Your Schedule of Values

 

When you are updating your home, let’s

say plans and specs for your project will

cost $3,000. Within

your Schedule of Values (“S.O.V.”), the $3,000

cost for plans and the specs will be labeled as

a dollar amount within the project – “plans

and specs, $3,000.”

 

Within your S.O.V. this $3,000 cost for plans

and specs will also be categorized as a

percentage of your overall project.Let’s say

your home updates will cost $125,000 in

order to complete. Your plans and specs

cost $3,000. So within your S.O.V., plans and

specs will be categorized as 2.4% of your

overall project. Itemized as a dollar amount

– $3,000 – and then itemized once again as a

percentage – 2.4% – within your S.O.V.