Before starting any remodeling project, considering all the costs associated with a project is a must. Itemize the following expenses:
Permit fees
Check with your city's planning department for permit information.
Labor
Multiply wages by estimated hours. Don't forget to include payroll taxes and workers' compensation insurance if you are hiring help.
Tools
Include all tools and construction equipment needed for the job, from hammers and saws to cement mixers and tile cutters.
Safety equipment
This might include hard hats, dust masks, gloves, and goggles.
Materials
Any materials necessary for the project, including lumber, plumbing fixtures, flooring, cabinets, paint, insulation, tile, countertops, heating, and ventilation units.
Incidental Repairs
Any repairs that result from the remodeling job, such as patching the roof around new plumbing vents in a bathroom remodel.
Cleanup
This may include dump fees or trash bin rental.
Decorative enhancements
Include light fixtures, window coverings, and other specialty decor items.
Contractor's fees
Any fees charged by a general contractor or a specialized contractor such as an electrician. These could include fees for pulling a building permit or having plans drawn.
Unanticipated expenses
These may include upgrading standard electrical outlets to ground-fault circuit interrupters, for example.
