It’s better to be safe than sorry, they always say. And whoever they are, they are right; especially when it comes to home remodels and renovations.

When deciding on a budget for home remodels and renovations, most forget to set aside some emergency money. You never know quite what you will find when tearing down walls or restructuring the layout of a home. There are plenty of unfortunate discoveries that can be made that will not only postpone your renovation process, but also cause you to stress over coming up with a way to pay for these costly repairs. Putting aside this emergency money will at least save you the financial stress if any complications were to occur.

To avoid another headache, familiarize yourself with these common costly problems that may be encountered during renovations:

Asbestos in the Kitchen

Image via Walls By Design

Asbestos is a group of minerals with thin microscopic fibers. These fibers are resistant to heat, fire and chemicals and do not conduct electricity. For this reason, it has been mined and used widely in the construction industry. Today, asbestos is commonly being found during kitchen remodels, generally in linoleum or vinyl tile floors. Other places may include inside thermal insulation, and on boilers and pipes as well as many other household materials.

It is now evident that prolonged exposure to asbestos fibers can lead to lung diseases and cancers. For this reason, it is imperative to have it removed as soon as it is discovered. An inspection prior to renovations would detect any sign of asbestos. If it is discovered upon renovation, though, it is advised not to take care of it yourself. Due to the many health risks of asbestos exposure, it is important to have asbestos removed by professionals.

Faulty Electrical Wiring

Outdated wiring is a main cause of electrical fires. If a home is over 20 years old, it may not have the wiring capabilities to handle the increased amount of electrical appliances in the average home today.

If you’re experiencing frequent dimming and flickering of lights or your breakers and fuses go out regularly, this may be due to faulty wiring. Many times, faulty electrical wiring does not come with side effects and you may not know until a serious problem or fire occur, or until you begin your renovation.

This is the perfect time to make sure that all electrical protocols are up to par so that you do not have to worry about the risk of a fire breaking out. Have a professional check your electrical wiring if you have any suspicions.

Load-Bearing Walls

Everyone likes to keep up with modern trends and that is no different when it comes to your home. Among the many contemporary elements of a modern home is the open floor concept. This plan involves rooms flowing into one another. Rather than being closed off by full walls and doors, this plan features half walls and visual dividers to create and open feel and interaction among separate rooms.

When renovating an older home in hopes of achieving the open floor concept, some walls will need to be torn down. It is important to identify a load-bearing wall during the design process. Load-bearing walls are essential in holding up the structure of the home and strictly cannot be moved. After discovering which walls can and which walls cannot be torn down, you can proceed with the design and renovation process.
Termites

Image via Red Beacon

Termites are considered the top threat to wood-based structures ahead of fire, flood and wind. According to the National Pest Management Association (NPMA), termites cost Americans more than $5 billion in damage annually.

Since these pests can be pricey, it is wise to consider inspections from time to time, especially when you’re planning renovations so that it does not catch you by surprise. From there, keep an eye out for signs of termite infestation in your home.

So now you’re prepared. Of course, there are chances that your renovation process will go smoothly and if so, you’re a lucky one! Now you can spend the emergency money on decorations for your new space or to reward yourself for a job well done. Either way, playing it safe pays off… literally!