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6. Compare the price of remodeling with the cost of buying newYour house is your most important investment as well as the place you call home. Although you may love your house and neighborhood, check how much your addition would add to the value of your home. Creating a luxury home in a modest neighborhood may not make financial sense. A real estate agent or home appraiser can make a close estimate. If you can't recoup at least 75 percent of the cost when you sell, at least consider the advantages of buying another house with the space or features you need. It may well be a better investment to move rather than to add on.
7. Shop for materials yourself
You won't save much by trying to stockpile lumber, drywall, electrical wiring or other basic building materials. But when it comes to the finish materials -- carpeting, appliances, faucets, countertops, light fixtures -- your own footwork will pay off. Not only do you get exactly what you want, but you also can find bargains, especially if you start collecting these items well in advance. You can even plan to reuse a stylish old stove, distressed hardwood flooring or other items that add a creative touch to a room. But clear your decisions with your contractor; installation costs might be higher for unusual requests.
8. Don't overdo windows and skylights
Big windows and skylights can have a spectacular effect in a new addition, making it feel bright and cheery and offering great views. But more is not always better. Not only are windows and skylights expensive, but even energy-efficient ones will sharply increase your heating and cooling bills. Large skylights can make a room feel like a furnace in the summer! You may have to replace your air conditioner, heat pump or furnace with a larger one. Or perhaps add units to keep the room comfortable.
9. Avoid moving the plumbing or changing the foundation
You can't always avoid it, but any alteration to these two systems typically adds thousands to a remodeling project. Neither is simple. New plumbing often requires breaking into walls and floors; resizing lines to meet newer plumbing codes; and replacing old, out-of-date pipes. New foundations usually require excavation, concrete and other heavy, expensive work. The price jumps whenever you add these two items, so ask yourself if you really need to move the kitchen sink during a kitchen remodel, or if you really need the extra space in a bathroom bump-out.
10. Order over the Internet
Can't find a nice-looking low-voltage light fixture at a nearby home center? The Internet puts a wide selection of products at your fingertips. Even better, it gives you access to hard-to-find specialty items at competitive prices. Often you can save 40 to 50 percent over the list price.
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