Streetsmart insurance Blog
The number one thing that you have to consider when you are planning to have home improvement projects is to have sufficient budget. If you want to have a mini makeover for your house, then that requires a lot of tasks. Expect more tasks with a major renovation. The thing is that everything depends on how much cash you have on hand. The rule of thumb is to stick to the budget and to take care to avoid extra costs. Here are some ways to help you manage your money during the early stages of any home renovation project.
Plan all costs in advance.
Before embarking on a home renovation project, check out the fees of your design professional and let him inspect the house and the entire area for renovation. Always check all the corners and all the nitty-gritty in order to avoid surprise expenses later on during the actual renovation. You can make this extra effort, and it will save you a lot of headaches in the long run.
Make a final list of what you want.
If you are working on a complete overhaul of the bedroom or the bathroom, make a detailed list of all the things that you need. You need to specify the door location as well as the location of electrical outlets. You need to take note of the room configuration and details needed for plumbing. Discuss all these changes with your design professional. Be aware of all the changes that have to be carried out, including structural work as well as plumbing and electrical adjustments.
Have a clear contract of work.
Before beginning any work on your home, ensure that the contract has been understood and the conditions clearly stated. The contract should indicate the exact scope of the work and the timeline as well. This can also prevent contractors from frequently making changes on item orders that were supposed to be included in the final cost. Moreover, you can use this contract as a good basis for any similar negotiations that you may have in the future.
Understand costs before deciding on changes during the renovation phase.
The most important thing is that you are hands-on when it comes to the entire construction process so that you can easily monitor material use and costs. If you cannot do this yourself, then you should hire someone you trust. If you do so, it can give you an idea about how much the running budget should be. Be careful too when giving extra instructions to laborers because this may increase the overall cost of the project. Therefore, it is better to discuss changes with your contractor before you make any decision.
Some Final Words
Aside from all these tips, you should also ensure that the project is properly carried out. You should also have a contingency fund ready, or else, the construction may have to stop prematurely. When you are doing a home renovation project, always accept the fact that there will be delays and setbacks. You should, therefore, be ready with extra money that is equal to at least 15% of the entire budget. In any case, you will also be needing homeowners insurance.
At Streetsmart Insurance, we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (732) 462-8343. Get your free quote today by CLICKING HERE.