- Introduction
Valerie Summers, a seasoned renovation expert at A Dependable Construction & Remodeling, Inc. in Waxhaw, North Carolina, was recently featured in HelloNation Magazine. She shared valuable insights into budget planning and financial preparedness for home renovation projects.
- Key Insights
A. Comprehensive Budgeting
Create a detailed, itemized budget.
Include often-overlooked costs such as:
Building permits
Increased utility bills during construction
Temporary housing if areas of the home are unusable
B. Contingency Planning
Always allocate at least 10% of the total budget for unforeseen issues.
Common surprises include:
Hidden structural problems
Water damage
Outdated wiring or plumbing
C. Scope & Timeline Definition
Clearly outline the scope of work before the project begins.
Establish realistic timelines to minimize disruptions and ensure accurate budgeting.
D. Choosing the Right Professionals
Hire contractors who are:
Licensed and insured
Familiar with local building codes
Involve them early to identify risks and streamline execution.
- Practical Benefits
Reduces stress by minimizing financial surprises.
Improves efficiency with clearly defined expectations.
Protects homeowners from costly delays and code violations.
Increases confidence in managing large-scale renovations.