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Page 8 2016 Fall Home Improvement LINCOLN DAILY NEWS SEPT. 27, 2016
The size and scope of the project is another
consideration. Pegasus Design to Build owners
Geoff Shafer and Jane Torchiana-Shafer say you
should “start by matching the project scope to your
priorities for your newly renovated home. Working
with your remodeling contractor, establish basic
pricing guidelines that match each priority and adjust
the project scope from there. Scope is the biggest
factor in establishing and controlling your remodeling
project budget.”
While it is important for the project size to match the
budget, the freshome site suggests having “a budget
for going over budget” and “Never assume that your
budget won’t go over your estimation.”
The freshome site says even if you “have done your
homework on how much your materials, labor, and
miscellaneous remodeling components will cost,” you
should plan for “unforeseen circumstances that will
not be conveyed until the project starts.” For instance,
“Opening up walls can often lead to electrical,
structural or plumbing surprises. Remodeling older
homes can often unveil mold, pipes leaking or rotting
and deteriorating wood. Keeping this in mind, create
a lower budget than you think you will need, just in
case.”
Local electrical contractor Dave Blankenship says
one problem is that many people do not plan for these
unforeseen circumstances.
Liz Crystal in her article “Avoiding the Money Pit”
suggests you “set aside 20% of the overall budget to
handle the unexpected.”
When figuring out your budget and plans, do not be
oversold by spending so much on your renovation that
you will not get your money’s worth if you sell the
home in the next few years.
While you should not overspend as you consider the
scope of the renovation and look for materials, it may
be worth it to splurge on some items.
Melanie Pinola in her blog on where to splurge and
where to save when you remodel says, “Very few, if
any, remodeling projects will return 100% of your
investment, so the decision to remodel should be more
about your enjoyment of your home and getting more
out of it. For any space, think about your family’s
lifestyle, and spend more on the areas that support
those priorities.”
Two places Pinola says you might want to splurge are
on kitchen and bathroom remodels. Pinola says, “If
you’re a gourmet cook, a professional range would
likely be worth the investment to you. For busy
families, a large kitchen island/breakfast nook might
be more important.”
In bathrooms, consider how much they are used.
For instance, Pinola says, “In a high-traffic powder
room, a high-quality low-flow toilet might be most
important, whereas in the master bath you might focus
more on a double sink vanity.”
Knowing when to assert yourself in the project is
also important. You need to tell the contractor what
you want to be done and communicate about your
expectations. When you see a problem or see them
doing something such as using a different paint color
than you requested, speak up.
In an article about kitchen remodeling trends Katie
Marks says, “Don’t be afraid to assert yourself with
your remodeling professionals to make sure their
tastes don’t override your own. You’re the one who
has to live with the result, not them!”
These are just some tips for keeping within your
budget. Having some specific plans will likely make
your project go more smoothly, cause less stress, and
make your renovation more successful.