Starting a new home construction project requires a significant time and effort investment from both the construction company and the homeowner. When homeowners understand the process, it can help them manage expectations. Before you start your new construction project, use this homeowner’s guide to navigating the construction process.
Establishing a Budget
The first step of any construction project is establishing a budget. The budget should be reasonable enough to cover the work without breaking the bank.
Knowing your budget will give you an idea of the type of work you can do. You may not have enough money to add a third bathroom to your house, but your budget may allow you to make one of your current bathrooms larger or at least revive it. It all starts with your budget.
The majority of a construction budget goes toward materials and labor. Homeowners should get quotes from multiple different construction companies to determine who can do the work at the lowest price. Of course, it’s important to work with a licensed and insured company instead of saving money on an unauthorized service. It’s also a good idea to talk to your potential contractors about payment plan options. When you can pay for the project in monthly installments, you’ll be able to invest in options with a better ROI.
In order to establish a budget, it can be helpful to understand how much a particular project will cost. Of course, each construction project is unique. The final cost of the project will depend on the size of the space and the desired outcome.
Homeowners should always leave themselves a little wiggle room in the budget for unexpected expenses. Otherwise, homeowners can get stuck with an unfinished project or unanticipated debt
Remodeling
Remodeling a part of your home refers to tearing it down and replacing the main elements, such as the floors, walls, and cabinets. A remodel will recreate a space to give it a completely different look and feel.
Bathroom remodels typically start at $5000 and increase in cost based on the size of the room and the materials used.
You may need to compromise on building materials to fit your budget. For example, many homeowners love the appearance of marble counters, but marble counters tend to be quite expensive. Therefore, you may choose a more affordable option, such as ceramic tile.
Homeowners can use remodeling estimate software to determine the estimated cost of their dream remodel
New Construction
Certain construction tasks involve brand-new construction, such as building a new house or adding an addition to a house. New construction involves much more than a remodel or a renovation, as it involves creating new foundation and framing. Large projects like new construction also have the most potential for unexpected costs.
Get a construction estimate to get started.
Make your contractor aware of your budget early in the process so that they can help you stay on task.
You don’t want to skimp on new construction materials. The higher-end materials tend to last longer and be more efficient, making it a better investment for you down the line.
For example, vinyl siding is affordable, but it’s going to require repair or replacement sooner than a more expensive option, such as brick
Renovation
A renovation refers to the process of rejuvenating a current room without necessarily altering the main elements.
For example, a kitchen renovation typically involves painting the current cabinets, upgrading the plumbing fixtures, and changing the lighting fixtures.
Renovations can give the room a fresh appearance on a budget.
Use a renovation cost estimator to start planning your project.
The Construction Process
Once you decide on a contractor and the building materials you want to use, the construction process will begin. Depending on the project, you can expect the construction to take weeks or even months. During this time, you may need to adjust to construction sounds and construction waste at your home.
Don’t forget to include waste disposal in your budget. You may need to pay for a dumpster on-site if the contractor doesn’t provide it for you.
Conclusion
You don’t want to find yourself surprised by the cost of your construction project. Luckily, Cost Certified can help you plan properly.
