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What Is A Conceptual Budget?

How Your Creative Vision Becomes Tangible

As anyone who’s ever scrolled through Pinterest can tell you, there are as many creative ideas for home renovations as there are people to dream them up. Sometimes the ideas are straightforward: a bathroom remodel to include new countertops, repainted cabinets, and a tile shower, for example. Other times, the ideas are a developing vision of something grand. A 3-car detached garage with a full basement for a workshop space, a two-story master suite addition, a pool house complete with a medical sauna and outdoor kitchen, a horse barn with a tack room, covered porch, and patio for spectators are just a few of the ideas that have been brought to us lately.

As these ideas begin to unfold, it becomes clear that there are numerous details, specifications, and unique features for a client to consider. One of the most significant determining factors is budget – this ultimately determines whether their dream is feasible. But how is a budget determined based on just a vision? By the development of a conceptual budget.

A conceptual budget is intended as a guideline to provide a general idea of pricing for a project of this size and scope. The size and scope are based on the description provided to us at the consultation appointment, typically verbal description, rough sketches, or photos found online. This can be scaled back or expanded as you choose.

It is not uncommon to have a bit of sticker shock when receiving the conceptual budget estimate. Our dreams are our dreams, and we may envision spaces with our favorite features such as a gas fireplace in the master bedroom, coffered ceilings, or a stone retaining wall along the driveway. These can be costly details, and it is at this point that your priorities must be assessed. What are the must-haves and what are the things you can live without? Where are the ‘pain points’ in the overall cost? What can be removed from the project while still maintaining the overall vision? These are all questions to ask yourself and, just as importantly, to discuss with your contractor.

The next step toward bringing your vision to life will be acquiring architectural designs. To provide an accurate and detailed estimate, you will need engineered architectural drawings. This will allow us to refine the scope of the project and make pricing adjustments as needed based on your priorities and your budget. Once we have architectural drawings and plans, we can provide a fully detailed estimate of your proposed project and move forward with the process. At Closer Look, we do this by offering design/build services, complete with 3D renderings of the front & side elevations, floor plan and construction details. From here, your dream is well on its way to becoming a reality – from concept to construction, Closer Look is here for you every step of the way to provide you with the quality, reliable service you seek.

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