Home remodeling projects are an exciting venture to undertake. You get the opportunity to improve your home’s looks, functionality and overall value. However, they can fail if you don’t prepare properly. In this post, a top exterior and bathroom remodeler in the area, DreamMaker Bath & Kitchen of Northwest DC, shares the top reasons construction projects flounder, along with tips on how to avoid these pitfalls.
Underestimating the Construction Project
One of the most common and costly mistakes is underestimating the project, along with inaccurate estimates. Miscalculations, not including permit charges and failing to factor in fluctuating material and labor prices can lead to costly overruns. This results in an unsatisfied homeowner and a stressed contractor.
To get a better estimate, your home remodeler should triple-check their quotations to prevent errors and cost overruns with the project. Your project manager should have a detailed checklist and project plan in place to avoid leaving out important details, and to catch discrepancies in the materials and specifications. If the project’s cost changes, you can inform them in advance to adjust the pricing so that it stays aligned with your budget.
Financing Issues
Even if you’ve agreed to the scope of the work and the timeline of the project, you might run into financial emergencies. In turn, this can delay the progress of the construction project. To prevent this, you need to create a sound project budget. Creating a sound budget entails having detailed expenses and a projected cost to give you an idea if you can afford the project or not. Check if your contractor offers payment plans and find the best one for your needs. Also, have a contingency fund in place to give you some wiggle room to deal with unexpected expenses.
Let’s Start a Conversation!
Searching online for a “home remodeler near me”? Get in touch with DreamMaker Bath & Kitchen of Northwest DC! To get started with a no-obligation consultation, call us at (202) 933-7196 or contact us online! We serve homeowners in many local neighborhoods including Woodley Park, Friendship Heights, Glover Park, Cleveland Park and The Palisades.
