Are you getting ready to plan your remodel? If so, it’s important to have a good understanding of today’s building market before you start. From labor shortages and higher costs for building materials, you may find that your renovation project is more expensive than you anticipated.
While that may sound like bad news, the good news is that there are some things you can do in order to help control costs and keep your remodel affordable. Let’s take a closer look at 6 ways you can mitigate home renovation costs even as prices are rising.
How to Plan Your Remodel With Today’s High Building Costs
1. Clearly define wants vs. needs.
If there was ever a time to be absolutely clear about what you actually need versus what you want, this is it!
As you plan your remodel, it’s a good idea to have a clear picture of what’s essential and what would be nice but may not be exactly necessary. When aspects of your project are clearly defined in this way, it’ll be easier for you to make important decisions about where to focus your available funds. If prices continue to increase or supplies become unavailable during the course of your remodel, you may need to forego having some of your wants completed in lieu of making sure all of your needs are adequately addressed.
2. Plan your remodel around a realistic budget.
If you go into any home renovation thinking that you know exactly how much it will cost down to the penny, you’re in for a big surprise! With any remodeling project, there can be unforeseen obstacles that arise which inevitably will affect your timeline and/or budget. But now, with supply chain issues, high demand for building materials, and higher material costs, it’s more important than ever to expect the unexpected and plan accordingly.
What exactly does that look like? Well, for starters, it includes clearly defining your remodeling budget. First, you’ll need to determine exactly how much you can afford to spend on your remodel. From there, you’ll need to map out how much various aspects of the renovation will cost, being sure to leave at least 10-15% (or more) for contingencies or unexpected additional costs.
If you reach the end of your project and have money left over, great! You can always work with your project manager to decide whether or not there are enough funds to cover some of your ‘wishlist’ items that you may not have been able to previously include.
3. Work with a design professional to get the most for your money.
While it’s true that hiring a home design professional does cost money, it could help you save money in the long run. That’s because expert designers have the skills, experience, and expertise to know what will look good and function well in your space. Rather than learning from trial and error, you can reap the benefits of having someone on your side who’s been there and done that.
Plus, design professionals are in tune with the current market. If there’s a particular material that’s especially hard to get, they’ll likely know about it. And, they’ll be able to offer you some alternatives that may be easier to find or be more affordable. Rather than building an entire design around materials that aren’t available, they’ll create a design that works for you and your budget that’s also in keeping with current market conditions.
4. Plan your remodel to be completed in phases.
Another benefit of working with a design professional is the ability to see how your remodeling project could be completed in stages. This can help mitigate the potential for delays if materials aren’t available. Considering the current fluctuation of prices for materials, remodeling in phases could also help you contain costs. Or, it could make the project more affordable by spreading out the overall cost over a greater time period.
5. Be flexible with material choices.
Flexibility is one of the biggest keys to affordability these days! Rising costs can be offset by using materials that you might not otherwise have considered. By being flexible with your material choices, you can plan your remodel around what’s available and affordable. And, your design professional can ensure that whatever material you choose will fit well with the overall plan and style of your remodel.
6. Work with a remodeling professional to reduce costly mistakes.
Many homeowners mistakenly think that doing all or part of their remodeling project will save them money. While some homeowners could be well equipped to do minor cosmetic improvements, most kitchen and bathroom remodels are not DIY projects. When they are done by someone without the proper knowledge and expertise, it often costs more in the long run to fix mistakes. And with the rising cost of materials these days, those mistakes will be more costly than ever!
Instead, do your research to find a remodeling company in your area that does excellent work and gets stellar reviews. The right remodeling company can help you get the job done right the first time, reducing the risk of costly mistakes. And, if you choose a design-build firm, you’ll get everything you need all in one contract.
Plan Your Remodel With the Orange County Remodeling Pros
At Sea Pointe Design & Remodel, we’ve been meeting the remodeling needs of Orange County homeowners since 1986. Our professional design team will help you plan your remodel so you can get the most for your money, even in today’s ever changing economy. Then, our expert builders will get to work making that design become a reality.
If you’d like to see examples of our work, feel free to browse through our online portfolio of completed kitchen, bathroom, and whole home remodels. For more tips and inspiration, you can also register for one of our upcoming remodeling webinars and learn directly from our remodeling pros.
Then, when you’re ready to plan your remodel, simply give us a call at (949) 861-3400 or fill out the form below to schedule your complimentary design consultation.