A solid budget with reserves is essential to any home project
(July 11, 2024) — Construction project budgets are not for the timid.
Anyone who has taken a tour through Home Depot or Lowe’s would agree that as you start to build a project material list, that bottom line has the potential to grow quickly.
Weekend warrior projects are the best. A gallon of paint and a new piece of art or furniture for the guest bedroom. A new chandelier, sconces and drapery in the dining room. Or a new pullout faucet in the kitchen. Projects like this end with immediate gratification and the budgets, for the most part, are easy to digest.
But some construction projects are quite a bit more involved. So before you start to purge that overstuffed guest bedroom closet where your new home gym with sauna will be installed, it’s important to think through the process and really focus on your budget.
The move out
Construction projects can be disrupting. More often than not, they will completely inconvenience your way of life. Temporarily, yes, but nonetheless, the project will add some chaos to your schedule.
You have two options: Live in another part of your home while work is being done, maybe even investing in a pair of noise-canceling headphones, or vacate the premises. If you choose to move out, that cost should be part of the construction budget.
This situation requires a frank conversation with the contractor about the length of time the job will take, and this feedback can’t be sugar-coated. But moving out of your residence should help the project move along at a consistent rate, so the contractor and crew can focus on the work – and not about keeping your belongings safe and sound.
The what ifs
Construction projects usually predetermine every detail, but unexpected situations do come up and must be resolved before any work can continue. This could be finding a header inside a wall that is not properly supported or plumbing that should be reworked to avoid leaking down the road. You might find electrical wires are too short to relocate a sconce or an electrical outlet. Necessary foundation work might also be a surprise after viewing the subfloor.
These are just a handful of “what ifs?” that can be discovered when opening up walls and taking down ceilings. Therefore, the budget must have wiggle room. Reserving additional funds will set you and your design team up to take care of issues as they surface.
Scope creep
In this same breath, it’s also important to recognize “scope creep.” As your project moves along, you may see a design detail in a friend’s home, a hotel or even a magazine that you hadn’t considered during the planning process.
Evolution of a project is completely natural. Given your investment in time and money, do it once and do it right.
If you want to change a design detail, it’s best to request a change order with your contractor. This ensures that the potential change is within your budget and doable.
For example, a change order might not make the most sense if the contractor is too far along on the project. But if the change order comes at a time when the contractor can make a smooth transition, it makes sense to move forward.
Change orders are an official change to the budget and can affect the timeline. Scope creep is OK as long as you are aware of and approve what it will do to the overall scope of the project.
You should create a budget for any size construction project and discuss it openly with your design and build team. If everyone is on the same page, there is little room for misunderstandings.
Contractors know what is required for a project and the associated labor. Designers know where to source decorative items and building products. So between the two, you have a winning combination for a project completed within your budget and the eternal goal – on time.
Contact Jennifer Leischer with questions, comments and suggestions at jenna@j-designs.com.
Jennifer Leischer
Jennifer Leischer is the owner of J. Designs Interior Design based in Clayton, CA. Combining a public relations degree from California State University, Chico, with further studies in design and interior architecture at the University of California, Berkeley, Jennifer began her career as an interior designer in 1998, working for various firms in San Francisco and Orinda, and Denver, Colorado. She describes every designing moment, throughout her career, as a wonderful tutorial about the importance of relationships, open communication, and getting down to the basics of functional, yet stylish, living spaces.