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How safe is your Home Extension Project from Spiralling costs?

If you are planning, or have started a Home Extension or Refurbishment project, this is a question you really should be asking. Almost everyone has a budget, a sum of money that they can spend and for most people this is more or less fixed. Any significant increase in costs will have a serious effect on the project , maybe even meaning it cannot be finished.

Almost all construction projects cost more than expected. This is true whether it is the new runway at Heathrow or your new kitchen extension. That is why a sensible person will always have a contingency fund, to cover those costs which could not have been forseen.

But what about the main budget? How safe is that? Because if that is not as well controlled as it should be, you better have a very large contingency fund, or very deep pockets indeed. 

It always amazes me, how some people rely on the builder to control the costs. Just because they have an " estimate "  or even a " quote ", it is almost certain that there will be enough vague wording to give any  builder the scope to ask for more money, under the guse of " we didnt include for that"!! After all, it is in the builders interests to get paid as much as possible for the work. It is not his job to worry about where the money is coming from, and if you were not precise about exactly what he should have included, then he is well within his rights to ask for extra money for any work outside of the quote.

So what can you do, to ensure that this doesn't happen? How can you make sure the " quote " includes everything that could reasonably be forseen, from the start, so there are no nasty surprises? How can you protect your budget and get your project finished?

Well if you do some research, you will find advice such as " always get at least three quotes ". " Always get recommendations from friends and colleagues ". " Ask to see other work the builder has done " and so on. All reasonable advice and nothing anywhere that actually shows you what to do, to manage the budget and achieve the result you want. Accepted wisdom is that in order to manage the project and the budget, you need to employ a Project Manager. However, in the real world, for most domestic projects, the costs of employing a professional will never be covered by any savings made.

Well that has now changed as here at The Project Master, we will show you exactly how to successfully manage your project and protect your budget. You dont need any prior knowledge of Project Management, or even construction. We will take you through the steps necessary to build an accurate schedule of works, which the builder can then price, knowing that everything that could reasonably be forseen, is covered. We will show you how to prepare and run a payment schedule, which will ensure you only pay for works that have been done. We will provide you with the templates for managing any extra costs, in an organised and controlled way, so you can take the decision before committing to the cost.

So you can ensure you get the project you want, for the price you can afford, and that, in the end, is what you really want, isn't it?