When planning a renovation, one of the most important factors to consider is the budget. At BEC Innovations, we aim to make the financial side of your project as transparent as possible. One way we do this is by including allowances in our proposals. But what exactly does that mean? Here’s a great overview of understanding allowances in your renovation proposal:
What Are Allowances?
Allowances are placeholder amounts assigned to certain aspects of your renovation, such as cabinetry, flooring, tile, or fixtures. These figures represent a reasonable budget for these items, allowing us to give you an estimated total cost for your project before you make final selections.
How Do Allowances Affect Your Budget?
Your control over your final costs depends on the selections you make. At BEC Innovations, we base our allowances on mid-range, quality materials that align with what most of our clients choose. However, if you decide to go with high-end selections—such as custom cabinetry, designer fixtures, or luxury tile—your actual costs may exceed the allowance. On the other hand, if you opt for more budget-friendly options, you could come in under budget.
For example:
- If your proposal includes a $5,000 flooring allowance, but you select flooring that costs $4,200, you save $800.
- If you select flooring that costs $6,000, your project cost will increase by $1,000.
Why Do We Use Allowances?
We include allowances to give you flexibility and control while keeping your project moving forward. Rather than waiting for every single selection to be made before providing pricing, we can start the process while still allowing you to personalize your renovation.
Already Know Your Selections? Let Us Know!
If you already have specific selections in mind—such as the exact tile, fixtures, or cabinetry you want—we can include those in your estimate upfront. This means your proposal will reflect actual costs instead of allowances, and it’s one less conversation we’ll need to have about selections later on. Providing these details early can streamline the process and help keep your project on track.
How to Stay on Budget
If you want to keep your project within the proposed budget, we’re here to help! Understanding allowances in your renovation proposal is key and BEC will guide you toward selections that align with your budget and vision. If you’re unsure about an option, just ask—we’ll make sure you understand how it fits into your overall project cost.
Allowances are just one part of creating a smooth and stress-free renovation experience. At BEC Innovations, we’re committed to helping you make informed choices so you can get the home you love—at a price that works for you.
Have questions about your renovation proposal? We’re happy to help!
