How Budgets Get Blown

I ran into someone at my open house last Sunday who explained how their remodeling budget doubled: as the project unfolded and the contractor(s) suggested ways to improve the original plans — as well as correct problems that became apparent once the walls were opened up — the owners repeatedly found themselves saying, “Might as well.”

That’s why remodeling veterans advise “doubling the timetable and tripling the budget” (or is it the other way around?).

On the plus side, I have never seen so many contractors hungry for work, and bidding jobs aggressively.

It’s also the case that homes needing major remodeling are deeply discounted in today’s market.

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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