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Will I Go Over Budget?

We are back with more insights from, Right From the Start: Insights Into Building and Remodeling Your Custom Home. This week we discuss the importance of setting a realistic and workable budget. Hiring the right builder to keep your selections on track is essential to staying within your budget. Read below to learn more and be sure to check back next week for more insights.

Part One: Before You Build

Chapter 24: Will I Go Over Budget?

If you’re like most people, yes, you will probably go over your budget. On the way home from work, I occasionally stop at the grocery store just to pick up a couple of quick items. As I get out of the car, I’m thinking I’ll be in and out in five minutes.

Twenty minutes later, I’m standing in the checkout line, my arms filled with items I never intended to buy. The watermelon was on sale, the blueberries were a two-for-one special, there’s a new brand of chips that looks delicious, and on it goes.

Now with my arms and fingers filled with items, I’m wondering what I came here for in the first place. Oh yes, a gallon of milk and bananas! I have to set the items down and run back to the dairy department because I forgot the milk! Does any of this sound familiar? Most likely you’ve been there before. The same thing can happen with the new homebuilding process if you’re not careful.

As you shop for the latest and greatest appliances, you may find it enticing to upgrade. After all, it’s only another $840. And the carpet is only $2.00 more per square yard than your budget planned. Then you decide that you really need nicer plumbing fixtures, upgraded light fixtures, and so on. I’ve found that it doesn’t matter how high the budget is we help establish for our homeowners. If you’re not careful, you will quickly exceed your budget. If you have an appropriate electrical fixture allowance of $10,000, for example, and I increase it to $20,000, it’s still easy to overspend.

Here’s what I know: Even if we bumped up every budget by 30 percent, most people would spend more than their budget allowed.

BOTTOM LINE

Hire the right builder, establish a realistic workable budget, and then determine if you are, or are not, going to stay

Hours

Monday8:00AM - 4:30PM
Tuesday8:00AM - 4:30PM
Wednesday8:00AM - 4:30PM
Thursday8:00AM - 4:30PM
Friday8:00AM - 4:30PM
SaturdayCLOSED
SundayCLOSED

CONTACT US

/ keep in touch

Bob Michels Construction, Inc.

5959 Centerville Road,

Suite 250B,

North Oaks, MN 55127

Phone. 651-653-1210

Email. info@bmichels-const.com