All homeowners start with a design build remodeling project budget. How is that amount determined? How will it equate to the actual project investment? These are the questions that surround almost every planned home renovation.
What factors play a part in determining the three different project design plans that Design Build Planners creates? We call it the “Three D’s”
- DESIRE: What a client wants, from their needs to the their wish list. This information is gathered through discussions, DBP project profile checklists, and the client’s ideabooks from Houzz.
- DOLLARS: What funds are available? This is a combination of what they want to spend, what cash they have available, and/or what they can spend through various financing options.
- DEMOGRAPHICS: DBP is mindful of home values in the neighborhood as not to greatly over-improve.
These three components often do not equal each other. Many clients want a project scope and a level of detail that will far exceed their planned budget. As Project Designers, it is DBP’s function to offer a balance of plans with options and variables. From there, our clients can select the design features they like, the work scope they need, and agree on an investment amount in one inclusive project design and development package. CLICK HERE to view what Design Build Planners offers a homeowner planning a project.
As far as over-improving a home in a neighborhood, the concern and impact lessens with the longer period the family intends to stay in the home. Resale becomes less of a factor and quality of life decisions supersede. You can read more of Design Build Planners thoughts on our Move or Improve blog.
An extreme example, but worth mentioning, DBP has a client in New Jersey that ordered three major projects over four years from our designs. These projects totaled approximately $850,000 for their previously $600K valued home which was typical of the others in the neighborhood. They went into these projects well aware that they would not get a return on their investment. They love the neighborhood, they are close to family and they greatly value the enjoyment and quality of life that the finished home now provides.
You can also review the DBP estimated project investment page to get some ideas of project pricing. CLICK HERE to research common home remodeling projects.
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