Looking to build a room addition, remodel your basement or build a home from scratch? No matter what you’re building, you need to know exactly what’s going into the project to ensure you keep the budget intact and defined throughout the building project. Use this list of hidden project costs to ensure you get it all in your budget. Who knows, it might even keep your sanity intact as well.
Not all home improvement projects involve materials and labor-sometimes it involves paperwork.
- · Utilities- Hook ups, fees and testing can cost a pretty penny.
- · Builders Compensation- Typically 10-15% of the overall cost of the project.
- · Commissions- Varies depending on who gets the money! Not all building projects spend money on commission.
- · Insurance- Homeowners, builders risk and workers compensation is a must for any building project.
- · Prints- Professional blueprints are required if you’re going to get a building permit.
- · Traffic Impacts- Not always necessary on smaller projects or interior projects.
- · Building Permit- Don’t get caught without one! Prices vary from hundreds to thousands of dollars.
- · Health Permit- Necessary for septics, wells, etc. Sometimes required when adding a bathroom or bedroom.
- · Soil Testing- A compaction test is necessary when fill dirt is brought in for a new slab.
- · Title Material and Labor- Not only do titles cost big bucks; they also cost money to have them filed with the state/county/city.
- · Allowances- When tile, trim and other fancy additions can easily make a budget go out of control; allowances provide a little extra cash to keep the budget intact.
- · Survey- You’ve got to have an accurate lot survey for any addition, remodel or new construction project.
Building Materials that won’t go into your Building
Some building materials won’t go into your new home, addition or remodel, but without them, your project will never get off of the ground.
- · Temporary Electric- This temporary power supply is a must have for new construction. Utility companies and electricians are both needed to install a T-pole.
- · Temporary Toilet- When you gotta go, you gotta go! In some areas, you can’t start a building project without setting up a portable toilet for construction workers.
- · Equipment Rental- Sometimes, equipment rental is necessary to get the job done right. Power tools, ladders, scaffold and heavy duty machinery are all cheaper to rent than to buy.
- · House Cleaning- Once the final project is completed; it needs a professional cleaning to remove all of the dirt, debris, stickers and non-building materials from the new building.
- · Concrete Pump- When existing structures make it impossible to drive a concrete truck up to the site, a concrete pump is needed to get the mud to the hole.
- · Crane- Trusses and other heavy building materials need to be crane lifted into place. Don’t forget to add in the price of a crane when adding trusses to your project.
More Home Improvement Articles from Eric Brennan
Will a Steam Shower Be Best for My New Bathroom?
How to Mix Concrete
Home Improvement Maintenance No-No’s