How to use the budget
Enter known quotes separately from contingency so you can see how much of the total is committed and how much is reserved for surprises.
Example
If labor is $12,000, materials are $18,000 and permits are $1,500, known costs total $31,500. A 15% contingency adds $4,725, for a planning budget of $36,225.
Contingency is not optional
Older homes, hidden damage, scope changes and permit requirements can quickly change project cost. Keep contingency visible rather than burying it in materials.
Common mistakes
Do not treat a contractor quote as the full project budget if appliances, design work, temporary housing, disposal or permit fees are excluded.
Last reviewed: 2026-05-17