Maybe you’re adding an expansion onto your home, constructing a standalone storage building in the back yard, or undertaking some other major construction project. Whatever it is that you’re building, you likely already know that big construction jobs can carry big costs. If you haven’t budgeted for the job correctly, though, you might end up surprised at how big some of these costs can be.

Sticker shock for construction projects can be a problem, but it doesn’t have to be. With a little bit of thought and planning, you can make sure that you’ve got all your expenses covered in your budget before the job begins. While some of the costs involved will be very specific to the details of your construction project and where you live, these budgeting tips will help you to keep an eye out for things that can drive the price tag up, so you can account for everything.

Major Expenses

Some of the costs of major construction projects are obvious: You’re going to need money to cover things like lumber, siding, wiring, and other materials. You’re also going to have to pay your contractors and laborers for the work that they put into actually doing the construction. If you aren’t paying attention, however, these costs can get away from you and leave you with a bit of a surprise when the bills come due.

Many material costs fluctuate based on supply and other factors and may be affected by things like transportation costs as well. Lumber prices in particular are prone to fluctuation and can increase significantly if supplies are disrupted. If possible, get in a purchase order or otherwise get some sort of pricing guarantee before work starts so that you can lock in a price and protect yourself from price shifts down the road.