It’s the million-dollar question, ‘what’s your budget?’ And coming up with that figure is no easy feat. Understanding the costs associated with a build or extension can be mind boggling once you put everything into consideration. But chances are, any reputable and professional builder will ask the question, and it’s a crucial aspect for your project, especially in the beginning.

Why is knowing your budget so important?

Your budget ultimately provides clarity around what you want to achieve and essentially what you can afford to achieve. It’s a realistic basis for any builder to work to, keeping your needs in mind from the get-go. 

Every project has the ‘non-negotiables’ and the ‘wants’. Understanding the difference between the two will help to narrow down what’s really important and what isn’t as fundamental to the project. 

Having an idea of your budget and designing within the confines is really important in achieving a result. It comes down to your expectations of what you are willing to invest.

Save time and money

Knowing the budget from the get-go is fundamental to progressing with any project. Before moving into the proposal stage, the expectation from both parties needs to be clear and transparent so there are no hold ups down the track. Making changes to plans and any project because of budgeting issues will cost both time and money in the long run. 

Understanding your budget will give your builder an insight into what you want to achieve and set the tone early, before progressing. Everything comes at a cost, so to provide the most accurate proposal a well-thought-out budget is what’s going to give you the best result.

Do your research

Before diving into a project, do the legwork to give yourself an understanding of what costs you may be up for. For some, the building industry may be a whole new world and your idea of pricing could be way off or on the mark. For others, this may not be your first rodeo, so you’re somewhat prepared. But updating your knowledge is never a bad idea, especially with fluctuating material costs. Visit some suppliers and gauge your style for your flooring, windows, paints, consider the size you are covering and don’t forget the added labour costs, this will help you determine a realistic budget.

Help is here

Always remember, you’re not alone! Lucky for you, we’ve been doing this building thing for a while, and we know a thing or two, so we are here to help. We will be able to manage your expectations based on the size of your extension, the materials and equipment we may need to work with and your inspiration and style. If you’re looking for clarity and confidence around the budgeting process to complete your project and exceed your expectations, we’re available to chat.