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Budgeting for the Remodel
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Budgeting for the Remodel
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" We're about to look at----"
" Alright."
" We're about to look at the red ink both----. We had at the beginning of the job done in estimate or all the different categories of the remodeling here from demolition through masonry etc. And I guess the red ink means where we came an over budget----"
" Right."
" Over the allowed----."
" Right. And we also have a few items that came in under too, so."
" Well, that's nice to know."
" Anyway, red ink: 17,500 for carpentry that's 3500 more than the original [unk]."
" [unk] on this floor is conditioned."
" Yeah. And materials were over just like 691 dollars."
" They----they get to together."
" Plumbing was over by a few hundred bucks. The heating was over by 200. The installation was over by 100. Siding was 1800 dollars, that's 800 more than your estimate."
" Yeah, bad estimate on my part."
" And that's just the vinyl siding that we put on the back porches here."
" Right."
" Uhm, okay doors are right on and actually, your dry wall bill came in 300 dollars cheaper than expected. The kitchen cabinets are over by 248 dollars."
" But that includes our fancy bathroom vanity, so we're----"
" Oh, did you see that, that cost me a dime, yeah."
" [unk] I like that."
" Yeah. Then the carpeting and the closet doors and the shelving, all these things came in either on target or a couple of hundred below here and that's nice. The garden fence out front that pretty little fence, we'd allotted 450 bucks and it cost a thousand dollars to put it together."
" Right. It is that and the handrail just put more time than we thought to things."
" Uhm, uhm. And then the landscaping was just about 100 dollars----115 dollars over."
" For these 2 little Christmas trees if you want it."
" Oh the Alberta spruces?"
" Right."
" Yeah. And the masonry building doubled what we'd expected."
" That's 2 windows instead of 1 we put up."
" Oh, you break in 2 windows when we're really gonna break in 1 window."
" Right."
" So, it looks like including the basement slab, which was also at the price, we had planned on spending 64,000 bucks and we've spent 69,000. This is just on this unit down here."
" That's not bad."
" upstairs estimate was 24,150. We've come in at 25,883. It's 1700 dollars over and so the total on both floors is 95,578 dollars. That's not bad."
" Well, that's not bad. And under normal circumstances I think we would've take a look at this and say we've got a great, you know, I great price here. However, Bob you did ask me for a few little extras on the job and as any good contract I must give you the final, you know, [unk]."
" Tell me about the excess, yeah."
" Well, you ask me to put the shoji screen and----"
" Oh, yeah."
" and that security gate and we've got the painting the exterior and you wanted me to paint the back porch. You've got, you know, 200 or 400-500 dollar items, which all pull it up about 5600 bucks."
" 56."
" Which is not----which is not bad."
" 101,578. So we didn't quite make it on the target of 100,000 dollars. 101,578 dollars, I don't feel that."
" That's not bad."
" Now, the work has been done here."
