Budgeting: What to know for your multi-family project

Budgeting ahead of time is essential for any project to run smoothly at your multi-family property, and our team at CertaPro Painters® of Indianapolis is here to help. Our team of painting and repair professionals would like to share some tips you can use when budgeting for your next project.

Review Previous Budgets

Before creating a budget for your multi-family property’s needs, it’s important to review previous budgets you’ve used for projects with similar scopes. Looking over these is beneficial to help you ideate what types of costs may be involved and how your company can best plan for them. When thinking about potential costs, based on previous rebranding projects, it’s also important to consider how costs might have risen‌ over time. Otherwise, you could underestimate your budget and not have set enough money aside for your project.

Consider Potential Costs

Considering the potential costs of your project is critical to ensure you’re accurately budgeting. These costs might include things like:

• Services. Each of the individual services your facility will need based on the painting, coating, and repair needs you’ve identified.
• Spaces. The number of buildings or surfaces that need to be painted, coated, or repaired throughout your facility.

Accounting for these can help your company better budget for whatever project you’re planning for and you can even use the insights from your scope to help you.

Think About Timelines

Thinking about your ideal project timeline and the urgency of your project’s completion is critical. This is especially important if you’ve acquired a new property and need to make updates. Additionally, the time constraints you’re working with may influence your project costs, depending on material availability.

Once you know how quickly you’d ideally want your project to be completed, you can use that information during your bidding process to select a partner.

Check Out Our Ultimate Guide To Hiring A Commercial Painter for Your Multi-Family Property in the Greater Indianapolis Area

Interested in working with CertaPro Painters® of Indianapolis for your next project?

If you’re interested in working with CertaPro Painters® of Indianapolis for your next project or need help identifying the painting and repair needs of your multi-family property, we’d love to connect with you!

Send us a message at ​​[email protected] or call us at (317) 252 – 0334.