How to plan for incidentals and overages when building or remodeling

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Here is how to plan for incidentals and overages when building or remodeling If a home owner decides to remodel their home or if they are ready to sell it, statistics say that 77% to 79% of the remodel is recovered when selling. The same with a bathroom, up to 70% is recovered. So many homeowners are choosing to remodel today and then sell later.

A kitchen remodel can include new cabinets, sink, faucet and appliances like microwave. Add to this custom lighting and a new counter top. Cabinets can be cherry wood, oak stained, plus maybe a stone countertop. Then a new oven and built in refrigerator, new sinks plus floor covering and a ceramic tile backsplash.

Some other incidentals can include drawer pulls molding, pendant lamps, raised faucets, paint and gadgets, and these raise the cost and may not be on the original list.

A mid priced bathroom remodel can include new fixtures, a tub with tile surround, a tile floor, solid surface countertop, a couple sinks and floor covering. Some will include a bidet, and some replace the standard tub with a 4x6' shower featuring a full body wash shower wall.

Others chose to do custom vanity, hard wood trim, water jets, claw leg tub, but tubs can cost thousands of dollars depending on design and custom features. A shower can be lined with travertine tiles. Faucets and sinks can cost around $800 but again, custom items are much higher ticket.

A `do it yourself' bathroom remodel can cost from $7,400 up, a custom can run $25,000. If your skills in doing the work are good, your wallet can fare better. How much you can save also depends on such actions as shopping for bargains. There are building codes and building permits needed for remodeling more than repainting or new carpet. These require compliance.

It's safe to say, you could save up to 50% of your remodeling cost, if you do it yourself rather than use a contractor. Or you can save plenty if you do not use turnkey projects.

As an example, the price of lumber can vary from 20 to 30% at different lumber stores. This can be as nearby as 3 miles apart. The cost of vanities, faucets and mirrors can range from $69 to $2,000 for the same kind of woodworking components.

Some buyers find deals on the Internet, because close out on towel bars, towel rings, toilet handles, all have wide price ranges.

As an example, if you want to remodel a half bath, $800 for labor handyman, $800 plumber, $800 electrician, $150 for tile installer, $400 for drywall installation, $240 for tile floor of ceramic tile, $300 for toilet, $850 for vanity, $150 for mirror $130 for faucet, $200 for lighting, $75 for fan, $600 for permit, $1,100 for architect plans, if needed for permit, 6,495 for a half bath remodel. All of these labor charges but the permit and architect plans are labor charges you might have avoided if you were skilled in these items.

Good rule of thumb is, make your self a list of what is required to do the job, get costs for everything on your list. Load up all supplies, fixtures, cupboards etc and put in the garage or storage area out of the weather. Then stay with your list and do not purchase items on the spur of the moment or on a splurge-shopping trip.

At the time of sale, a turnkey program of a bathroom remodel can net you up to 85% of your investment back. If you do all the work yourself, and can do it professionally, you can save even more. Here is how to plan for incidentals and overages when building or remodeling.

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