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Construction projects can be daunting. The process of planning and executing a construction project is often confusing for homeowners, which means they end up spending more than they should on it. Thankfully, there are four simple steps that anyone can follow to ensure success when undertaking a construction project:
Create a Detailed Plan For Your Project
Determine Your Budget
Hire The Right Contractor
Set A Timeline
But what do these steps consist of exactly? In this article, we will cover each one in detail.
Create a Detailed Plan For Your Project
The first step in any home renovation project is to create a detailed plan. This also includes creating a goal for your end product, considering what you want your end product to look like in the future, and outlining all work that needs to be done as well as who will do it.
There are many things you could do yourself for your project, but it is important to leave the tasks that you're not comfortable completing to professionals to avoid costly mistakes.
In addition, there are local regulations that you should be informed about. Your contractor should be able to assist you if you have any questions or concerns, but it doesn't hurt to do your own research. Permits may be required depending on what changes you plan to make to your home. Getting these is crucial if you want to avoid fines.
This step should be completed 6+ months prior to the start of your project.
Determine Your Budget
Determining a budget and financing for your project is the next step in the four-part process. This may include estimating the cost for new or replacement materials, renovations, permits, etc. It's important to keep in mind that costs can change as your project progresses, which will require you to update your budget with any changes.
Next, determine how much you want to spend on each item on a list from top to bottom based on priority and dependability (i.e. external decks- high expense but low dependability; paint color- low expense but high dependability). This way, you can focus on one or two things at a time while completing the project.
As a rule-of-thumb, you should set aside at least 10% of your budget for any mishaps or unexpected expenses.
When it comes to financing, there are several options for your project. The key is finding a lender that works best for you and tailoring your loan package to suit your needs.
Ideally, your budget should be put together 3+ months prior to the start of your project.
Hire The Right Contractor
This is one of the most important steps in your project's success, so it is crucial you choose the right contractor.
There are several aspects to consider when choosing a contractor, including reputation and experience. You want a contractor who has done this before and has plenty of previous work to point to as an example of their work quality. Ask for references from other homeowners or inquire about projects your contractor has worked on in the past.
Another consideration is that they are licensed and insured. If they're not, then you could risk putting both yourself and your finances at risk by working with them.
As a side note, keep in mind that it is possible to hire several contractors for one job, but you should try to keep all of the work under one contractor and let them deal with the delegating process and time coordination. If this isn't possible, at least determine which contractor will be in charge to avoid conflict during your project completion.
To ensure everything goes smoothly, you should hire a contractor 2+ months prior to your project's start date.
Set A Timeline
Now that you have an idea of what you want to be done, you have built your team, and have figured out your budget, you can put it all on a timeline, but be sure to be strategic about it. If you are not careful with how you arrange your timeline, it may cost you a pretty penny, so here are a few things to consider:
Will you be ordering the materials or your contractor? If you are, when should you do it? Make sure to allow enough time for delivery.
Is it the holiday season? Many contractors take Christmas, New Year, and other holidays off, so be mindful of that.
Will you have enough time to clear the area that will be worked on? Sometimes you won't have to clear anything, but that just depends on the type of project.
Visualizing these steps chronologically is much easier on a physical calendar, so get yourself one, start marking important dates, and don't forget to account for some unexpected delays, giving yourself and your contractor some leeway.
This should be done 2+ months prior to your project's start date.
Sounds Difficult, But It Doesn't Have To Be
Planning a construction project can be difficult. There are so many things to consider, and it's easy to get overwhelmed with the process.
We've created this guide for you that walks you through 4 steps on how to plan your construction project in no time at all, but we're also here to help!
Nova Construction provides residential and commercial construction management services in Moses Lake, WA, and surrounding areas. Whether you're already informed or are just starting to do your research, we are here for you, & our goal is always to provide high-quality service. If you would like Nova Construction to assist you in your journey, please do not hesitate to reach out. To schedule a consultation give us a call at (509) 361-8697 or fill out our online form and we will reach out soon!
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