Why do remodeling projects fall through?
This spring we had several projects fall through for a variety of reasons. While we were sad to not carry out the projects, each cancelled project taught us a lesson. I wanted to pass on these lessons for your benefit.
Here are the three reasons our projects fell through:
The quote was too low
Decking materials add up quickly.
One project that unfortunately fell through was a new deck. We miscalculated our quote for the project and when it came time to order materials, we realized that our quote barely covered the cost of materials and didn’t leave enough room for labor or other overhead costs of running a business. This lesson was reinforced for me when I was listening to public radio last week and a fellow NARI member, Chad Speight, from Chad’s Design Build was on the Larry Meiller Show. He was talking about the wide range of quotes a homeowner might get for the same project. If a quote is significantly lower than the other quotes you received, it probably doesn’t include all of the potential costs you will need to cover the scope of work, and may even have some miscalculations in it. This was the first time this has happened to us. Ever since, we have been double checking all of our quote calculations and keeping a closer eye on fluctuating material prices.
2. Denied permits
Another project that we planned to build this spring was paused indefinitely. We were planning to build a roof over an existing deck, only to find out that it didn’t comply with the zoning regulations. Depending on the project and the municipality, there is typically a process to receive a zoning variance. In this case, the deck had already received a variance and there wasn’t much more we could do. The lesson we learned was to consult with the city and/or county zoning and local building inspectors early in the process, often before submitting a formal application. This is also something that homeowners can do before gathering quotes from remodeling companies. In our case both the homeowner and our team had gotten our hopes up and made some initial investments that ended up being sunk costs. This could have been prevented if we would’ve waited for the permit approval before purchasing any materials.
3. Life Happens
Circumstances can change quickly when you loose a job or welcome a new baby, sometimes remodeling needs to be put on hold.
There were another few clients this spring that had to cancel their projects due to life events outside of anyone’s control. Life happens and personal finances are heavily impacted by changes in employment, family composition, and economic uncertainty. When big things happen, remodeling can (and probably should) take the back seat. At the end of the day, we are in this business to improve people’s homes and make their design dreams a reality. We always want to center our work on our clients’ wellbeing. Even though projects may need to be put on hold for a while, we are still here and happy to jump back in when the timing is right.
We continue to learn lessons with every project we do, and even with the projects we ultimately don’t do. With each lesson we are better prepared to serve our clients and provide value to every project we take on. We aim to bring honesty, transparency, and compassion to every client and every project.
Reach out today to get started on your next remodeling project. Call us at (608) 535-7109 or fill out our online form to set up your estimate appointment.