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Tips for Staying on Budget
Be Realistic About the Cost of Each Stage
Be sure your final plan includes a breakdown of each stage of construction. Also, line-item costs within that stage, as close as you can get to the final penny. It may be tempting to do a quick online search of national averages. Remember the cost of labor and materials may be different in your area, and survey data is often published a year after the fact.
Find the most updated data and prices based on your location by evaluating competing bids. Ask around about recent nearby builds. Also, talk to designers and tradespeople who understand real-life costs.
Choose Finishes Before Breaking Ground
The more you dive into the nitty-gritty of choosing finishes before you begin construction, the less likely you’ll be to run into budget overruns. This may seem, tedious, but it is worth it.
National Association of Home Builders, interior finishes says to take the biggest chunk out of your total building budget. Planning for every penny down to the last bathroom tile and kitchen faucet means no budget-busting surprises. Also, you can immediately rule out where you need to tighten your budget and where you can splurge.
