A whole-home remodel is a big check. Done right, it’s also the best money you’ll spend on the house. Done wrong, it stalls halfway through. Here are the five budget rules we share with every client before we draw up an estimate.
1. Pick a number you can actually live with
Not a stretch goal. Not the most you could pay if everything went perfectly. The number that lets you sleep at night if the project goes 15% over (which it often does on whole-home jobs). If that number is $300K, plan as if it’s $260K.
2. Hold back a real contingency
10–15% of total project cost, set aside, untouched. When we open up a wall and find knob-and-tube wiring or a leak that’s been quietly rotting joists, the contingency is what keeps the project moving instead of turning into a fight.
3. Decide your finishes up front
Tile, cabinets, countertops, plumbing fixtures, lighting, appliances. The further into the project you make these calls, the more they cost — both in dollars and in schedule delays.
4. Don’t chase the cheapest bid
If three contractors quote $250K, $290K, and $180K, the $180K bid is missing something. Either scope, or quality, or both. The cheapest bid almost always becomes the most expensive project.
5. Get it in writing
Scope, materials, allowances, schedule, payment terms. Everything. If a contractor won’t put it in writing, that’s the answer to whether you want to work with them.