How to Correctly Estimate a Renovation Project?

How to Correctly Estimate a Renovation Project?
  • Opening Intro -

    It's essential to make an accurate estimate and precise takeoffs from the outset while preparing a project for your home, or you'll end up having to adjust your plans and have to prepare everything over again.

-------------------------------------

It is here that hard work and thorough research plays a significant role. You have to spend some time recording information on items like builder pricing, the elements that must be updated during the redesign, etc.

Working within a cap is always a struggle. It is an even bigger challenge to build a budget for a large project you have never experienced before. When it comes to home renovation costs, a detailed plan and a lot of research are required to build a realistic budget.

Any calculation is part art, part scientific. Yet calculating remodeling and home renovation costs, such as takeoffs and quantity estimation, focuses much more on the equation’s art side.

Consistency requires crucial judgment and ultimate knowledge. There are several factors in estimating remodeling, which add to the cost and uncertainty.

An experienced remodeling agency and construction company can help you with cost estimation and overall budget planning for the renovation project.

One rule of thumb in remodeling is calculating how long a task will take and then double it up. It will always be closer to the renovation costs.

Let’s take a look at some of the steps which can help you correctly estimate a renovation project from start to finish.

What Is a Renovation Project?

Renovation is the method of renewing a house or structure by replacing what already remains and adding new elements, in some situations. Renovation beautifies and adds to the overall elegance and aura of the house without having to build it from scratch.

Renovation tends to be a lot cheaper and easier than plain modernization. This may also be more cost-effective than reconstruction, depending on the method.

Renovations are usually done in conjunction with restorations. For example, if you want to revise and restore your bathroom and add new elements to it, it will become a restoration and a renovation project. Renovation allows you to modify the existing infrastructure while restoring its status and health.

Different Types of Renovations

These days, home refurbishment and renovations have become very common. More and more homeowners choose to live at the same location, instead of buying a new home.

Home renovations are happening at an ever-faster pace to make room for growing families and ever-changing needs of the modern era. There are four major types of renovations.

look for: building codeslook for: remodeling tools

Whether it is appropriate to upgrade the house, create more room or simply make the home better reflect the nature and desires of a household, these are the major renovation types that apply to a wide range of renovations. Pre-planned takeoffs can help set a realistic budget for the homeowners.

  • Kitchen Renovations

    The most popular type of major renovation in a home is the renovation of the kitchen. It is also the best way to increase the value of a home should it be sold on the market. There are numerous reasons why kitchen renovations can be undertaken.

    The homeowner may want to add more usable space, upgrade appliances and cabinetry, or change the overall theme of the kitchen depending upon their preferences.

  • Bathroom Renovations

    Renovations of the bathroom are usually not on the same magnitude as renovations of the kitchen, but since they can require plumbing and render a bathroom unusable during the construction, these are important decisions.

    The takeoffs must be done at least twice to ensure that everything is in order, and you are ready to redo your bathroom.

    Renovations to the bathroom provide the means to improve comfort within a household and are gradually done to help a family conserve water and electricity through green fittings.

  • Basement Renovations

    Finishing a cellar is one of the best ways of bringing usable space to a gorgeous house. Basements can become full bedroom suites, or, depending on the needs, can be used as entertainment areas, game rooms, in-law suites or large apartments. Such major renovations, too, will require a huge amount of work and planning.

look for: ping pong tableslook for: home theater system

  • General Additions

    It is also very common to make a new space in your home. Families with two or more children and not enough bedrooms often choose to add new space, so that each kid has their own space.

    If you want to keep most of the house alone but want to incorporate a bedroom, family game room, sunroom, or something else, general addition and renovation can get the job done.

    These are significant factors, as the internal structure of the house will be modified through renovation. You must be prepared beforehand with pre-planned and well-researched takeoffs.

Make a List or Drawings of the Work to be Done

It’s easy to neglect basic things like licenses and permits when renovating the house. Get ready with a master checklist for each and every project you decide for your house. Make a list of things to be done beforehand. These things may include:

  • Plans and specifications
  • Plan review costs
  • Permits – building, environmental, etc.
  • Surveying costs
  • Impact Fee
  • Administration
  • Demolition
  • Takeoffs
  • Quantity Estimation
  • Labor Estimation
  • Dust control
  • Surface Protection techniques
  • Security
  • Waste disposal
  • On-site storage

Measure and Determine Quantities

Once you have made a list of things to be done, the next step is to measure the quantities of raw materials and other elements required for the renovation project.

Takeoff services can help you with this step. For accurate measures and quantities for labor costs for developers, builders, plumbers, and handymen, using tools such as HomeAdvisor can be of great help. These tools will also help you in assessing the quantities required for your project.

look for: dust containmentlook for: kitchen appliance package

Pick the fixtures and finishes and determine what you are spending on them. Include color, knobs, faucets, doors, floors, and whatever else you need. Don’t forget to include the product taxes and shipping costs in the calculations. You can hire a cost estimator to help you with the estimation.

Get Quotes from your Contractor

By now, you should know what you need to successfully carry out the renovation project. You now know what you want and what you can manage. It’s time to find a contractor near your house and ask for quotes.

Now is the time to find construction businesses with good reviews and invite them to build a project proposal. Get quotes, takeoffs, and bids from at least three firms to assess the prices correctly.

Create a Spreadsheet of Costs

Once you have the estimated raw material, labor costs, schedules, quotes, and a detailed plan of what you want, the next step is to jot down everything in the form of a spreadsheet.

After establishing the target for your home renovation, build a comprehensive spreadsheet plan that includes expected costs. This will help you build a schedule for the remodeling and coordinate with your contractors precisely what you want. Create a table that contains each part of the project, as well as projected labor, takeoffs, and material costs.

other valuable tips:

Negotiation

Before giving the green signal, the last step is negotiation. Of course, you cannot start working with the first contractor you set your eyes on. Get into the negotiating mode, and start asking for discounts and margins wherever the contractor can afford.

Negotiations are a huge part of any business, and it is essential when it comes to renovation. You can save a lot of money by negotiating and getting a final price, which is closer to your actual financial reach. Now, you can begin renovating your home to get your dream living place.

Find Home Remodeling Services
Additions Major Remodels
Minor Remodels Disability Needs
top-rated, pre-screened local contractors
pdf file FREE: download contractor selection
enter zip code – powered by HomeAdvisor ™

 

Image credit: by Pexels

end of post … please share it!

-------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------

directory photos forms guide

Helpful article? Leave us a quick comment below.
And please share this article within your social networks.

facebook linkedin pinterest

Amazon Affiliate Disclosure: LetsRenovate.com is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com. The commission earnings are used to defray our cost of operation.

View our FTC Disclosure for other affiliate information.

Categories: Home Renovation

About Author

LetsRenovate Admin

From the administrative staff at LetsRenovate.com. We hope you enjoy this article and the elements of the site. Please forward any suggestions or comments regarding the posting or other suggestions for improvement. We also operate other helpful guides in education, money, travel, and business. Visit our main site for address information. Thank you. Please share this site with friends and family.