Hybrid Contracting with Smart Allowances
Use a fixed price for defined scope (structure, rough MEP, insulation, drywall) and capped allowances for undecided finishes (tile, decorative lighting, hardware). Each allowance should list a realistic per-unit target and one or two pre-approved alternates so value-engineering doesn’t trigger redesign.
Procurement & Lead-Time Discipline
Front-load selections that drive schedule—windows, stairs, skylights—then sequence second-tier choices (plumbing trims, tile) with a two-week look-ahead. Lock quotes within a 30-day window and confirm hold periods; if markets spike, alternates are ready without change-order churn.
Change Control & Transparency
Track a living change-order ledger with running totals, supplier quotes attached, and reasons categorized (hidden condition vs. owner upgrade). Tie milestone payments to inspections (framing, rough MEP, insulation, final) so cash flow mirrors verified progress.
Contingency That Fits Old Housing Stock
Carry 10–12% for hidden conditions in pre-war homes and 3–5% for price volatility. Weekly cost-to-complete snapshots keep surprises off the invoice. For templates and a budgeting checklist tailored to sloped spaces, see attic remodeling cost control in NYC.