How it helps
When designers and builders talk about cost, they’re usually talking about the construction costs. But this is only part of the cost of your project (typically 65-80%). Builders’ estimates typically won’t include things like Design, Permits, or Course of Construction Insurance. These are known as soft costs – it’s up to you, the owner, to plan and manage these costs. Estimates also often don’t include Landscaping and many Fixtures like Blinds, BBQs, etc that are very much part of completing your home. Your Cost Plan includes all these soft costs, as well as the ever-so-important Wishlist / Contingency. Utilizing your Cost Plan helps you get what you want – on budget.
Your Cost Plan is a list of ALL regular items involved in a new build or large renovation and the approximate cost of each category. Since you don’t yet have a design, it may not be an accurate estimate but it allows to design to a budget instead of budget a design. It can also be used to evaluate estimates from builders and evaluate alternatives. With a Cost Plan it’s easy to see how spending in one area requires saving in another. Used properly, your Cost Plan helps you plan, design, and manage your project successfully.
