Controlling your budget

Controlling your budget

The most expensive thing you can do when undertaking a building project is rush.

If you want to get the most out of your budget, you need to understand how the building costs add up. It is advisable to do this in advance of starting on site, so that if the builders quote is more than you expected, you have time to moderate your aspirations/ specification or vary the scope of the project.

Getting your Architect to produce pertinent detail drawings and a breakdown of the intended work is the best way to ensure you have control over your project and building costs and the quality of the end result.

Accurate drawings are the backbone of a well organised project.

Agree all the details upfront: the more details you can tie down, the better the detailed drawings will illustrate these decisions in a way that can be better quantified. This will leave less opportunity for unforeseen extra costs to creep in at a later date.

Be mindful in your choice of fittings and finishes: contrary to popular belief, the choice of fittings is often the most influential issue to affect the cost of a building project. A luxury fit out can cost five to ten times more than a basic or budget one!

Try not to change your mind, as last-minute design changes are often a recipe for losing control over your budget.