Over half of American homeowners had their heart set on a renovation project. No matter the scale of the updates, more than one in four projects will exceed the initial budget plans, leaving us with a median project price of around $10,000. Getting the job done is one thing, but staying in budget and protecting your biggest investment is a different story.
Budget breakers include choosing expensive materials or changing project scope but also unexpected complications during construction – complications which can easily be avoided. A home inspection, though usually thought of as only a step when buying a home, can come in handy. A home inspection by a professional can reveal qualities of your home that you yourself may not even know, including what kind of work and changes can be done. Architect and structural engineers can go a little further by recommending which walls can and can’t be moved and even help you draw up detailed plans and guidelines for a general contractor to follow. As nearly two in three homeowners plan on doing at least some of the work themselves, be realistic with your own capabilities; even if you have experience in renovations yourself, it never hurts to consult with a professional.
Ready to finally begin that project? Plan ahead and don’t go it alone. Here’s how to get the job done right and keep it within budget while protecting your biggest investment no matter the scale, detailed in this infographic below.