When it comes to building a new home (for single or double story homes), no matter what kind of person you are, where you live or which builder is building your home, one thing remains consistent and that is the presence and importance of a good budget. It can be all too easy to lose sight of your budget during the build process due to uncertain factors or unusual circumstances. There are a few tips though that you can have up your sleeve before going in to deep and losing sight of your budget. We have compiled a few for you.
1. Extend your margin
When you sit down to do a budget, think through all the things you can about what you need money for, once you have done that add a couple of thousand or more on top as a “buffer”. You never know how many unexpected costs may arise that you need money for. If those costs do not arise, then you have a little extra money at the end. But it is better to over budget than under budget. It can help as well to have a rough idea or maybe a copy of the single or double storey house plan you are going with.
2. What are your non-negotiables?
Before you begin construction it is worth your time to sit down, and whether it be by yourself or with the person your building with, figure out your non-negotiables. What do you not want to change? or what do you HAVE to have. There are always a few things that people do not want to compromise on, for example these can be things such as: a guest room with a bathroom, polished floors, timber floors, certain light fittings, a pool etc.
3. Study up and be prepared
With anything in life that involves a large amount of time and money adequate research needs to be done. One way you can research is to visit display homes, even if the builder you are going with doesn’t have display homes, you might as well drop into some other builders display homes and have a look at the features. Some features that you had your heart set on may not be as appealing in person, so it is worth looking around. Another approach to research could be to ask any family or friends who have built a home before. They would have incredible insight into the whole process along with home builders in Perth and what’s worth putting your money and efforts into and what is not worth it.
4. Swap or trade
Staying within your budget can be tough, so be flexible and willing to swap what you wanted for a less expensive product. For example, maybe you really wanted high end marble bench tops but it doesn’t sit in your budget, ask your builder for other options. Maybe they can suggest a less expensive stone that has a similar look and style without the extravagant cost.