budget contingency

How Much Should I Budget For Contingency?

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How Much Should I Budget For Contingency? How much contingency will I need? Most construction projects use a rate of 5%-10% from the total budget to determine contingency. Typically that will cover any extra costs that might come up. However, it is often a bad idea to use a rate less than that, depending on

What Is Contingency In A Budget?

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What Is Contingency In A Budget? What is a contingency budget? A contingency budget is money set aside to cover unexpected costs during the construction process. This money is on reserve and not allocated to one area of the work, and simply “insurance” against other costs. What is an example of a contingency cost? For