The Three Little Pigs (and Construction Budgeting)

 

There are 4 main components to construction budgeting:  time, scope, quality and money.

Time: small projects like bathroom and kitchen remodels tend to take 4-6 weeks, medium size residential additions about 4 months, office remodel 3 months, new small commercial building or medium sized house about 6 months. If you want to accelerate the time frame you will pay more while you decrease the inconvenience of the construction intrusion.

Scope: What the project hopes to accomplish: the amount and type of work to be done, the bells and whistles too.

Quality: Seriously, think back to the Three Little Pigs, there’s a good reason the last piggy’s house remains. They planned more, they built a stronger house, probably spent more, they checked out the wolf situation.

Money: here’s a simplified approach, useful for quick thumbnail estimates of residential houses in this area: (1) measure the area of the work in order to identify the total amount of square footage (2) break the work into the following square footage categories- a) new @ $200-350/ s.f. (b) heavy renovation @ $150-225/s.f. (c) medium-light renovation @ $50-150/ s.f. (d) multiply the site area x $2/s.f ….total each category and you’ll be in the ballpark-ok it’s a big ballpark.

The secret is in getting the best value. Making your money go further, look better, last longer-that’s why you should give us a call. Now! Mention the Three Little Pigs and get 2 free hours of design services free through March 2014.

A few a la carte items:  Upgrade 200 amp electrical panel- $2500, new 4 ton hydro air ducted HVAC system-$10,000, repaint 3000 sf house exterior $20,000, new wood floors $11/sf., re-plumb 3 fixture bathroom $3000, outlets $85 each.

We also advise our customers to keep a contingency budget of 10% above the expected costs for hidden conditions, extra work, and changes.  Additionally it’s a good practice to allow 15% extra time in your mind (even if you do not share that with your contractors).

Let’s talk – 914 674 2950-ask for Steve.

A bid evaluation chart to try and compare apples to apples-