A budget is about planning the allocation of funds to a project at a moment in time, based on the scope of work, and allowing for variances.
When deciding your project budget, you should have already started with an idea of your funds available, having had a discussion with your lender. Being clear on your budget from the start influences the design.
For example, all material elements to a build, have a cost. Changing one material for another might reduce the cost of the material but could take longer to install, so might not save you money overall. We design homes with many factors like these in mind.
We can’t overstate enough that the design stage is the best time to influence your overall budget and is the time to make some key decisions. Working with clients who are honest about their budget makes each stage of the design and then the build process smoother.
Included in your budget are actual build cost, drawings, council fees, other specialist costs ie engineers, furnishings, appliances, landscaping, insurances and possibly accommodation if you relocate while building. Plus a fund for contingency for the unknowns.
How to influence the budget during your build
- Understand as much as you can upfront – your priorities and your limits; whether you have the option to change items or delay to a later date
- Share any information with us; we can’t mind read but we can listen
- Making decisions and communicating them promptly ensures we manage time on-site for ourselves and our sub-trades
- Look at your budget information on a regular basis. LC Designer Homes provides weekly updates itemising spend to budget. It isn’t the most exciting task but one that ensures you understand where your money is spent, allowing you to make robust decisions.
LC Designer Homes are as accurate, transparent and detailed as we can be with budget information during both design and build stages, allowing you to understand where money is being spent, to make better decisions and to have greatest influence on your budget at each stage. It is, after all, your home.