Homeowner's Ask
November 24, 2017
Soft Costs in Construction
Hi Russ, we are preparing to build our new home and wondered if you could help educate us on what costs to expect outside of the estimate from you. – ML
Considering a new home or renovation project? Be sure to factor in some soft costs you might encounter that don’t come through your builder. We’ve listed the most common ones to help you with your planning.
BC Hydro
- More electricity is used during construction which can increase your hydro bill
- Watch for power line connection and disconnection charges on your account
Insurance
- Your house insurance is meant to be changed during a renovation due to increased activity, dangerous tools, heaters and other equipment being used in construction
Loans, Interests and Taxes
- Loan generated interest
- Bank transaction charges
- Mortgage broker fees
- Accounting fees
- Taxes
Move In / Move Out / Lodging
- Hotels or temporary lodging
- Restaurant expenses
- Increased fuel usage if traveling from a further distance
- Occasional time away from work to engage with the project
Other Fees
Interactive Construction includes more than just putting nails into a house when pricing a job, so you may find these items in your planning estimate from us. You might not see these costs in a typical construction estimate, but most are usually required to complete the process.
- Plan creation & design
- Building permits
- Other municipal fees (new water main, sewer main, etc.)
- Engineering (Structural, Geotechnical)
- Variances that may be required
- Land surveys
- Hazardous materials testing that may be required
And let’s not forget the budget you’ll need for that big house warming party!
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About the Author
Russ started in the construction industry at an early age and worked his way up steadily ever since. After 5 years of renovation experience, he spent 10 years with a luxury home builder in Victoria as site foreman. Always looking for a new challenge and opportunity for growth, starting Interactive Construction was the next logical step in his career. Running Interactive allows Russ to combine his extensive construction experience with his computer programming expertise. This combination has helped build a company that offers state of the art project management coupled with high-quality home construction.
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Angelina Mathew Says :
Hi Russ,
That was indeed an informative blog post. We were planing to renovate our home. Never thought about these extra expenses. Thanks for sharing this.
Regards
Angelina
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Tashina Belback Says :
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John G. Ania Says :
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