Unexpected Costs of Remodeling

Last Updated on November 7, 2011

When planning for a home remodel, it is of absolute importance to have a few things on hand. The first and foremost is your budget. This depends on the value of your home, its size and the extent of remodeling that you have in mind. Often, home owners are indecisive about how far they wish to go with the repair work and end up paying much more than they can afford. The best way to counter these unnecessary costs is to consult and hire a qualified contractor. Make sure to verify his credentials and, once you’re satisfied with his reputation and handiwork, work with him on a developing a realistic budget. You must also be aware, however, of unexpected costs rearing their ugly heads during the remodel, and affecting your budget – in a bad way.

There are several roadblocks that you may come upon. One could be if you discover mold growing somewhere in your bathrooms or kitchen. This is especially applicable if you live in an area with high humidity since the presence of moisture promotes fungi growth. Although its presence is relatively harmless in small quantities (and can be curbed with an inexpensive solution of bleach and water), larger growth needs to be tackled by qualified professionals. This is because extensive mold can cause relatively serious allergic reactions and respiratory problems for those who live within close proximity.

Similarly, while replacing old floors, your contractor may find that the surface under the floor has weakened, again due to the presence of water. Leaking water pipes, faulty drainage or simple negligence by previous landlords could have contributed to damaged flooring. The cost of replacing the flooring depends on the size of the spoiled area. It is worth mentioning, if the cause is weakened drainage or water pipes, it becomes an absolutely necessary to replace them before they cause further damage to your house.

Stemming from the above issue, you may discover that your electrical wiring is defective. This does not only push your electricity bills upwards due to inefficient conduction of electricity, but it may be hazardous to your life – i.e. the risk of fire caused by short circuiting is very real. For repairing your wiring, consult a certified electrician and do not subcontract the work simply for the sake of grabbing lower rates. This is one area where cutting costs is not recommended.

Then again, you could be in for a wild ride if you have drywall installed in your house. Drywall is also susceptible to crumbling because of moisture content in the environment, as well as the chemicals used in the making of the drywall. Although not as damaging to the budget as many may expect it to be, it will only burn a hole in your pocket if these walls lie at crucial junctures and act as a foundation for your house.

With remodeling, given that you never know what you may find under the next floor tile, there is always a threat of surprise, and thus, additional costs. People who are best equipped to undertake extensive remodeling projects have a steady stream of income, adequate retirement savings, or a hidden stash for emergencies (equal to at least 3 months of living expenses).

Author Bio: E. Steadman writes for TotallyMoney, where you can shop for loans for bad credit, and manage all personal finance needs.