Whether you’re considering a major overhaul of your home or simply a minor upgrade, you have to time it right. With the proper timing, you will have a higher degree of convenience and a more thorough sense of accomplishment. You can even save money or reduce the amount of time it takes to complete your project. So how does timing affect your home remodel expenses?
Professional fees
If you’re getting contractors to do the remodel, peak periods in the year could cost you considerably more. Professionals have times in the year during which they are fully booked. This is typically during the summer, as the fair weather is conducive for construction. Their rates are likely to be higher at these times.
You should rather look for the dates when their schedules are relatively free. Firstly, this will let you save more on fees. Additionally, it ensures that they are able to focus on your project, which saves time. And as you know, time has its own value. Completing the remodel in the least possible amount of time has many benefits.
Cost of materials
Of course, it’s not just labor costs that can be affected by timing. Material costs can also change depending on certain times of the year. If it’s only for a couple of smaller items, this doesn’t really matter. However, if you’re planning anything relatively major, these increases in prices will eventually add up.
What’s more, certain big-picture events currently happening can affect supply chains and make purchasing more expensive. Or worse—what you need may simply be out of stock and not available from your local suppliers. In such cases, you won’t have a choice but to spring for a more expensive supply or find a less desirable alternative.
Potential return
Some people will be renovating their homes with an eye towards selling. If so, your focus on the costs and timing might be different. Deciding on which parts of the house to remodel will hinge on how you can best improve your home’s value. Committing to the costs of a remodel can also be easier if you know you’re focusing on selling the property.
For the reasons outlined above, if you’re planning on putting up your home for sale, it’s best to get the remodel done during off-peak times. As we mentioned, materials and labor will cost less during such periods. More importantly, you’ll have a greater chance to finish the project in time for a more lucrative sale. You’ll want to get it done by late spring up to early summertime. Those are the times you will have the best returns, according to research.
Additional costs may be worth it if you can get maximum value for your property if you are aiming to sell. If not, it might be better to consider a shift in your timetable to better manage the costs of your remodel.
Of course, not all plans go exactly the way one hopes. It often happens that glitches arise causing things to go wrong. The same goes for home remodeling. Delays throw off your process, and in the worst case, can impact your bottom line. That’s why a solid plan is important from the get-go. Factoring in potential delays could help streamline your process and give you more wiggle room to adapt. Knowing when to pull the trigger on your planned home remodel can make or break your budget. Timing the process well can help you save money and give you the best possible return.