Set a Renovation Contingency by Risk, Not a Default 10% or 20%
Before signing a renovation contract, identify unresolved problems that could consume your available cash and price them individually. A contingency should cover documented uncertainty, not apply a default percentage to the whole house. Key takeaways Separate known scope, allowances, exclusions, and unresolved risks before calculating contingency. Price each meaningful risk in dollars using local bids, … Read more