Tips That Keep Your Project Budget Under Control
If you’ve watched any of those renovation shows on TV, you’ll be familiar with the following scenario. Someone is tearing down drywall when a very expensive issue is revealed. This budget-busting problem means sacrifices will have to be made in order to keep the budget intact. Sound familiar? While unexpected surprises can be a part of any build, we do have some tips for you, as the client, to help keep your project budget under control.
Plan, Plan, and Plan Some More
Before getting into a project with a contractor, make sure you have fully developed your plans for the space. Think about your needs now, and in the future. Once the build gets going, if you decide to make major changes to the scope of work, it may cost you significant time and money. Get into details like narrowing down material or color choices – this will prevent delays due to decision-making down the road.
The early stages of pre-construction are some of the most critical, so use this time to communicate clearly. What are your expectations? What are your goals? Really spend time making sure your contractor understands your vision. Misunderstandings are a common reason budgets get blown.
In addition, your contractor may communicate to you that you can’t fit everything you want into the budget you’ve set. You may have to accept some compromises. An experienced contractor will be well-versed in options and can still help you achieve the overall look you want.
Make Sure You Have Some Padding In Your Project Budget
Unexpected things DO happen, even with proper planning and communication. That’s why we always recommend you have some money set aside in reserve in the event that we discover an issue that has to be corrected in order to complete the project.
Are you thinking about a residential or commercial building project? Let us help! We are happy to sit down for a consultation and discuss your ideas.
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