In this episode, Rick Bell explains the importance of budgeting for unforeseen events when building a custom home. He shares real-world examples of construction surprises — like inadequate engineering or scope gaps between trades — and how a contingency line item in your budget can help resolve these issues efficiently without delaying your project. Whether you're building a high-tech modern home or a traditional estate, this episode will show you how to plan for the unexpected and protect your budget and timeline.What You’ll LearnWhat a contingency is — and why it’s essential in a custom home budgetHow scope gaps, design omissions, and code changes can trigger unexpected costsReal-world examples of contingency use, including structural errors and inspection surprisesHow much money to set aside for contingencies based on project complexityWhy a contingency can save time and stress — even if others are ultimately at faultGlossary of TermsContingency: A budget allowance for unforeseen conditions or events during construction.Scope Gap: A detail or task not clearly assigned to any trade, which can lead to added costs or delays.Change Order: A formal change to the contract that adjusts scope, price, or schedule.Egress Window: A window large enough to allow emergency exit, required in certain rooms by code.Code Changes: Updates or new interpretations of building codes that can add to construction costs.Errors and Omissions: Mistakes or oversights in design documents that impact construction. Listen & Subscribe 🎧 Spotify: https://open.spotify.com/show/4LzDQNSaAk15tm1rM8J6eo 🍎 Apple Podcasts: https://podcasts.apple.com/us/podcast/the-insiders-guide-to-custom-homes/id1815798115 ▶️ YouTube: https://www.youtube.com/@TIGTCH 🌐 Website: https://tigtch.com Connect with Us Instagram: https://www.instagram.com/tigtchpodcast Facebook: https://www.facebook.com/TIGTCHPODCAST LinkedIn: https://www.linkedin.com/company/the-insiders-guide-to-custom-homes Resources & Links Landmark Custom Homes: https://www.landmarkcustomhomes.com Instagram: https://www.instagram.com/homesbylandmark LinkedIn: https://www.linkedin.com/in/rick-bell-lch Email Rick: [email protected]...

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