Before you can get started on the design and build of your new home, you must first establish a reasonable budget. Your building budget will shape your entire project – from the builder and architect or designer you choose, to the finishes and materials that you select for your new home. By setting a budget early, you’ll ensure that you achieve your dream home for the best price possible.
So how do you ensure you make the most out of your budget? Keep reading to discover our top tips for maximising your building budget.
Ask yourself: What do you want out of this project?
For many, it may seem impossible to have everything you want in your new home. So how do you determine what is necessary, what is an additional luxury and what isn’t required? Firstly, you should set your goals and really think about what you need out of the project. If you are wanting to undertake a renovation for instance, you should think about what are the ultimate essentials you need – perhaps more room or modernised finishes?
By understanding what the priorities of your build are, then you will be able to allocate left over funds to more desired items.
Work with a trusted builder
A trustworthy and quality builder will be able to make the most of your money and ensure that your project doesn’t exceed your budget. If you work with them early on while you’re still working with a building designer or architect, they’ll be able to consult on the design and suggest building solutions and materials that may cut costs.
A trusted builder can also provide a cost estimate that will include a detailed breakdown of your project spend. Be wary of builders offering free quotes. An accurate quote takes real time and knowledge to produce and a free quote will generally be based on simple square metre rates and won’t consider the specific details of your build. This often means that a free quote is inaccurate and could lead to a build that far exceeds your budget.
A trustworthy builder will be upfront about costs of building your home and ensure you stay on track for the entire duration of your building process.
Don’t make changes late in the process
One element of building that can cause budgets to blow out is making last minute changes or variations. These changes won’t be factored into your original budget and will come with an additional fee that you might not have considered. It’s important to take time to really think about the design details of your build before construction commences to avoid costly variations.
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Ready to get started on your dream home project and want to work with a builder who will ensure your home is built to your specific budget and deadlines? Get in touch with the team at Bolden Constructions today.
