Many people often ask us if they can do an addition on to their home for under 200k. Although, in some cases it may be difficult to stay within that budget, we are outlining 3 ways homeowners can make this a possibility!
1) Research and comparison shop Don’t rush into hiring a contractor. Do your homework and shop around for the most reliable and reasonable company. You want to make sure the job is done right and that you are not overpaying. But, keep in mind, that going with the cheapest company is not always the best idea. Don’t cut corners, where it really counts. You want someone to bring your vision to life, while staying on budget. If possible, get references from friends and family. Once you choose a contractor, discuss with them what materials, supplies and products will be needed and do some research. Spend some time looking into types of flooring, plumbing supplies, lighting, windows and trim that you are interested in. Avoid overspending by shopping around to compare and find the best prices. This step will also save the contractor a lot of time, which will, ultimately, save you a significant amount of money.
2) Stay Organized
Organization is key! Prior to hiring a contractor, decide exactly what it is you want done. An addition to your home is a big project and it must be well planned out. Talking to an architect or other professionals will help expedite the process and, it is much easier to get an accurate quote from a contractor if the details are ironed out. Once everything is in place, stick with the plan and try not to change your mind, as this will result in delays as well as increased costs. Remember …TIME IS MONEY!
3) Don’t focus on the fancy
Keep your eye on the big picture. An addition to your home will give you more useable space and improve the functionality of your home. As with any renovation, it is easy to get carried away with upgrades. If you are working with a tight budget, don’t lose sight of what’s important. Get the job done and leave the bells and whistles for another time. You can always add the fancy in, at a later date, when you have more money to spend.