Plan better with home renovation and waterproofing budgets

Everyone knows an unplanned home renovation can quickly spiral out of control. This article equips you with the importance of budgeting, the key elements you must include while creating one, and how allocating some to waterproofing can save your home.

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A home renovation project is quite possibly one of the most exciting changes you could bring to your home. Through this project, the potential to transform your living space and experience comes to life. But before the demolition ends and the renovation begins, it's crucial to do two things—consult with an architect on the renovation design and establish a realistic and comprehensive budget. 

Here is how budgeting helps home renovation – 

1. Allocating specific amounts for materials, labour, and permits helps avoid burnout and delays 
    
2. Budgeting helps you differentiate essential elements from desirable, non-critical features  
    
3. A clear budget empowers you to compare quotes, negotiate better, and make informed choices  

With a budget in place well in advance, clear upper limits also facilitate cost-effective home renovations. 

Essential elements for your renovation budget
 

Now that the importance of budgeting is established, here are key elements you must include as a part of your home renovation budget to best retain renovation quality and desired results – 

• Demolition and disposal 
  
  This factor often comes as a surprise, but removing existing structures like walls or flooring often precedes the renovation itself.  
   
• Permits and inspections 
  
  Building permits are required for most renovations, and inspection preparations are costly. For accurate budgeting, make sure you include fees and inspection costs. 
   
• Materials 
  
  This is key to your budget. Everything from flooring and paint to fixtures and appliances must be considered through detailed supplier quotes, including overages. 
   
• Labour
  
  Labour distribution is key to home renovation management. It includes contractor, labour, and allowance costs. Since labour accounts for a large portion of the budget, make sure to get multiple project quotes that match your budget.  

In addition to these key elements, remember to account for unforeseen situations and keep a 10-15% buffer. 

The perks of including home waterproofing in the renovation budget 
 

When planning a home renovation, protection and safety are often secondary goals, whereas improving space and aesthetics take the front seat. However, protection against water intrusions must never be compromised during renovation. 

Poor installations and weather can cause water intrusions that damage your home's structure and quality of life. For this reason, allocating a portion of the budget to focus on robust home waterproofing is crucial. Here are the key advantages of doing so, 

• Save on bundling 
  
  Waterproofing during home renovation also saves you on repetitive labour and material costs. This way, your budgeting will stay effective even after the renovations. 
   
• Prevents costly repairs 
  
  Waterproofing shields your foundation, walls, and floors from moisture. By executing waterproofing during home renovation, you can avoid costly repairs down the road. 
   
• Increases home value 
  
  A well-waterproofed home is a healthy home. Potential buyers appreciate the value of a property that was thoughtfully renovated. 
   
• Enhances energy efficiency 
  
  Moisture buildup can compromise insulation, leading to higher energy bills. When you address waterproofing during home renovation, you will see savings on energy bills soon after the project is completed. 

While home renovation budgets help find balance, waterproofing helps extend the overall lifespan of your beloved home​.

Effective budgets protect homes 
 

Home renovations are a big task that can help accomplish big dreams. Budgeting ahead can also help you afford luxurious renovations. That said, it is crucial to prioritise protective improvements during your renovation, and waterproofing is a vital part of it.  

If you are looking for an estimate on waterproofing expenses, it's best to get help from experts like Dr. Fixit. Simply fill out the form given below to get a comprehensive consultation from Dr. Fixit. 

FAQs 
 

FAQ #1- Will waterproofing increase my home renovation expense? 
 

No, you can actually save on labour costs by clubbing renovation and home waterproofing. In fact, you will be able to choose premium waterproofing materials during the renovation, saving you from huge repair costs and preventing you from having to purchase waterproofing solutions separately later. 
 

FAQ #2- Why should I waterproof during my home renovation? 
 

It is easy to access important areas prone to water intrusions during renovations and waterproof them more thoroughly. After the construction phase, the best time to waterproof is during renovations. 
 

FAQ #3- What should I consider while preparing my home renovation budget? 

It is crucial to consider these factors in your budget, 

• Labour costs 
• Material costs 
• Inspection and permit costs 
• Demolition and disposal costs 

You should also consider a 10-15% buffer for unforeseen expenses.