There could be quite a few reasons why people want to renovate or remodel their homes. Regardless of the reason, you should first get an accurate home remodeling estimation before you commence work. Perhaps you are looking at expanding your kitchen, adding a bonus room, installing a home entertainment system, updating your bathroom appliances, or simply redecorating the nursery room. As you may be aware, expanding your home’s existing structure will be more costly than making an internal home remodeling change. After you are clear in your mind about what type of home remodeling you want, prepare budget estimation on whether your project meets your financial affordability.
Even before you contemplate home remodeling, you need to seriously consider whether to remodel your existing home or buy a new one. The decision to renovate or buy is based on a number of factors, .including type of renovation, cost, neighborhood analysis, market valuation, your desire factor and other issues. Go ahead with your home remodeling if the home renovation costs is 30% or less of your home market value. Renovation projects above 30% of your home value are not generally acceptable for most neighborhoods. The cost would be better spent on the purchase of a new home. Of course, this is subject to the type of renovation and location of your home. You should be cautious that in certain areas where labor costs are tight or where there is a lot of home construction activity, your remodeling costs can be high.
Budget for the total remodeling costs must include construction, materials, construction labor, permit fees, decorative enhancements, and repairs due to remodeling and final cleaning up. The total estimation costs must include all required permit fees, labor costs and total hours required, tools and construction equipment, materials including lumber, plumbing fixtures, flooring, cabinets, paint, insulation, tile, countertops, heating, and ventilation units, Incidental repairs that may be required when tearing into the existing house structure, decorative enhancements such as light fixtures, window coverings, and other specialty decor items, fees of all specialized contractors such as an electrician etc.
There are many software programs available online that can help you to get accurate home remodeling/renovation estimation. You simply state what you are looking to do and systematically go through the steps in the program. The end result will show what your approximate cost will be.
You may have to further decide if you want to take spend time and do the renovation yourself or hire some professionals so the job gets done within the scheduled time and also perfectly. Most people would prefer to leave the work to a professional if the remodeling you have in mind is extensive in nature. But if it is of relatively minor nature, then it may be fulfilling to do it yourself.
Notwithstanding the above, you can also get estimate from local contractors to ascertain what the cost will be to do the remodeling/renovation. This can be useful if you do not want to do the work yourself or even if you just want to see how much you will save by doing it yourself. There may not be any need to negotiate as each contractor is the competitor to the other and so they will try to offer competitive bids. You will, in any case, get the lowest cost possible.