It can be difficult for homebuilders and remodelers to plan, budget and predict how much money they will spend on their construction project. Even with the best planning, the unexpected can take you off budget.
It can be helpful to set aside an additional 20% of your overall budget and put it in an account ONLY for emergencies or the unexpected.
If you don’t use the additional 20% you could add it to your savings, it could be a first payment on your loan, money for another project or save it for a rainy day.
Leave a Reply