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1. Set a budget that includes a contingency plan. Set aside a 10% minimum for cost overages. When people plan to spend their entire budget on the front end, they are not prepared for cost overruns. Overruns are more likely to occur on large projects like a custom home. Preparing ahead will help you avoid overspending and ensure you are financially prepared to complete the project.
2. Research your contractors carefully and choose one with a good reputation and a track record of quality work. Prior customers should speak highly of them: don't be afraid to ask.
3. Clear communication with your contractor is key to meeting your needs and expectations. Request regular updates on the project and plan to be actively involved in decision-making. Building is a dynamic process, so your consistent engagement is necessary to make informed decisions as they arise. Without this, contractors may make decisions they believe are best to keep the project moving forward. Your contractor should guide you when decisions are required, allowing you to make sound choices.
4. Being prepared for surprises and delays is essential. Home renovations often reveal hidden issues that need attention, so it's vital to be adaptable and patient. This directly impacts budget planning, ensuring you have the flexibility and decision-making ability when unexpected issues arise. Proper financial planning will keep you in control of your project.
5. Finally, don't be afraid to get creative and think outside the box regarding your home renovation or new build. Consider incorporating unique features or design elements to make your home stand out and reflect your style.
By following these tips, you can ensure that your custom home or renovation project succeeds. You want a beautiful and functional space that you'll love for years.
Read our article Don’t Devalue Your Custom Home Project on quality blueprints before purchasing. You can also print a PDF with the information. They are an imperative piece of the project, so it is critical not to cheap out on drawings.