Cost Freakout

So we’re moving along in the process and have started seeing some real numbers in the past couple of weeks. At this point our plans (or what our builder calls drawings – future post on this) are pretty much done and have been sent out to the contractors to bids and the contractor has put those numbers together in a bid/proposal. For us, this is a spreadsheet that lays out each part of the build and all the inclusions and then options for upgrades or downgrades. There is no way around it, when money comes up tensions rise. This part has easily been the most tense and frustrating part of the entire process.

Because this is our first experience building a home, I can’t say whether this is going smoothly or whether the builder is doing a good job or not. What I can say is that there are a lot of moving parts and a lot of unknowns here. What we’d really like is transparency and I’m afraid we are  not going to get it. But maybe we will, maybe we just need to ask. Anyway, the numbers came back and they are quite a bit higher than what we hoped for. We are in the process of unpacking the details of these items and trying to find places where we can save. This has been a little difficult because there were some mix-ups in numbers and expectations in the initial bid so we are just disappointed when things don’t line up like they should.

For instance, there was a  line item for three additional paint colors and it had an up-charge for that. The builder said he thought that charge should have been included in the base price thus there would be no explicit up-charge. It was then our understanding then that if we decided not to go with the three additional colors we would be credited that cost. We decided not to go with the three color option, but then it was later determined the the three color option was not included in the base price thus we weren’t given the credit. Another big item hit home on the newest proposal. Throughout this process we had expressed interest in 9′ ceilings, but it was never explicitly written down. So when we asked it be detailed they said it included 8′ ceilings. So now, if we want 9′ it’s going to be an additional cost.  Some of these things are par for the course, especially for a custom build, but it’s a bit frustrating to have to come to terms with.

Nonetheless, we are kind of freaking out about the cost and are wondering what to do next? We have a meeting with the builder tonight and are trying to figure out how we should approach it? The last thing we want to do is get on the bad side of the builder. I think we could try negotiating with tact or ask for the pricing to be broken down so there is more transparency moving forward.

I will let you know how the meeting went.

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