When we first met with Mary and Stewart a few months back at a Plansmart Renovation Seminar they told us about a previous renovation experience which we would like to share with you.

In 1997 Mary and Stewart were living just outside Toronto in a 1926 stone two storey home. They bought the house two years earlier knowing that it would require work, particularly in the kitchen and bathrooms. They also really wanted a really large open family room for entertaining.

With those goals in mind they sought out help from an architect. Their initial budget for the work they had in mind at the time was $140,000.00.

Mary and Stewart spent 4 months working with their architect (Bill) to come up with plans which they felt met all of their needs. With the drawings complete they met with two renovators that Bill had recommended and one other which Stewart's brother had used for his renovation.

The lowest estimate that they received was $195,000.00 and the highest was $248,000. None of the three estimates were complete. One had not included the stone kitchen counter tops the other two missed the costs to upgrade the existing electrical wiring throughout the house. Mary figured that they would have need an additional $12,000 - $15,000 for these costs. They also anticipated that they would be faced with at least another 10% - 15% in unexpected costs as the renovation proceeded. In total they were anywhere between $97,000 (62%) and $174,000 (116%) over their original budget. All this before they ever started!

Mary and Stewart hadn't realized at the time that their project was out of control right from the start. Unfortunately the end result for them, like most homeowners in a similar situation is that they completely lost confidence and interest in their renovation dreams and put everything on hold.

Mary and Stewart made a costly mistake that we've see happen to homeowners over and over again.

Like most homeowner thinking about renovating, Mary and Stewart followed the traditional renovation planning process. They hired an Architect and then put their project out to bid with several contractors hoping that the designs would meet their budget.

The reality is that generally this way of planning for a renovation is ineffective. Architects, designers and design/build contractors rarely design to budget. Unfortunately most homeowners don't realize this until it's too late.

Over the years we've heard other homeowners tell us the same story time and time again.

Don't let it happen to you.

Speak with a Plansmart Advisor about how you can get started planning your renovation and avoid the disappointment and unnecessary costs. With Plansmart you will understand before you build.

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