5 Reasons a Contingency Fund Is Essential to a Remodel

A home remodel is no small undertaking. That’s why you have to plan accordingly in the event your project goes off track. One simple way to do this is to set aside extra funds to cover possible issues. DreamMaker Bath & Kitchen of Huntsville, the area’s trusted interior remodeling contractor, details what makes contingency funds crucial to a renovation project.

  1. Deal with hidden costs. Unwelcome surprises are not uncommon, and you’ll want to fix them before work continues. If you have contingency funds set aside, they can lessen the sting of those additional repairs and keep your home remodel on track.
  2. Acquire the necessary building permits. Home renovations typically require building permits, which are not free. You’ll want them pulled before the work starts, otherwise, new features may have to be removed. You can avoid this massive headache by making sure you have the required building permits and the budget for obtaining them.
  3. Proper debris disposal. Another way setting a contingency fund is especially handy: it allows you to efficiently deal with construction debris from your home remodel. Debris has to go somewhere once the work is done, and it will be up to you to hire a vehicle, rent a dumpster or work with a company to dispose of the mess properly. By taking the expense of post-construction cleanup into account, you won’t have to do the actual removal yourself.
  4. Update existing home features. Home remodeling offers the perfect opportunity to take your living space to the next level, not only in terms of aesthetics but functionality as well. If the project involves opening walls, consider adding in-wall speakers, cable, aging-in-place features and other practical but attractive upgrades. 
  5. Adding finishing touches. Your main remodeling budget is being used for cabinets, countertops, paint colors and fixtures, but you’ve probably overlooked budgeting for new drapes, door hardware and other decorative extras. To ensure these items aren’t neglected, make sure you have an additional budget set up for them.

Let’s Start a Conversation!

A home remodel is easier when you work with the trusted experts at DreamMaker Bath & Kitchen of Huntsville. We proudly serve homeowners in and around Huntsville, Madison and New Hope. Call us today at (256) 203-9451 or fill out this contact form to schedule your free consultation.

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