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How to Estimate Remodeling Costs

Aug 17, 2007
The key to a successful remodel is to plan your pricing structure. If you don't know how much money you are going to be spending you cannot plan to get the job done. It is as simple as that. Pricing the different things that you need is not that hard to do but it can take a little time. And this is something that you need to do not only if you are remodeling your own home but also if you are considering purchasing a house to fix up and sell for a profit. In both of these situations it is vital that you know how much you will be spending.

Some jobs are going to cost more than others so careful planning is essential. It is also important that you do not forget to include a buffer. You need to have this cushion in case something goes wrong or over budget. This does usually happen so be prepared!

The best way to start with pricing things out is to take a leisurely walk through the home with a pad and pencil. Write down everything that you see that needs fixing or replacing. If it is in question at all then you should write it down. This will be a comprehensive list that will most likely take up pages of your pad but that is ok.

You should also consider writing everything down in order of importance. Those that are necessary to the remodeling should be made a priority. Other things that are not going to have a huge effect of the selling price should be relegated to the lower rungs of priority. You can wait to do this part until after you have your list written out if that would be easier for you.

You list should include things like:

Paint/wall paper-To cover over discolored and ugly walls
Plaster-To fix dents and holes in the walls
Lighting fixtures
Taps
Electrical outlets and plates
Mouldings
Tiles
Linoleum
Wood
Light switches
Counter tops
Cupboards
Windows and frames
Doors and frames
Carpeting
Plumbing fixtures
Electrical work
Railings
Insulation
Drywall

These are just a few of the things that you need to be looking for when it comes time for the fix up of any home. Don't forget to write down how many or how much of everything that you are going to need.

Once you have these things written down you can start looking into how much they cost. This is done easily online and from home. Just write the costs down and add it all up and voila! You have your estimate for remodeling or fixing up your home in terms of things to buy.
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