Now that you’ve bought a home of your own, you might be thinking that you’re kind of good at handiwork and you want to give flipping a go. It’s certainly one way to make money in
FIVE HIDDEN RENOVATION COSTS
Renovations never seem to go as planned. There’s always a cost you didn’t anticipate, or a problem that didn’t reveal itself until the project was underway. Here are five common costs to look out for.
1. Higher utility bills: If contractors and builders are working in your home all day, there’s a good chance they’re constantly walking in and out the exterior doors. That wreaks havoc on your heating/cooling efficiency, so watch out for higher utility bills.
2. Movers: It’s pretty hard to renovate a fully furnished home. You may be able to move and store most of your furniture yourself, but homeowners often have bigger pieces that require some hired help.
3. Food: If your kitchen is being torn apart, preparing meals becomes a lot more difficult. You may be able to keep your food budget steady by switching to meals that don’t require counter space, the stove, or the oven, but don’t be surprised if you end up dining out more often.
4. A few nights in a hotel: Depending on your renovation, there may be some nights where sleeping in your home isn’t practical, or you just need a mental break from the mess. Budget for a few nights at a hotel ... or just schedule your family vacation for the worst part of the renovation.
5. Deep cleaning: It’s one thing to clean and maintain your home after a typical week or two of living. It’s entirely different to clean up after a construction project, as sawdust and other debris can get in every nook and cranny. It may be worth your sanity to just hire cleaners.
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Hi, I'm John Thomas, and I am a full-time/full-service REALTOR® at eXp Realty in Atlanta Georgia. I was born in Chicago, grew up in Elmhurst. I attended York High School and Loras College. I have a B....
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