Michael Arthur: Before you renovate – find out how much it’s going to cost!

Michael Arthur

Michael Arthur

Don’t Know How Much Your Renovations Cost? Here’s A Solution!

by Michael Arthur

You are anxious and eager to complete an important renovation in your home. You realize that completing this project is an essential step towards increasing the value and appeal of your home. You recognize there are many building materials you need to buy to complete your renovation project. Unless you are a do-it-yourself renovator, you also need to find and hire a dependable contractor to complete the project. You are excited about this opportunity. However, there is one major problem you are concerned about – you do not know how much your renovation project will cost. Furthermore, you have no idea what you do not know how much your renovation project will cost your total budget for your renovation project will be. Now you are stuck and do not know what to do. As I have experienced in many renovation projects, ranging from converting basements into legal secondary-living suites to transforming kitchens and bathrooms, the costs can sometimes be quite excessive depending on the scope of the renovation project. When I faced expensive renovations, I needed to make some financial sacrifices which were quite challenging, to say the least.

Yes, it is true that contractors provide you with free estimates on the costs of your renovation project. However, some contractors mark up their costs when they provide you estimates to cover their own costs and make a reasonable profit. Therefore, you need to do your own due-diligence to understand what those costs are and avoid paying more than what it is necessary.

There is a solution that I discovered to help you estimate the total costs of your renovation project to determine an affordable budget that you can manage. OntarioContractors.com offers an on-line tool that provides estimated costs on all types of renovation projects through continuous feedback from various experienced contractors, builders, construction suppliers from the renovation, contracting, construction, building or the home building industry in Ontario.

This on-line tool is intended to help inform you, as a homeowner, about the approximate or estimated costs of completing all types of renovation projects. The costs listed in this tool are updated regularly. You can use this tool as a reference to compare the free estimates offered by contractors.

To find out more about this tool, visit: http://ontariocontractors.com/costs.htm

About the writer

Michael Arthur is a realtor with RE/MAX Core Realty Inc., who specializes in residential properties and leasing of commercial properties. He works with various clients that include first-time home buyers, real estate investors, business owners, renters, and homeowners who are going through life transitions, ranging from divorce to personal bankruptcy. He can be reached at (613) 890-SOLD (7653). Website: miketheagent.ca

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