October 12, 2020
Key Factors to Consider When Planning Your Renovation or Remodel
Due to COVID-19, many families are having to adapt to new work-from-home or remote learning initiatives. As a result, they are now considering renovating their homes to make them more functional and comfortable. If you are considering a renovation it is important to keep these issues in mind:
1. Not All Quotes are Equal
We have all heard the saying, “You get what you pay for,” and the same goes for renovations. That’s not to say that the most expensive quote is going to yield the best results, but opting for the lowest price could have its disadvantages in the long run. When comparing quotes, it is important to ensure that you are comparing like services and materials to make an informed decision. A quality work product will stand the test of time.
2. Cost, Quality and Time – What’s More Important?
In any renovation project there are 3 factors to consider: quality, cost, and time. Keep in mind that you will only be able to control 2 out of 3 of these factors in any given circumstance. Here is what you need to consider:
A larger budget means you have the flexibility to hire more experienced professionals and purchase quality products, with the expectation that the job will be done right the first time. If money is tight, consider scaling back your renovation plans, opt for less expensive finishes, or consider taking a phased approach that you can tackle over time. That said, allowing sufficient time to plan your renovation and source out materials will limit your need to pay a priority rate.
If you are looking for quality materials and experienced contractors, it goes without saying it will cost more. The attention to detail that comes with quality workmanship takes time to complete. While you can purchase cheaper materials and hire less expensive workers, you are likely to experience lesser quality as a result.
If you are looking for a quality work product completed on a shorter schedule, it will cost you more money to have additional resources available to complete the job. Remember, you can only make things go faster with more bodies on the job, which in turn costs more money. Conversely, if you want a job done quickly and for lower cost then the quality will inevitably suffer. You can maximize the speed at which your renovation is completed by making timely decisions on materials and selections.
The key takeaway: cost, quality, and time will have a push-pull relationship in every renovation. Determining which two factors are the most important to you, will help focus your efforts when selecting a company to work with and help ensure positive outcome for your renovation.