Budgeting and Planning

Chapter 4: Budgeting and Planning

With the proper budgeting and planning, your multi-family property’s project can be even more seamless.

Our team of painting, coating, and repair professionals at CertaPro Painters® of Indianapolis would like to share some tips you can use for your community’s 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.

Download our Budgeting Checklist to help you better budget for your community’s next project.

Now that you know how to budget and plan ‌for your multi-family property project, it’s time to make sure you know how to write the perfect request for proposal (RFP).

Go to Chapter 5: How To Write The Perfect Request For Proposal (RFP)