This topic follows up an earlier article “Design - Start with a Goal and a List” from the November Newsletter - No Better Time to Start your Building Plans.
Moving from your “wish list” to developing a budget is when dreams meet reality or when the rubber meets the road and when many people may become discouraged. Many people are shocked to find out the 600 sq foot addition they’ve been dreaming about may cost as much and take as long to build as it did their split level Kelowna special did 25 years ago. Read more …
Can I suggest that when thinking about renovating or building your dream home you keep in mind the quality – quantity – cost – triangle. This is a project management term that was made popular by Sarah Susanka author of the “Not so Big House series”.
In short, Sarah suggests that after a “wish list” has been created, take a piece of paper and draw a triangle and at each corner place a circle with quality, quantity and cost in each one. Write a dollar amount that you set as your bench-mark in the centre of the triangle. If your budget is fixed then quality or quantity will have to give. If you are planning on keeping your home for some time then Quality may override Quantity, which may result in a down scaling the scope of the project or phasing it.
Keeping this triangle in mind will also help you stay focused on the budget and ultimate goal. It can be very tempting during the build phase to splurge on one item and then find you have to cheap out on your finishes or landscaping to stay within budget.
So remember – one of the three will have to give to achieve your dream:
Cost – how much are you willing to spend to accomplish your dream? Can you do some of the work to help the bottom line?
Quantity – how much space do your really need? Can you spare a square?
Quality – what are you willing to sacrifice or are you willing to risk quality by cutting costs. Will quality be sacrificed if you do the job yourself?
For more information contact
Ken Kunka
Flywheel Building Solutions
250 859 6062
info@flywheelbuildingsolutions.com
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