How to stay on budget when building your own home

June 15, 2020 1:35 pm

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The most important part of a self-build project is sticking to the budget. The results of going drastically over budget could mean moving into the new home is more difficult or even mean having to sell up once the build is complete.

Here are some tips to prevent a disaster in the finances:

  1. Put the budget at the top of the list

Any plans, wishes or designs that are given to the chosen designer must have the budget clearly stated at the top. It must be a priority that any materials or plans fit inside that budget and there can be no wiggle room. It’s a tough stand to make but it will ensure you don’t overspend.

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  1. Work with those who understand costs

Don’t be tempted to work with anyone who can’t clearly show they have an understanding of costs. It can be too tempting to get carried away with jaw-dropping designs with little thought for the knock-on impact on the costs. There are tons of ways to have impressive and attractive designs that can be completed economically. Find out more about Self Build Homes Solihull at a site like IFurb, leaders in Self Build Homes Solihull.

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  1. Budget all the way through

Budgeting is not just an activity that happens at the start of a project. At every stage of the project, look at the costs and the budget to make sure that everything is staying on track. If costs are spiralling, a new management process can be initiated to minimise further spending.