Renovation Ready: Tackling Timelines and Budgets Like a Pro
Navigating through the budget maze and choosing from endless possibilities can be daunting in the smoothest of times. However, with the world grappling with a pandemic and supply chain woes, even the most eager renovators might feel overwhelmed.
Fortunately, some supply chain issues are easing, though others persist, affecting timelines and budgets. Don't let these obstacles dampen your enthusiasm or halt your renovation dreams. A clear understanding of the current economic landscape and strategic planning can make your home renovation journey smoother and more enjoyable.
Here are some essential tips to consider before you dive into your home renovation adventure.
Image Source: Pleysier Perkins
01. Dream big, plan bigger!… Start planning super early.
Renovations are taking longer than ever, while container prices and availability are finally normalizing, warehouse and truck driver shortage continues to complicate shipping logistics and lead times; containers sit in ports because there’s nowhere for the goods to go. This means things we need for our homes, like kitchen gadgets, door handles, and shower parts, are taking longer to arrive, like kitchen appliances, custom cabinets, and unique light fixtures, are taking longer to arrive, especially the parts made overseas.
Before you jump into making your home look new, write down everything that takes a long time to get and order them right away. This list could include high-demand items like energy-efficient windows, specialty flooring materials, and advanced home technology systems. Usually, you'd wait until all your design plans are ready, but now, you've got to be quick to make sure everything arrives on time. After you've placed your orders, keep checking in on them, writing down notes if you can.
Tackle supply chain snarls head-on by ordering your long-lead items early. Stay proactive, keep tabs, and watch your design dreams take flight—on time!
02. Budgeting with Buffers… Create a realistic budget.
Prepare for potential price surges and the odd re-selection to ensure smooth sailing. Companies are shelling out higher wages to retain talent…resulting in increased labor prices for consumers. Combine that with inflation, higher material prices, and backordered products and the cost of a renovation can be significantly higher than you anticipate. Allow extra room in your budget for re-selections, price hikes, and unexpected costs, too.
To keep your renovation journey smooth, it's smart to pad your budget. This means planning for the times you might have to choose something different if your original picks are too pricey or not available. It also means being ready for the cost of things to go up or for those surprise expenses that always seem to pop up.
Think about adding a "just in case" fund to your budget. This is money set aside for surprises like discovering old plumbing that needs replacing once walls are opened or materials that end up being more expensive than planned.
Adding this buffer helps you manage any renovation curveball, reducing stress and ensuring quality completion. Plus, we’re sharing a handy budgeting tool to help you track and adjust your spending, ensuring you stay on target while covering all bases. Use our tool to craft a budget that anticipates every scenario, keeping your renovation on track and within financial reach.
03. Service Charges… Anticipate some additional service charges.
Arriving later than expected? Those items taking their sweet time might incur unexpected service fees if they miss the contractor’s schedule. Keep a weather eye on the horizon for delivery delays and build a buffer into your budget for any additional docking fees.
For example, if a refrigerator or dishwasher is delivered months after the plumber and electrician have finished all of the other scheduled work, those trades may charge a service fee to return to complete the plumbing and electrical connections for this one item. (Additionally, if these items have integrated panels, the cabinet maker will also have to return for the installation). Being mindful of the delays will help ensure that these potential costs are factored into the project budget.
04. Crewing Your Vessel… Skilled pros in short supply?
Finding skilled labor is like spotting a lighthouse in a fog. Interior designers and architects can be your beacon, guiding you to trusted contractors. Network like a boss and get the best for your build. According to the U.S. Bureau of Labor Statistics, the number of construction laborers, carpenters, drywall and ceiling installers, plumbers, and painters has steadily decreased since 2018. The decline is due to a combination of an aging workforce of tradespeople and an insufficient number of newcomers—and the result is longer wait times for renovation projects and schedule delays. If you’re not already working with an interior designer or architect who can recommend trades, ask your friends and family who they’ve worked with—or pop into your local showrooms to ask for recommendations. Remember, the strength of your crew is paramount to a successful remodel.
05. Shop local… Support your community, save the planet. Win-win!
Are there any materials or products that can be sourced in your area? Sourcing items nearby is a great way to eliminate the headaches that come with ordering products fabricated overseas (and it’s more eco-minded, too). Buying vintage or rehabbed items, like antique doors, is an environmentally friendly way to add character to your home. Get creative and explore alternative options that have a smaller carbon footprint and no (or short) lead times to boot!
06. Hire a great design team… Why not hire a seasoned crew?
Charting the course alone? Why not hire a seasoned team? Their toolbox of tricks, trade allies, and top-notch taste means fewer flubs, more fab.
A strong design team is your compass to navigate through the tempest of trends and construction. There are many benefits to working with an interior designer and an architect—like creating a cohesive design vision and ensuring the renovation project runs smoothly, just to name two. Most have their go-to teams of contractors and preferred vendors, and one of the biggest perks is having access to this extensive network of trusted tradespeople. And costly mistakes can be avoided by working with professionals who understand the current design and construction landscape.
07. Patience Pays... Stay flexible and patient.
Finally, patience is the port in any storm. When your ideal materials are adrift at sea, be ready to set a new course with alternatives that are readily available. Flexibility can mean the difference between a prolonged project and one that docks gracefully and on time. Roll with the punches, pivot with poise, and keep your cool. Your patience now equals perfection later.
While planning ahead is essential, when those inevitable delays occur, stay calm, make the appropriate plans or revisions, and remember it’s all part of the process. It will be worth it when everything comes together.
