Remodel budget

[disney obsessed]

Do you think there is anyone out there that actually came in on budget with a remodel/update?

[Janmac]

Not quite the same thing: I used to work at a civil engineering firm mainly involving road projects. We were constantly processing change orders from the contractors. Of course, weather was a big factor - contractors can't help it if there's a rainy spell and the dirt's too wet to work. But still, sometimes we'd just wish something would go according to plan.

I don't think we were ever involved with a contract that wasn't over budget for one reason or another. Some worse than others. And some contractors were worse.

While it's not the same as a house remodel, probably a lot of the same factors play a part.

Jan

[TheDuckRocks]

I have a friend who has always said if you change a light blub you better have a spare $500. More light you see the paint looks like it needs a new coat, while you're at it might as well change the color. Oh, oh now the towels don't match. Doesn't that look nice, but wait a minute maybe a new new light fixture would be better now. Etc., etc.
No, I don't think remodeling projects come in on budget. We always figure we need to have an extra 20%.

[Ed]

We are constantly in the process of changing something around the house. We usually spend weeks to carefully do all our pre-planning - - picking out exactly what we need for the project, such as paint, flooring, cabinets, furniture, etc. - - and narrow down the possibilities to the eventual winner. Then we do up a spreadsheet covering all the costs, including shipping/tax/etc., add in a 20% "contingency" figure and finally reach a bottom line. :thumbsup:

Then we multiply the bottom line by 3, and we usually come in just a few dollars "under budget". :spend:

:D

[disney obsessed]

Funny!

[Ian]

The last home remodel project we did was to finish off our fourth floor loft into a new playroom for the kiddies (it's now slowing transforming into my oldest DD's bedroom since the twins were born).

We had contractors out to bid the job and the best one came in at around $9,500.

Final bill? $15,000. :crying:

[DizneyRox]

The last home remodel project we did was to finish off our fourth floor loft into a new playroom for the kiddies (it's now slowing transforming into my oldest DD's bedroom since the twins were born).

We had contractors out to bid the job and the best one came in at around $9,500.

Final bill? $15,000. :crying:
My rule of thumb is throw out the high and the low bids and pick one from the rest. Reasoning is, the low bid is probably just to drum up business. High bid is just a hail mary to see if you'll bite. If they all come in together,t hen you're probably looking at a more real number. Add 20% for incidentals.

[azdisneymom]

I must admit DH is very good at this sort of thing. We remodeled our kitchen a couple years ago, granite, appliances and tumbled marble backspash. Everything was completed within a week of accepting bids. We actually came in under budget because we got great deals on the the appliances.

He has always told me that one should expect anything related to construction to take longer and cost more than expected. We have had a couple remodels and he always stays within our budget. Not sure how he manages but I am glad.