Beware of surprise costs when remodeling
Jul 10, 2012, at 9:00 am by Berit Griffin
Knock out a wall, upgrade the kitchen, add a three-seasons room — seems we all have our next remodeling project floating around in our heads. With that, a price tag. If you thought the costs associated with building a new home were difficult to estimate, remodeling can present a veritable quandary all its own.
Over at Houzz, Lisa Frederick shares the rundown on the biggest potential surprise costs associated with remodeling projects. Of course, they key to avoiding some of these costs is getting a good, honest assessment up front. Hire someone you trust who comes with a great track record. Eliminate surprises!
Here’s what you should be looking out for:
- Higher property taxes -”Major additions or updates, particularly in spaces such as kitchens and baths, can increase your home’s assessed value, and that can enlarge your tax bill.”
- Hidden horrors – “If demolition reveals a colony of creepy crawlies lurking beneath your drywall, you’ll have to call in the pest control folks to evict them before work can proceed.”
- Offsite storage – “You’ll need to stash your stuff somewhere while work is in progress. “
- Building code quirks - “Codes vary depending on where you live, but you may well face a list of requirements that must be satisfied in order for your permit to go through, particularly in an older home.”
- Utility bills – “Whose electricity powers all those table saws, nail guns, paint sprayers and floor sanders? That’s right — yours.”
- Dumpsters and portable toilets – “Don’t be shocked to see these items in your contractor’s estimate.”