KEY CONSTRUCTION COSTS TO SAVE MONEY
So, you’re renovating and your bids are 2x more expensive than you anticipated.. unfortunately, this is a bit of the nature of the beast when it comes to new construction or remodelling. As designers, we can help guide budget with the finishes (tile, stone, lighting, etc.), but with years of experience facilitating construction bids and contracts with clients, we have also become extremely familiar with which large construction costs which can expand or shrink your budgets. Of course, this largely depends on preference – for example: a custom steel window will be an obvious higher cost VS an in-stock window off the shelf from a standard supplier. With these bullet points below, this can help determine what costs really mean that much to your aesthetic goal compared to your overall budget.
KEY AREAS TO SAVE
1 WINDOWS AND DOORS
For an entire home, we sometimes we see this cost come as high as 30% of your overall construction budget. The products themselves are quite expensive, but with a bit of due diligence, you can get this down to +/- 10% of your construction budget.
OUR ADVICE:
Bid comparative products with at least 3 separate window sales companies.
2 INTERIOR MILLWORK (CABINETRY, BASEBOARDS, DOORS, TRIM, CLADDING)
The product itself and labor are what bring a high number for interior millwork. Obviously you can’t be without cabinetry in key areas (Kitchen and most Bathrooms), but if budget is at the forefront, be prepared to scale back on built-in’s or wall and ceiling finishes once you receive your bid.
OUR ADVICE:
Bid out your goal look and scale back in certain areas in order toyou’re your
numbers in line.
3 PAINTING
Painting is always a sub-contractor bid that blows people away pricing wise.. this is due to the fact that labor is a huge part of their bid. I’ll honestly say that this is one of the trades where working with a great painter really shows, so we don’t always recommend going with the ‘cheapest’ bid unless the person is well vetted.
OUR ADVICE:
Bid your project out with 3 different painters and ask about the size of their
crew – this will help you figure out their cost but also how long the project may take them.
BIGGEST TAKEAWAYS
1 RECOMMENDATIONS ARE EVERYTHING
Ask your friends or neighbors if they have a vendor or sub-contractor that they’ve enjoyed working with. I’ve learned that most people are willing to share their two cents after having gone through a great, so-so, or difficult experience themselves.
2 GET MULTIPLE BIDS
Do your due diligence and trust your gut. The building industry consists largely of a lot of small business owners, so you’ll want to feel very confident with your choice.
3 THINK HARD BUT DON'T SWEAT THE SMALL STUFF
There’s not a lot of glamour in construction – it’s expensive, takes a while, and puts control in a lot of different hands besides your own. Choosing a team that you feel confident in to handle the ups and downs will help maintain your sanity.