The home renovations surge continues into the holidays, according to a survey by Modernize.com. This holiday season, a record number of homeowners are planning to stay home and renovate.
Around 76 percent say they do not plan to travel this year. Instead, 28 percent are planning on embarking on home interior projects, and 17 percent are aiming to complete both interior and exterior home renovation projects.
As the housing market in South Florida continues to boom and homeowners turn to home improvement tasks to boost their home’s resale chances many are also citing a common worry: the fear of common home renovation traps. With the construction industry across the U.S. still struggling, many homeowners are now left wondering how to best navigate potential roadblocks when embarking on their home renovation project this holiday season.
Finances: Raise Your Cost Expectations And Budget For 50 Percent More
Typically, homeowners should budget $50-$60 per square foot for renovation costs. However, in some areas like Miami, renovation costs can be up to $250 per square foot. Experts are recommending that homeowners add 50 percent to their renovation budget.
To get a more accurate picture, do your homework before choosing a contractor and starting your renovation. For instance, according to HomeAdvisor’s report, a bathroom remodel can cost $6,086 to $15,319, while building a home addition in Florida can cost $200 per square foot for premium construction and $113.28 per square foot for standard construction.
Similarly, if you are planning to make sustainable renovations to your home in Florida, make sure you account for the cost of green home design and construction certification in your budget.
According to Austin custom home builders, the cost will depend on the level of customization you want in your home renovation. If your renovation includes structural changes, you will also need to pay for a structural engineer. Get as many details ironed out when securing bids or quotes from contractors, and take your time to consider their merits for the job, including pricing and past portfolio.
Timescale: Expect It To Take Longer
Another thing that has changed when it comes to home renovations is the timeline. With it being the holidays and a home renovation boom, contractors are in high demand. To be on the safe side, it is always recommended that homeowners add additional renovation days onto a contractor’s quoted estimate to avoid being surprised.
If you are in a rush and want to get your renovations done before the holidays, try adding a late fee clause into your contractor’s contract. Also, don’t get rid of your shortlisted contractor bids. Having an alternative on hand speeds up the process in case a contractor quits or cannot meet the agreement.
Design: Roll Up Your Sleeves For Any Easy DIY Options
Finally, if you want to keep your renovation low stress, low cost and on-time, find ways you can keep it moving. Attempting DIY can save labor costs, allow homeowners to put a unique touch on their renovations, and keep the renovations moving when contractors cannot work (for instance, if they are sick, on another job, or do not work weekends).
Make a list of renovation tasks to determine what you can do yourself, such as tasks like clearing the debris or painting the walls. However, be careful not to commit the DIY faux pas in renovations like overreaching in your DIY efforts and ignoring whether DIY is cost-effective. For example, you may need to purchase specialty tools for certain tasks, which can cost a lot. In this case, it may be cheaper to outsource this to a contractor.
As the South Florida housing market continues to soar, home renovations are rising with it. Approach your renovations with a positive attitude, and get ready to roll up your sleeves.
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