The Budget Baloney Blues - Part Three - Why online cost tools can derail your new home or remodel project.

Understanding Construction Budgets: A Deep Dive with Bill Reid

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In this episode of The Awakened Homeowner Show, Bill Reid discusses the complexities and challenges of budgeting for home construction projects. Broadcasting from his shop in the Sierra Nevada Mountains, Bill shares insights into various online tools for estimating construction costs, highlighting their often misleading accuracy. He introduces his own upcoming application, Build Quest, designed to help homeowners balance their dreams and budgets realistically. The episode includes live demonstrations of popular online tools like Start Build and Home Cost, analyzes a report by the National Association of Home Builders, and offers in-depth comparisons to showcase discrepancies. Finally, Bill shares his comprehensive budgeting spreadsheet, providing a realistic approach to estimating construction costs. He emphasizes the importance of combining these tools with expert advice from architects and builders to meet expectations effectively.

00:00 Introduction to The Awakened Homeowner Show

00:05 Understanding Project Budgeting

00:33 Online Tools for Estimating Project Costs

00:45 Challenges with Online Estimations

01:14 Introduction to Build Quest

01:50 Diving into Online Budgeting Tools

02:46 Exploring Family Home Plans

06:34 Analyzing NAHB Report

09:34 Reviewing Start Build Application

15:44 Reviewing Home Cost Application

19:13 Comparing Different Zip Codes

24:56 Developing a Comprehensive Budgeting Tool

34:42 Conclusion and Final Thoughts