help you watch out for these hidden expenses during a remodel.

Some of the top hidden costs to watch for when remodeling your home include updating mechanical systems, making structural changes, securing temporary housing during the renovation, and facing unexpected supply chain shortages. Careful planning and making budget allowances for unanticipated costs helps keep the residential construction projects we plan on track.

To plan your remodel, call Phase One’s Lexington, SC construction consultants and architectural designers today at 803-404-7168.

What Are the Hidden Costs of Remodeling Your Home?

It’s worth planning for the hidden costs of a full home remodel, regardless of whether financing is a concern or not. Planning keeps projects on schedule and progressing smoothly, and part of planning is setting the budget.

Electrical, Plumbing, and HVAC System Updates

Remodeling a home usually means updating or moving electrical, plumbing, and even HVAC systems. Older systems may be more expensive to run, less energy-efficient, and less effective overall. Moving mechanical systems can be a lot of work in and of themselves, and we can suggest improvements to make them more energy-efficient or more convenient placements when planning your full home renovation.

Addressing Structural Damage and Making Structural Changes

Planning a remodel sometimes means uncovering structural damage and challenges, which we can address in the design phase. We can estimate how much structural changes or improvements may cost, especially if you want to remove any load-bearing walls or other parts of the home’s structural integrity. The cost of not addressing structural damages or making poor structural changes is almost always more.

Obtaining Permits

The cost of permits is often viewed as an afterthought, but, because you will need so many permits to move forward with a full home remodel, it’s a good idea to factor permit fees into your total target budget. That way, you’re not surprised when your contractor spends a considerable sum obtaining permits.

Supply Chain Shortages

Most homeowners don’t enter a residential renovation project expecting supply chain shortages to increase costs, but this can happen, especially when construction begins during the most popular season for building, fall. While you can’t necessarily plan for supply chain shortages that affect your spending, you can intentionally allocate some of the budget for unavoidable problems.

Temporary Housing During Remodel

While your contractor is carrying out Phase One’s plans for your remodel, you may need to find temporary housing elsewhere. Viewing this as part of the remodel’s cost helps you mentally and financially prepare for how much you end up spending during that time.

Soil Conditions

Poor conditions revealed by soil testing during the beginning stages of planning and design help avoid excessive future costs from renovations that lack structural integrity and support.

How Can You Plan for the Hidden Costs of a Home Remodel?

We can help you plan for all the costs of a home remodel, including those that are often an afterthought.

Careful Planning

We can plan for the hidden costs of a home remodel so that you are prepared. Even when financing is not a concern for homeowners, transparency is important, and clients should have a strong estimation of how much they will spend. A budget sets the tone for the remodel, so it’s important to choose one nonetheless.

Careful planning lets us identify and address poor soil conditions, structural issues, crucial system updates, and other issues that might become costlier down the line.

Budget Allowances

We can also prepare for possible future costs by creating space in your budget for them. Setting aside a portion of the budget for contingencies, such as supply chain issues, weather delays, or other costly problems, helps you avoid overspending.

FAQs About the Hidden Costs to Watch for in Remodeling

How Much Do Remodeling Permits Cost?

Permits for remodeling a home may cost several hundred dollars, and even more costly fines for any unpermitted work. Permits are mandatory for major renovations, electrical, plumbing, HVAC, and foundation work, and more.

Can Weather Delays Affect the Cost of a Remodel?

Bad weather is a common, sometimes unavoidable issue during remodels, which is why setting aside a contingency fund is important. Fall generally offers the best weather for building and renovating, with little risk of bad rain or snow.

How Much Should a Home Remodel Cost?

You should spend what you are comfortable with on a home remodel, and Phase One can assess your budget, learn about your wants and needs, and tell you what’s possible with how much you’re looking to spend.

Can Your Budget Handle the Hidden Costs of a Home Remodel?

We are honest with clients when they tell us their budgets, telling them exactly what is and isn’t feasible, and to avoid as many hidden costs as possible later during construction with your contractor.

Is the Cost of Remodeling a Home Worth It?

The cost of remodeling a home is worth it for many reasons, such as enhancing your family’s daily life, substantially increasing your home’s value with updated finishes and features, and offering a strong return on investment.

When Will You Get the Remodeling Costs?

When the final set of remodel plans is complete, we can provide an accurate estimate of your building costs so you know what to expect when working with a contractor during construction.