Building Maintenance: How to stick to your budget and timeframe
Your home or office space will require an update every now and then. With today’s tough economy it is essential to plan how much you intend spending on the renovation and how long the entire project will take you. We have put together a few guidelines to help you stick to your budget and time frame.
1. Choosing a licensed and reputed contractor
We’ve all heard horror stories of homeowners paying money upfront to shady contractors who never pitch up to complete the job. Avoid being duped by requesting estimates from at least three well-known industry professionals and conducting your own reference checks. If someone offers you a deal that is too good to be true, it probably is.
2. Calculate the amount of money you want to spend
This isn’t always as easy as it seems. A common mistake many people make when calculating the cost of a renovation project is ignoring the cost of the finer details such as the decoration required to complete the ‘look’. Speak to professionals in the industry who have completed similar projects to get an idea of what it will cost you. Identify the space that you want to renovate and put together a list of everything that is required to complete the project.
3. Plan for unexpected expenses
You may want to spoil yourself with a bit of luxury as the renovation takes shape. Keep aside a little extra money for details such as a kitchen backsplash, a feature wall, a fireplace or even luxury seating.
4. Know where your money is going
Compile a detailed list of everything you require and include the costs if possible. Compare your list to the estimates provided by the contractor. Also request in writing an estimated time frame for the completion of the project upfront.
5. Set up a contingency fund
A good rule of thumb is to set aside at least twenty percent of your budget for unexpected expenses that can pop up during the renovation. You never know what needs to be redone or what can get damaged during the renovation. Examples are electrical wiring and plumbing that may not meet legal requirements and pose a hazard to occupants. Issues with electrical wiring or plumbing can also set you back time wise.
6. Stick to the plan
Changing your mind about what you want once the renovation has commenced will cost you time and money. Do no be swayed by the latest design trends or something you saw on television. Remember that once you run out of money you will be forced to live or work within an unfinished space.
Coastal Building Projects – Leaders in Home and Business Renovation
For peace of mind and professional assistance why not give Coastal Building Projects a call. We provide professional renovation services for homes and businesses across the Sunshine Coast and specialise in commercial properties such as Schools, Office buildings and Commercial shops. Our team of professionals will stay within your budget and timeframe. For more information please visit our website: