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I was watching one of HGTV’s shows called Dream House or maybe Dream Home. The show is about a couple who are making a huge addition to an existing house. It looks like it will be a beautiful house when all is said and done. However, the couple is in way over their heads. The house just barely got a roof and they’re already $50 k over budget. That’s out-of-pocket expense for them. Now they are in a battle with their contractor. He doesn’t seem to have any answers for them other than “it happens”. They are putting in a lot of work by themselves to save money. Then what really boggled my mind is they went kitchen shopping and chose the most expensive kitchen money could buy (the kitchen is the most expensive room in the entire house). I can’t beleive they didn’t plan for extra expenses in their budget. I also can’t beleive they then, knowing about the $50 k out-of-pocket expense they had to cover, bought a rediculously expensive kitchen. If you’re planning on building, make sure you have room in you budget. Make sure you discuss what could happen with your builder so you can have a comfortable cushion between you and broke. About the kitchen… I don’t know, but be smart about it!

Tags: contractor, over budget, remodel, remodel budget, sweat equity