Estimating Home Improvements

 


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To be successful, every home improvement project should be based on a sound plan. There are an abundance of books and other publications available, where you can get some great ideas. After you decide exactly what you want to do, try to estimate your costs as accurately as possible. Making a rough sketch can be helpful in working up your materials list.

Shop around for the best prices, and watch for sales. Try to visualize the stages of your project, and make sure you've listed every item, no matter how small. When you're certain you haven't forgotten anything, add 10 percent for wastage; and allow yourself double the time that you think you really need!

Home improvement magazines offer a wealth of materials knowledge; manufacturers’ brochures can also help you compare materials, and are readily available for free at building supply stores. Carefully weigh the differences between standard materials and pre-fabricated units. Products designed for installation by the home-owner can often be installed quicker and less expensively, but might not afford the same results as traditional materials. On the other hand, the do-it-yourself products are usually designed to be installed without a lot of specialized knowledge or tools, and could make the difference between getting the job done or not.

Financing your project: unless it's a very small project, you could be arranging a loan - and you should shop around for a loan like you would for anything else. Compare the costs against the advantages of personal, home-equity and mortagage loans. You might be able to obtain a CMHC loan, and depending on your individual circumstances, part of the loan might even be “forgiveable".

Do you need a contractor? Carefully consider your project, and unless you're an accomplished renovator, you'll find that contracting some of the work is easier (and sometimes even cheaper, in the long run) than doing it yourself.

Word of mouth is the best reference for a contractor. If you don't know someone who's had similar work completed by a contractor, then ask your bidders to provide you with references. Call their previous clients and ask them about their level of satisfaction, before you accept any bid. Ask about price, punctuality, workmanship and quality of materials.

Is your contractor licensed? Is he insured? Bonded? Does the Better Business Bureau have any record of complaints against him? How long has he been in business? (Most new contractors are out of business within the first three years. )

Ask for a detailed contract, including a full job description, material specifications, start and finish dates, permit numbers, clean-up, on-site behaviour, change-order clause and payment schedules.

Agree how disagreements will be handled before you begin the project. Planned arbitration will reduce the time, effort and energy spent on disputes.

I suggest that you observe the work regularly to minimize errors, ommissions and miscommunications. A healthy interaction with your contractor(s) will make the job go smoother!

Suggested reading: How To Be Your Own Contractor, Gene and Katie Hamilton, Collier Books, Maxwell MacMillan Canada, 1991.

New Complete Do-It-Yourself Manual, Reader's Digest Association (Canada) Ltd. , Montreal 1991.

Copyright Gil Strachan - All rights reserved.

Gil Strachan is a professional home inspector, representing Electrospec Home Inspection Services in east-central Ontario, Canada since 1994. Visit http://www.allaroundthehouse.com to learn more about home inspections.

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