Renovation of your house or interior design is a fun filled activity in all respects except for one aspect – financial overrun. Inspite of best of efforts from your side, nine out of ten times, the actual cost shoots up well above what was estimated as a final budget. This becomes more probable when you manage both interior design and cost of materials but hire labor only for execution. Why is it so? Where do things go wrong? At the outset, most of the reasons pop up due to inexperience in handling projects of this nature where miscellaneous and contingency expenditures appear frequently from nowhere. Being a successful interior designer in Wakad, Pune and having executed several projects, we know where things really go wrong.
- Improper shopping plans: First and foremost, improper plans while shopping can be attributed to be the root cause for the budget to overshoot. Instead of buying pre-planned curtains of blue shade, you might have bought one in orange hues out of temptation. But the implication is quite huge and you may have to go for another shade of your walls or cushions in the sofa that matches the curtains.
- Non-allocation of contingency funds: Any project, however small it is, needs to have a contingency fund allocated for expenditures that arise out of unexpected quarters. But you may be wondering how it is managed by the professional designers and architects? Well, with their vast experience in handling projects, they foresee the necessity of contingency requirements and hence always figure it in their estimation. Indeed a smart move but there is absolutely no harm in adopting their technique.
- Price variations: How many times it has happened to you – difference in budgetary quotation and the actual invoice price. The dealers or suppliers can’t be blamed, as they are never bound to offer the items as per the budgetary quotation and they would always pass on the price escalations, if any, to the customer. Hence you can stay within the budget if you are flexible enough at the beginning to allocate sufficient funds for price variations.
- Incompetent specifications: This is perhaps one of the crucial reasons for budget exceeding the estimation. Let us explain with a simple illustration. Shelves of the living room cabinet could have been made out of commercial grade plywood instead of marine proof ones you had ordered. This subtle lapse in technical detailing would cost you dearly. The key for success in executing your project lies entirely with a thorough home work that encompasses detailed research, says a reputed professional involved in town planning, Pune.
- Communication lags: Miscommunication among different executing agencies can cause nightmares and blow a hole in your pocket. Veneers instead of laminates, larger tiles instead of smaller ones and the list goes on and on. Remember, these variations have huge say in the final stage when the actual bill is presented for settlement.
- Insufficient raw materials: Perhaps, it is the most common mistake committed by enthusiastic ‘Do It Yourself’ individuals. It obviously makes sense to buy atleast 5% more of the required raw materials, as any renovation works demand allowances in various forms. Again when you fall short of items, you may not get again a small quantity of the same material and may even have to compromise with shades, textures, and designs.
- Incorrect assumptions: Once the project is half the way through, you cannot rethink and say “I thought of something else and this looks different”. Unfortunately, that is not the way your project should move forward. Envisaging your project in totality after factoring all the components in the planning stage is the only way out to steer out of this problem. If necessary, consult with an architect about your project and believe us, it will save you lot of money in the long run.
If you are looking for a reputed architect & interior designer in Hinjewadi or adjoining areas for your home and interior renovation or new construction, you can always drop in for consultation. We will help you throughout the complete phase, right from planning to execution and transform your aspirations into reality.