Renovating your home can be a daunting task, especially when it comes to calculating the total cost. That’s why we’ve put together this guide — to help you estimate and plan for the cost of your renovation project, from bathroom extensions to the price of roller shutters and everything in-between. Read on to learn more about how to determine the total overall cost of your home renovation project.
Establish Your Goals & Priorities
The first step in calculating the total cost of your home renovation is to establish your goals and priorities for the project. What are you hoping to accomplish with this renovation? Is there one area where most of your budget should be allocated? Once you’ve established what your goals are for the project, you can start breaking down each element that needs to be included in your budget.
Get an Estimate from a Professional Contractor
The first step in calculating the total cost of your home renovation is getting an estimate from a professional contractor. Most contractors will provide you with a free estimate, which will give you an idea of how much money you need to budget for each phase of your project. It’s important to get multiple estimates so that you can compare prices and get the best deal possible. Additionally, make sure that any estimates provided are itemised, so that you know exactly what is being quoted and what services are included in the price.
Calculate Material Costs
Once you have an estimate from a contractor, it’s time to calculate material costs. You need to factor in any materials or supplies needed for each phase of your project — such as paint, lumber, tile, etc. This is also a good time to consider whether or not you want to use high-end materials for any part of your project, as this could increase the overall cost significantly. When calculating material costs, make sure you include everything from start to finish (including tools and hardware needed for installation and clean up after completion).
Factor in Labour Costs
Finally, don’t forget about labour costs! This means contractor fees as well as labour costs associated with hiring subcontractors or other professionals (such as electricians or plumbers). Make sure these figures are included in any estimates provided by contractors so that you have an accurate picture of how much money needs to be allocated towards this.
Calculating the total cost of your home renovation project is key to staying on budget and ensuring that everything runs smoothly during construction
Use this guide as a starting point, and then use the tips and techniques outlined here to ensure success throughout every step of your project. With careful planning and preparation, calculating the total cost of your home renovation doesn’t have to be overwhelming — it can actually be quite enjoyable and provide peace of mind. Good luck!