When estimating the cost of home repairs, several factors should be taken into consideration, including the supplies needed to complete the repair and the cost of professional help. A cushion should be added to the repair budget in case unforeseen expenses arise. These funds might not be used during the home repair, but should be available to protect you from having to dig into savings or borrow money to complete a project. Online estimating calculators are helpful in budgeting for home repairs.
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Compile a list of supplies you need to buy. If you do not need to buy such items as drills, hammers, paint brushes, wrenches and other tools, do not include them on the list of supplies.
Write down supplies you need for preparation and cleanup. Home repairs often include preparing a room, area or surface before repairs can begin. Painting, for example, involves scraping painted surfaces and priming before painting can begin. Cleanup may include supplies not needed for the physical repair, such as chemicals to remove spilt paint.
Add up the cost for all supplies. Using the Internet or a local home improvement store, write down the cost of each item. Internet prices may be lower than those at a home improvement store, but shipping and handling costs will need to be added to the home repair estimate.
Increase the estimated cost of supplies by 10 to 20 per cent. Home repair budgets should always include a cushion for unexpected costs.
Consult a professional for a free estimate. After getting a rough estimate for home repairs, contact a local home improvement professional for a free consultation. Homeowners can use this bid as a guide to correct their own estimate. The detailed bid will often includes a breakdown of supplies and labour. Homeowners would use only the supplies estimate as a comparison amount.
Use an online calculator to estimate the cost of your repairs. Compare the online calculator results with the home repair estimates. As a second check, use these online calculators to verify the estimate reached is accurate.
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