Avoid the remodeling project snowball

One of the most common fears of remodeling is a project snowballing out of control.

It is true that when remodeling there will always be unforeseen items that will impact the budget.

Most situations can be anticipated by working with architects and contractors experienced in the remodeling process, but surprises can be lurking behind sheetrock or plaster.

Factoring into your budget a contingency fund (we recommend 5 percent to 10 percent of your projected project cost as a reasonable amount) is critical to minimize stress during the construction stage and to make sure that the last phases of your project (window coverings, furniture, landscaping, etc.) are able to be completed.

So why do people run out of money before they run out of project?

A remodeling project snowballs for several reasons:

The first reason is the homeowner gets a case of the "while we are at its."

It obviously changes the dynamic of the budget when what starts out as a simple kitchen remodel turns into a whole house overhaul.

While it is tempting to move into different parts of the house "while you are at it," each decision needs to be made in light of your total project budget.

Unless money is no object, funds spent up front are generally not available later on in the process.

Planning really does pay off.

The more specific you are in what you want in the planning and design phase, the more accurate your drawings (and therefore your bid) will be and the more efficiently the work can be completed.

Your contractor plans the sequence of your project. He schedules subcontractors to come in at specific times to do their portion of the work.

If you decide you want an additional light fixture after the electrician has wired the rest of the project, it is going to cost you more money for that light, as well as more time to complete the project.

The attitude of "we'll just figure it out as we go along" is a sure recipe for snowballing and will undoubtedly cost you both time and money.

Incomplete drawings leave holes in the plans that will lead to costly change orders. It is not uncommon to hear of situations where homeowners bid their project without complete drawings and specifications, with the consequence of tens of thousands of dollars in change orders being equally common.