There are a lot of things that can happen during a renovation project. Your home remodeling contractors will provide you with their best and most accurate quotes to help you plan your budget accordingly. They may even include a portion of the total costs for contingency. Despite this, it’s still important to anticipate certain problems that might bump up the total cost of your construction by a little bit.
The most obvious benefit of having a remodeling contingency fund is that it can save you a lot of headaches in case there are hidden problems that must be addressed. If the whole project goes according to plan, then you have some money set aside for future use. Here are a few of the most common “hidden costs” of home remodeling and how you can avoid or resolve them.
Discovering Issues
Some problems can remain unknown before the actual work begins. Examples of this include mold and rot hidden away in between walls, water damage, insect infestation or, for older homes, the presence of substances that are now considered dangerous, such as lead and asbestos. These issues do not come to light until your contractors tear down your walls, but they are notorious for increasing the cost of any remodeling project.
Auxiliary Expenses
Major home improvements involving two or more rooms in your house can be a big hindrance to your daily activities. Some families even decide to stay in a hotel while the work is being finished. While this is not necessarily a part of the project, it’s still important to prepare for this kind of expense.
Time and Planning
For some, kitchen remodeling can be the most challenging home improvement project only because it involves plumbing and electrical work. The time it takes to layout the designs, including the plumbing and electrical cost should you decide to make changes, are also factors in how much the final project would set you back.
Make the most of your home remodeling project with the help of our professionals at Design Build Remodeling Group of Maryland. Give us a call at (443) 300-2268, or fill out our contact form to schedule a consultation and request a free estimate today. We serve homeowners in Bethesda as well as the surrounding communities.
