A Project Budget

Develop a timetable, or schedule, in the same manner as your budget. Work with your "construction team" (designer or architect, loan officer, interior design specialist, general contractor, specialty materials supplier, etc.) to document your needs. Your timetable must include a realistic completion date, considering time for the design phase, permitting and construction. Identify periods of the year when certain construction projects are particularly appropriate or totally inappropriate (e.g., during a holiday season or roofing during periods of heavy rain/sleet/snow).

Many projects can and need to be phased into several stages of construction. A common reason for phasing a project is the lack of funds to complete the entire project at one time. While doing the whole job at once is often less expensive and less time consuming, phasing a project can work quite well if:

  • A good plan is developed for the entire project at the very beginning of the process. This can minimize the amount of work that has to be re-worked during a later phase.
  • Each phase is built in a manner that protects the structure. For example: we completed the exterior envelope of our cabin and have left some of the interior surfaces and cabinet work for a future date.
  • All the work by a single trade can be completed in a single phase of the project. For example: all the foundation work is performed at one time.

But the most important key to a successful project is good planing: detailed drawings and specifications and a good budget.