How to Budget Your Project (Simple Guide)
Short version:
Pick the scope. Choose the quality level. Set an all-in budget. Keep a cushion. That’s it.
1) Set the scope
Write this down:
Spaces: which rooms.
Work type: refresh, remodel, or new build.
What moves: walls, windows, plumbing, electrical.
If scope keeps changing, the budget will keep changing.
2) Choose the quality level
Good (clean, durable)
Better (mix of custom + ready-made)
Best (custom details, premium finishes)
3) Make an all-in budget
Your total budget should include:
Construction (labor, materials, site prep, GC overhead & profit)
Professional fees (architect, engineering, interior designer)
Permits & approvals (city, HOA)
Insurance & logistics (builder’s risk if needed, freight, storage, dumpsters)
Sales tax
FF&E (furniture, rugs, window treatments, art)
Cushion (contingency for surprises)
4) Neighborhood reality check (set a ceiling)
Find 3–5 nearby, recent sales that match your plan (remodeled or new build).
Take the median price per square foot and multiply by your square footage.
Subtract your current value. That difference is a smart ceiling for your spend.
Keep a cushion inside that ceiling (bigger for remodels, smaller for new builds).
5) Keep it on track
One scope owner.
Decide early (real products, not “TBD”).
Get apples-to-apples bids.
Weekly 30-minute check-ins.
Protect long-lead items (windows, cabinets, stone, plumbing, lighting).
One-page worksheet (copy/paste)
Scope:
Rooms: ____ • Work type: ____ • Moves: ____
All-in budget:
Construction (incl. GC O&P): $ ____
Professional fees (Arch/Eng/ID): $ ____
Permits & approvals: $ ____
Insurance & logistics: $ ____
Sales tax: $ ____
FF&E: $ ____
Cushion: $ ____
Total: $ ____
Milestones & dates: ____