DiamanteBlu
Ideal_Rock
- Joined
- Jul 12, 2005
- Messages
- 2,501
Hey Rainwood,Date: 4/14/2009 6:14:31 PM
Author: rainwood
I''ve been advising people involved in construction projects for over 25 years, and we''ve also DIY remodeled and had a custom home built. Here''s my rule of thumb which no one believes until they''re done building their house:
Before you ever have a building plan or even start schematic drawings, figure out the absolute MOST money you''d ever be willing to spend on building a house. Then double it. That''s how much you will ACTUALLY spend.
DITTO DITTO DITTODate: 4/14/2009 6:14:31 PM
Author: rainwood
I''ve been advising people involved in construction projects for over 25 years, and we''ve also DIY remodeled and had a custom home built. Here''s my rule of thumb which no one believes until they''re done building their house:
Before you ever have a building plan or even start schematic drawings, figure out the absolute MOST money you''d ever be willing to spend on building a house. Then double it. That''s how much you will ACTUALLY spend.
Thanks for the tip, RainwoodDate: 4/14/2009 9:41:45 PM
Author: rainwood
Purr - Yes, projects can come in close to budget and we did it too if you count what the budget was when drawings were finished. It''s the early stages where people don''t usually have a good idea what the project will actually cost. And lots of people go crazy with elective change orders once construction starts. That definitely takes discipline.
Got2Goldens - I do think that even on smaller projects it''s really easy to underestimate what things are going to cost in the early stages. Then there''s the ''while we''re at it'' syndrome where the project keeps expanding. And whenever you''re remodeling, there''s always the possibility that you find surprises once you start the work. Every project should have a 10% contingency reserve at the start of construction.
Ditto, PLUS 20%Date: 4/14/2009 6:14:31 PM
Author: rainwood
I''ve been advising people involved in construction projects for over 25 years, and we''ve also DIY remodeled and had a custom home built. Here''s my rule of thumb which no one believes until they''re done building their house:
Before you ever have a building plan or even start schematic drawings, figure out the absolute MOST money you''d ever be willing to spend on building a house. Then double it. That''s how much you will ACTUALLY spend.