5 Renovation Tips to Save You Money!

home renovation torontoHere are some building tips that can help you reduce the cost of your kitchen, bathroom or extension:

1. Establish labour rates in advance: Labour rates need to be reasonable.  A builder may add a premium on top of extra labour that is brought in.  This makes sense given the added effort to manage that process – but it doesn’t need to be over the top.  Make sure you have an agreed labour rate for all types of skills; from painters and electricians right through to plumbers.  Be clear of what you are up for if any contingency hours are required.

2. Manage the quote process: There are key components that must be included in your quote.  If they are left off, insist that they are inserted and agreed upon.  Tips 4 to 10 will help you understand the ins and outs of the quote process so that you can protect yourself from costs blowing out on your renovation project.

3. Variations: Most variations can be quoted for before any work is completed. In the occasional case that work cannot be quoted, such as unforseen damaged pipes or termites, the variation needs to be quoted for properly.  Get a copy of any invoices of materials purchased plus labour at the agreed rate.  Expect a builder percentage for overheads and profit.

4. Exclusions: If you engage a builder, but remove certain items from the proposal to source elsewhere, be careful that the builder removes the ‘full cost’ of the exclusion from the quote.  Often builders can make money by having the exclusion – so beware.  If you are thinking of excluding an item during construction you should ask the builder to include what the credit amount would be in the contract prior to contract signing.

5. Inclusions: Make sure you insist that all requirements are included in the agreement to legally protect yourself throughout the process.  If your contract is in stages, make sure that both parties sign off each stage.

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