Five Reasons Why Your Project Goes Over Budget

Not being realistic about what it costs.  When given a range of costs to expect, who doesn’t hear and remember the lower number and completely disregard the higher one?  In both remodels and new homes, just about everything is an unknown at the onset.  Even with a general contractor on board as part of the team from the beginning of design, each home is unique and there’s no way to know what it’s going to cost until everything is finally  bid and all the finishes are chosen.  That doesn’t mean that the professionals involved don’t have any idea of costs during the process, it just means there’s going to be a range  . . . which takes us back to the first sentence.
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Five Tips to Keep Your Project in Budget

 Start with the right budget.  Be realistic about your budget and honest with your construction professionals.  I’m not sure why people aren’t honest about their budgets with the people who are working very hard to help them make that budget.  I wonder if they feel that the same thing will cost less if they throw out a lower number?  Does that make any sense?  There’s no way to know which clients are holding back their real budget and which ones aren’t.  As an architect, it’s hard to watch clients adding items to an already tight budget, not knowing if they’re just getting the house they really want, and are prepared to pay for, or are pushing the whole project to the point of collapse.
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