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4 Tips for Developing a Budget

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Budget. That word can be the source of anxiety for anyone remodeling or building their own home. But it doesn’t need to be that way. The designers at Cathers Home know that costs can be a hot button issue, so they’ve put together these tips to alleviate some of the stress associated with crunching the numbers.

 Developing a Budget

 1.  Start early. Knowing the overall budget at the outset will determine the general approach of the project. Spending $50,000 versus $500,000 is a huge difference in scope and will produce a dramatically different result. Letting your designers know your budget early on will help them to customize the design to your requirements.

2.  Ensure that your budget is realistic. TV shows don’t always give the whole picture when quoting home design costs.  Location, complexity and level of finish are factors Cathers designers will take into account. If there’s been home construction in your neighborhood recently, chat up the owner on your nightly walk.  They may explain some tips that will save you money in the long run.

3.  Plan for a contingency. On projects that involve many phases, contractors and materials, situations may arise that increase costs. From removing huge boulders underground to uncovering structural damage, unforeseen work has a habit of popping up. A 20% contingency budget will help deal with these items that are unknowable before the project begins.

4 Understand what you’re paying for. Permit fees, electrical diagrams, furniture, plumbing services—what’s included in the contract? Hard costs include the costs of construction materials and fixtures needed to build the structure. Soft costs cover fees for permits, consultants and trades. Having an idea of what is covered in the budget promotes peace of mind when considering upgrades or other changes.

The Cathers Team is your partner in developing a construction budget. They’ll keep your ideas in mind when developing the best financial plan for your construction project.  

The owner of a downtown Aspen residence had this to say about Cathers designers: “They came in under the budget we established, and offered up creative solutions to save even more. It was also nice to have many selections available – from furniture to artwork, to bedding – in many different price points.” 

Whether your project is one room or a whole house, the Cathers Home team will work with you to develop a reasonable budget that accomplishes your design goals and manages costs wisely.

 

 

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