Anticpating budgetary drift
January 9, 2012 10:25 AM Subscribe
Do I disclose my actual budget to my architect/designer for a major renovation?
posted by anonymous to Home & Garden (11 answers total) 6 users marked this as a favorite
We are embarking on a much-needed, rather extensive home renovation. Because I am catastrophically inept, a wonderful, inspired architect/designer, a friend of friends, has offered to take on the project and see it through to completion. We have never undertaken anything on this scale before and what for us is a huge sum of money, for him is a fairly modest budget.
My question is this:
Do we disclose our full budget or do we tell him, say, 80% of our real budget, in anticipation of budgetary drift?
Your first question is, how well do I know this guy? And your second is, what is his track-record and reputation? The answers are, I trust his vision and his integrity but friends tell me his vision can be expensive. (Not quite an answer, I know.)
Other factors: It is a unique and fabulous space that he - the designer - loves and wants to see rehabilitated. And he acknowledges that we are not in the same tax bracket as his regular clients.
So while it is largely a matter of mutual understanding between individuals, I am also asking about standard practices and personal experience. (In general, one doesn’t hear about projects that come in on budget.)
(And since I wish to remain anonymous, let me thank you in advance for your insights.)