How to Estimate Remodeling Costs
Whether the remodeling job is large or small it is always a good idea to know how much you will be spending. Remodeling can throw a few curve balls your way as far as unexpected costs you forgot to figure in. Don't forget to plan ahead so you can have the best experience when remodeling a room or a home. Does this Spark an idea?
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Instructions
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The tool that has always helped me to know how much I will be spending to the dollar when remodeling is a completed punch list for the project. A punch list is a list of what you are planning to do, the materials you will be needing and the time frame in which it will be complete. Creating a punch list keeps you from adding things or changing your mind during the remodel, which can add to the cost of the remodeling project. Be sure to include all finishing touches. For example, if you are remodeling a bathroom, include the price of light fixtures, toilet paper holders or any built-in soap dishes or toothbrush holders.
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First break your remodeling project down into sections. Write down what you will need to do in order to begin your project and what the first stages of the remodel will entail. Make an accurate and obtainable goal for when you want to complete the first stage. List all materials you will need for the first stage and make a trip to Lowe's, Home Depot or where ever you plan on purchasing building supplies. Price all of the items on your list so there will not be an increase to your remodeling bill due to estimating. Be as accurate as possible.
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Continue your punch list for each stage of your remodel. If you break it down into stages like this the remodel with also seem less overwhelming. Write down every detail for each stage until you have a specific dollar amount and time frame for completion for each stage.
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Then complete your punch list in the order you have written it to be completed. Your remodeling project should come out completed as you planned if you don't veer from your plan.
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Tips & Warnings
If you are hiring a portion or all of the remodeling, it can also be estimated the same way. Have each person you hire for a job sign a contract and write the amount they are charging into the punch list. Cost of labor is important to figure into your remodeling project.
