When planning your home remodel, it’s easy to focus on the obvious expenses like materials and labor.
But savvy homeowners should know that a successful renovation involves more than just the basics.
At Laurelless, we believe in transparency and want our clients to be fully prepared for their home remodel journey.
Let’s explore some often-overlooked costs you should factor into your budget, with a special focus on what these might look like in Denver (our home base)!
One of the first hidden costs you’ll encounter in your home remodel is permit fees.
Many homeowners are surprised to learn that most significant renovations require building permits. These fees can vary widely depending on the scope of your project and your location.
In Denver, permit fees for a home remodel are calculated based on the project’s valuation. According to the City of Denver’s website, for residential projects valued between $2,001 and $500,000, the fee is $50 for the first $2,000 plus $9 for each additional $1,000 or fraction thereof.
For example, a $100,000 remodel would incur permit fees of approximately $934.
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Additionally, you may need specific permits for electrical, plumbing, or mechanical work. These can range from $50 to several hundred dollars each.
It’s crucial to factor these costs into your budget and understand that they’re non-negotiable – proper permitting ensures your home remodel is legal and up to code.
For extensive home remodel projects, you may need to temporarily relocate. This could mean staying with family, renting a short-term apartment, or even booking an extended hotel stay.
In Denver, this could be a significant expense.
According to recent data, the average monthly rent for a one-bedroom apartment in Denver is around $1,700. For a home remodel lasting 2-3 months, you could be looking at temporary housing costs of $3,400 to $5,100.
If you opt for a hotel, costs could be even higher, potentially reaching $4,000 to $6,000 per month for a comfortable extended-stay option.
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The home remodel industry isn’t immune to market fluctuations.
The cost of materials can change between your initial planning phase and the actual construction. Recent years have seen significant volatility in building material prices (particularly in lumber).
For example, in 2021, lumber prices in the U.S. saw unprecedented spikes, with costs rising by as much as 300% at certain points ๐คฏ. While prices have stabilized since then, the construction industry continues to face supply chain challenges that can impact material costs.
To protect yourself from these fluctuations, consider building a 10-15% buffer into your budget for materials (P.S. Any contractor with their salt will also account for those buffers in their quotes).
During a home remodel, you’ll likely need to clear out the spaces being renovated. Depending on your situation, renting a storage unit to keep your furniture and belongings safe during construction could become a necessity.
In Denver, the average cost for a 10×10 storage unit (suitable for the contents of a one-bedroom apartment) ranges from $100 to $200 per month. For larger homes or more extensive remodels, you might need a 10×20 unit, which can cost between $150 and $300 per month.
Also, consider the cost of moving your items to and from the storage facility – professional movers in Denver typically charge between $80 and $100 per hour.
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After your home remodel is complete, you might find that your existing furniture and decor no longer fit the new aesthetic or layout. Budget for new pieces that will complement your freshly renovated space. This could include everything from major furniture items to small decorative accents.
The cost for this can vary wildly depending on your taste and the size of your space. As a rough guide, you might budget anywhere from $5,000 to $20,000 or more to furnish a living room, and $3,000 to $10,000 for a bedroom.
Remember, you don’t have to buy everything at once. Consider prioritizing key pieces and adding others over time as your budget allows.
A home remodel generates a surprising amount of debris and waste, and dumpster rental/ disposal fees are often overlooked in initial budgets.
In Denver, the cost to rent a 20-yard dumpster (suitable for most medium-sized remodels) ranges from $350 to $550 for a week.
You’ll also need to consider permit fees to place the dumpster on a public street (if necessary).
Your contractor more than likely has relationships with a company that could result in better rates!
While not an immediate expense, it’s important to consider that a substantial home remodel can increase your property’s value.
This is generally good news, but it can lead to higher property taxes.
In Denver, property taxes are calculated based on the assessed value of your home.
As of 2023, the assessment rate for residential properties is 6.765% of the actual value.
For example, if your home remodel increases your property value by $100,000, you could see your annual property taxes increase by approximately $470.
These additional costs can seem daunting at first. But remember – they’re an investment in your home’s future value and your quality of life.
By planning for them upfront, you can avoid unpleasant surprises and ensure a smoother, more enjoyable renovation experience.
At Laurelless, we’re committed to helping our clients navigate every aspect of their renovation, including budgeting for these often-overlooked expenses!
Our Concierge Contracting Experience ensures that you’re informed and prepared at every step of your home remodel.
Ready to start your home remodel with a team that prioritizes transparency and comprehensive planning?
We proudly serve the Denver Metro Area, including Denver, Cherry Hills, Englewood, Arvada, and Aurora.
At Laurelless, we specialize in luxury remodeling and high-end construction projects, but we do not build custom homes. Our focus is on transforming existing properties into exquisite living spaces that exceed our clients’ expectations, delivering exceptional craftsmanship and personalized service every step of the way.
While we don’t undertake custom home builds (yet ๐), we are committed to providing unparalleled experiences and turning our clients’ visions into reality through our remodeling and construction expertise.
Yes, at Laurelless, we specialize in whole-home remodels and larger projects executed at a luxury scale.
While we don’t have a strict minimum budget requirement, our expertise and craftsmanship are best suited for projects that prioritize quality and excellence.
We specialize in whole-home remodels and larger-scale renovations executed at a luxury level.
We excel in transforming properties into exquisite living spaces, focusing on delivering unparalleled craftsmanship and exceptional quality in every project we undertake.
From revamping a kitchen or master suite to reimagining an entire house, Laurelless is dedicated to exceeding expectations and bringing your vision to life.
Then you’re our perfect client! ๐๐ป
At Laurelless, we specialize in guiding clients through the entire remodeling journey, from concept to completion.
Our full-service approach includes design consultation and Concierge Contracting services.
With our expertise in luxury remodeling and commitment to personalized service, we’ll collaborate with you every step of the way to create a home that exceeds your expectations, even if you’re starting with just a spark of an idea.
At Laurelless, we prioritize the safety and security of our clients and team members.
We maintain comprehensive insurance coverage, including General Liability (GL) Insurance and Workers’ Compensation Insurance, to protect against unforeseen events and ensure peace of mind throughout the remodeling process.
We collaborate exclusively with licensed and insured subcontractors who meet stringent quality and safety standards.
With our commitment to excellence and adherence to industry best practices, Laurelless ensures that every project is conducted with the utmost professionalism, integrity, and safety.
Yes! Laurelless isn’t your typical contractor – we’re creators of exceptional living spaces.
We offer comprehensive interior design services as part of our full-scope approach to remodeling and construction projects.
Through our Concierge Contracting model, we handle all aspects of the project, including design coordination and construction management, for a stress-free experience from start to finish.
Whether it’s selecting materials, choosing color palettes, or optimizing layout designs, our integrated approach ensures a cohesive and harmonious result that reflects our clients’ unique style and preferences.
The Concierge Contracting experience doesn’t end when the project is finished.
While we’re confident you’ll love the finished product, we understand that unforeseen issues sometimes arise.
If you discover something isn’t up the standard we promise, we want to hear about it asap. And we’ll make it right.
We provide comprehensive warranties to ensure that any post-remodel concerns are promptly addressed, giving you peace of mind long after the project is completed.
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Thank you for reaching out to Laurelless!
We’ve received your inquiry and will be in touch soon to discuss your project. Expect a seamless, high-touch experience from start to finish—we’re here to handle every detail so you don’t have to.
We look forward to bringing your vision to life!
Denver’s premier remodeling and design team, specializing in whole-home renovations, luxury kitchens, and custom spaces tailored to your lifestyle. From concept to completion, our Concierge Contracting approach ensures a seamless, stress-free experience with curated selections, precise project management, and exceptional craftsmanship. No delays, no surprises—just a beautifully executed remodel designed for the way you live.