I get what you mean, but I’ve seen the opposite happen too—one minute everything’s smooth, next thing you know, a pipe bursts behind a finished wall and suddenly that “wasted” contingency fund is a lifesaver. It’s tough to predict. Sometimes I feel like if you don’t need it, great, but when you do, you’re really glad it’s there. Maybe it’s less about risk tolerance and more about how much you hate surprises?
WHEN PROGRESS HITS A WALL: SURPRISING FACTS ABOUT FAILED EXPERIMENTS
That’s a fair point—contingency funds always seem like overkill until you’re staring at a puddle where your drywall used to be. I’ve noticed, though, that some folks are almost superstitious about it. Like, if you plan for disaster, it won’t happen... but if you skip the safety net, Murphy’s Law kicks in hard.
I’m curious, though—do you think the “hate surprises” factor is really what drives people to over-prepare? Or is it more about experience? I’ve met homeowners who’ve never had a project go sideways, so they’re convinced they can budget to the penny. Then there are others who’ve been burned once and now stash away extra for every little thing, even if it means cutting back on finishes or upgrades.
There’s also this weird thing where people get almost competitive about how little they can spend on “what-ifs.” Like, if you don’t use your contingency, you somehow “won” the project. But is that really a win if you’re losing sleep over every creak in the wall or drip from a faucet?
I wonder if it’s less about risk tolerance and more about how much control people feel they have over the process. When you’re building or renovating, so much is out of your hands—weather, supply chain hiccups, hidden issues behind walls. Maybe the contingency fund is just a way to buy back a little peace of mind, even if you never touch it.
Has anyone actually regretted having too much set aside for surprises? Or is it always the other way around—wishing you’d padded things a bit more when the unexpected hits?
WHEN PROGRESS HITS A WALL: SURPRISING FACTS ABOUT FAILED EXPERIMENTS
There’s also this weird thing where people get almost competitive about how little they can spend on “what-ifs.” Like, if you don’t use your contingency, you somehow “won” the project. But is that really a win if you’re losing sleep over every creak in the wall or drip from a faucet?
I’ve definitely seen that “winning” mindset, and honestly, I don’t get it. I’m all for saving money, but not if it means stressing out over every minor hiccup. For me, it’s about being realistic. I’d rather have a small buffer and maybe skip the fancy backsplash than end up scrambling when something goes sideways.
I get that some people think they can plan for every detail and hit their budget exactly, but in my experience, that’s just asking for trouble. Stuff always pops up—hidden pipes, weird wiring, whatever. I’d rather be prepared than caught off guard.
But here’s the thing: I’ve never actually regretted having extra set aside. Worst case, you finish under budget and have a little left over for something fun or to put back in savings. On the flip side, I’ve absolutely regretted not padding the budget enough. That feeling when you have to compromise on the final touches because you ran out of funds? Not worth it.
I do wonder, though—how do you decide what’s “enough” for a contingency? Is there a magic percentage, or does it just come down to gut feeling and past experience? I’ve heard everything from 5% to 20%, but it always feels like a shot in the dark.
I do wonder, though—how do you decide what’s “enough” for a contingency? Is there a magic percentage, or does it just come down to gut feeling and past experience?
Honestly, I wish there was a magic number. I’ve tried the “5% is enough” approach and, yeah, that bit me when we found a surprise support beam in a kitchen reno. Now I lean closer to 15%—it stings up front, but it’s way less painful than cutting corners at the end. If you’re working on an older place, I’d argue even 20% isn’t overkill. There’s always something lurking behind the drywall...
- I’m a spreadsheet nerd, so I always try to run the numbers first.
- For me, it’s more like:
- New build? 10% buffer.
- Anything pre-1980? Minimum 20%.
- Gut feeling only gets me so far—my wallet remembers every “surprise” pipe or wire we’ve found.
- Honestly, I’d rather over-budget and have leftover cash for pizza at the end...
