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Budgeting for your Project

The excitement of a new project has a way of sweeping us away. We plan out the finishes, jump back and forth and what we need to outsource, try to wrap our minds around how long it will take… Budgeting is often whipped together without much effort or at all, and fails to include budgeting of time in the equation. While it’s never worth sweating the small stuff, taking the extra time to thoroughly research and plan out the keystone items will be well worth your efforts. We recommend a few below to get you started.

Define The Scope

It seems obvious, but put to paper what your intentions are. A written description, sketches or drawings and a detailed breakdown of each component will go a long way. For larger projects, or projects that are new to you, we of course recommend reaching out to local experts to guide you through the process (and, if you’re in Eastern Ontario, we’ll shamelessly plug our own services!). Experts can give you more realistic expectations when it comes to budget and scheduling too, making for a smoother and less stressful project.

When in Doubt, Go Bigger

If you’re toggling between whether or not to add that extra 10 sq ft to the deck or a little extra wiggle room to the vestibule of the new house you’re building, go big! The time and money you’ll save by intentionally allowing for growth early on rather than down the road not to mention the added enjoyment you’ll get out of the space that’s just the way you want it will be well worthwhile.

20% Contingency, At Least

Things come up unexpectedly. From discovering unfavourable goodies between the walls during a reno to material wastage, scope changes and supply chain problems, it’s rare that a project goes 100% as you expected. By setting aside at least 20% of your total budget to capture the unknowns, you’ll be more sheltered and ultimately happier with the final results knowing that you minimized compromise due to budgetary constraints.

However big or small your next project might be, plan ahead, plan for more than you need and make it the best you can for years of quality enjoyment.

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