Extensive Kitchen Remodel? Be Sure To Factor These 3 Overlooked Costs Into Your Renovation Budget

About Me
Starting a Business: Finding the Right Location

After years of saving and planning, I finally opened my own retail establishment. Before I could do so, I spent a lot of time looking at real estate options. With the help of a commercial property management firm, I did find a storefront with a great location, and enough room for my business. The agent at the firm helped me a lot by creating a profile of the type of commercial property I needed. We went over details such as lighting, display space, and even the number of electrical outlets. With the profile in hand, she found several properties that were worth considering. If you are setting up a new business and need space, let me explain why working with a property manager makes sense. I'll tell you more about how we worked together to find a place that met all my needs, including the rental cost.

Tags

Extensive Kitchen Remodel? Be Sure To Factor These 3 Overlooked Costs Into Your Renovation Budget

14 September 2015
 Categories: Real Estate, Blog


A typical kitchen remodel can last anywhere from one month to several months, depending on how extensive your plans are. From the beginning of day one to the very last day, you can expect money to keep flying out of your account. Not only are renovations expensive, unexpected costs and the financial realities of caring for your family during a remodel can deplete your bank account faster than you'd ever imagine. That's why it's so important to try to plan for all costs before you start a kitchen remodel. Following are a few overlooked costs that you should consider. 

Increased Food Costs

If you plan on staying in your home while your kitchen is being remodeled, you should be prepared to live without a kitchen for the majority of the remodel. While you can set up a makeshift kitchenette in another room, which might consist of a small fridge, microwave and hot plate, you will not be able to cook like you're used to. You will likely have to purchase more convenience items, which tend to cost more. And you will probably eat out more than normal because cooking and cleaning up without a fully-equipped kitchen is not anyone's idea of a great time. Be sure to factor all of these increased costs into your kitchen remodel budget

Cost for Delays

In the world of renovation, things don't always go as planned. Unexpected issues, such as poor wiring, permit delays and inclement weather, can increase your cost for materials and labor. Always add an extra 10 to 20 percent to your initial budget to cover unexpected costs. If your budget consists of a lot of estimates instead of hard numbers, you might want to put a little more back for the unexpected. 

Possible Hotel Costs

While you might plan on staying in your home for the entire renovation, circumstance might make it impossible. For example, if the construction team has to leave the power or water turned off for a couple of days, living in your home might become unbearable. For this reason, you should always factor hotel and emergency housing costs into your kitchen remodel budget. 

As you can see, there are several unexpected costs that might arise during a kitchen remodel. If you want to complete your remodel without going broke in the process, account for everything you possibly can before the first hammer strikes. If you don't have a large enough cushion to see you through, you might want to save a bit more before work begins. 

For more information, contact Renovations Of Excellence Kitchen Renovations or a similar company.