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Internet Budget Research (Part 3)

budgeting your home project

Why do I caution internet research on budgets? For the same reason I would caution any kind of research on the internet, anyone can publish anything. I researched 2 leading home improvement web sites that offer lead services to contractors. I do business with both so I will leave off their names. They both have several pages dedicated to project budgeting. One listed the local average for a bathroom renovation at about $10,500 the high end at $25K and the other site listed the average at $14K the high end at $56K. Wow! What a difference. The lower one budgeted on $2500 for installation. $2500! Let’s take 2 skilled tradesmen at about $25 per hour take home. By the time we are done paying taxes insurance, truck, tools, fuel, marketing (let’s not forget the marketing) and other overhead items they will bill out for $50 each or more. Doing a gut renovation on the fly is about a 2-week job for 2 guys. 2 men x $50x 80 hrs = $8000. Even if we cut their pay in half, we would not reach that number and we will be getting less skilled people.

Could these sites that publish this information defend these numbers? They certainly can. They could tell you that installation didn’t include flooring or wall tile or plumbing. The fact is we just don’t know how they come up with this stuff and, honestly, they don’t care if you are willing to click on the advertising banners or put in your information so they can sell you as a lead.

Be careful. If you need help budgeting, ask a professional. Those willing to help you with your budget and are forthcoming with information are the ones to work with and always be sure your contractor is qualified for the job.

If you have questions about budgeting call OnDeck professional project manager that will help you budget your project and give you professional opinion on it.

Call OnDeck at (866) 278-2841

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