Is your head in the sand knowing what it costs to remodel?
When it comes to knowing what it costs to remodel a space in your home, do you really know the costs? I mean, REALLY know the costs?
The reason I thought this would be a good topic is that we are in the process of getting quotes to re-landscape our backyard. I have a number in my head and so far, the quotes are coming within my number. The Mister on the other hand, doesn't have A CLUE.
When we continued to have this conversation and I starting breaking down the scope of work, you could see that the Mister was calculating and seeing how easy it is to have things add up. Just so you know, the same thing happened with the Mister when we developed our basement.
The Swear Word: Budget
I believe the number one reason that it takes most people a while to fix or update their homes is due to budget. Costs to remodel are typically unknown for most people. Instead of using the word budget, I like to ask my clients what they are willing to invest.
When we make improvements in our home, we are making an investment. The hope is that the choices you make will increase your investment - right?
If you are in the position where you don't necessarily like your home or it is not functioning well for you, and you don't know where to start, here is my top tip to get you prepared and help you figure out costs to remodel.
My Top Tip to Prepare You for Working on Your Home
Research
When it comes to research, I do not mean watching TV to get an idea of the costs. If you seriously think a full-scale kitchen renovation can be carried out for $20K, you will be very disappointed.
In my own research for this blog, I came across this article about the truths and lies regarding the TV shows. They list 8 lies of reality TV shows and is a really good read.
But what can you do to research so that you are prepared?
1. Product Pricing
If you are going to be looking at a kitchen remodel (for example), start researching everything that would go into your new kitchen:
- appliances
- cabinet hardware
- new lighting
- new flooring
- sinks
- faucets
- cabinets
- tile
- counters
Start to create a list of products and pricing. This will be known as your product pricing. While the product budget can be varied, I want you to always remember you pay for what you get. Period.
2. Labour Pricing
A common fraction in my area is that 2/3 of the budget is labour while 1/3 is product. Depending on the scope of your work, large costs to remodel fall in the labour category. If you don't wish to do any of the work OR are not handy, prepare yourself now.
If you are investigating labour, then a place to start is to research reputable companies. When comparing quotes, ensure you are always comparing apples to apples. What does that mean?
- Does the company carry insurance? Every company you look at should carry insurance.
- Can you obtain references?
- What are the reviews like from past clients?
- Does the company have a portfolio you can look at past work?
- Is the quote you are getting from company A the exact same quote as company B?
3. Ask Around
Perhaps your neighbour recently completed a remodel in their home. While they may not give you the exact costs to remodel their home, they may be able to give you a ballpark figure.
The Cost to Remodel
I have created an infographic for some remodelling costs in my area. While this infographic is an 'average' of what we do, your remodel could be lower or higher. My hope is that this will guide you when looking at a remodel for a bathroom, main floor, kitchen, or basement.
Shop the Look
For a little different take on Shop the Look, I've rounded up some items for specifically for ladies and/or moms. Many people express their gratitude towards mothers and mother figures on Mother’s Day. While tomorrow is Mother's Day, you may find some of my choices great gifts for the woman in your life throughout the year.
The items below contain affiliate links. Any purchases, at no additional charge to you, are most appreciated and make this blog possible.
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