When beginning a home remodeling project, it is hard to even know where to begin. Usually a homeowner has the end result or a list of features in mind when they begin to call contractors to obtain estimates for a project. But many times the home renovation estimates are extremely different in price. A homeowner wants to get the best price possible, while making sure that high quality work is performed. Follow these steps to get the best estimates for your home renovation project.
- Do your homework before calling anyone. Generate a list of exactly what you want. List any appliances, flooring, painting and construction needed. Be very specific. Then spend some time online or in storerooms to determine a fair price for supplies and labor if possible. In most cases, a contractor should be able to offer comparable prices. Sometimes they have established supplier relationships and can save you money. Other times you may choose to purchase the materials yourself to receive the best price available. By researching pricing options, you will be able to determine if items on the estimate are appropriate prices and you will be able to protect yourself financially.
- Have your renovation area inspected. Several things can make a tremendous difference in pricing. Many times these issues occur without warning and having an inspector look for electrical, plumbing, or other potential problems can allow you to plan ahead and meet these challenges before beginning a large home renovation project with underlying issues.
- Always ask about possible additional costs. Many times problems do occur during a renovation. However, an experienced contractor should be able to discuss and offer possible pricing for potential issues. Insist the estimate be recalculated before a change requiring additional costs is approved.
- Add 15%-25% to your budget for unforeseen issues. Even the best project manager may encounter additional costs. Saving additional funds before the project begins can prevent substantial overages and help you have a successful renovation experience.
- Get multiple estimates and ask for referrals. Make sure that there is a line of satisfied customers behind every contractor. Call the referrals and make sure that they were pleased with the final result of their project and that no problems have developed since the project was completed. Ask about the customer service and how they acted when problems occurred.
By following these steps before beginning your home project, you will be able to get the most information from your home renovation estimates and be able to make an informed decision on which contractor to hire.