If you want to stay in control of your spending, an integral part of planning a new project is budgeting. Everyone wants to get value for their money. Here are a few factors that can affect the cost of your project:
Build costs, Design and materials
Self-build projects always vary in price depending on a number of factors. Ultimately, the design, quality and size are likely to be the most costly factors.
Basic materials and sourcing kitchens and bathrooms from second-hand sources will keep your costs down considerably.
Investing in a particularly nice piece of hardware with an expensive price tag can have a detrimental affect on your budget and you might find yourself stuck for money when it comes to buying more essential items. Think about what is needed. Look at your planning permission conditions, which should outline a few essential requirements.
The more complicated a design, the pricier it gets – especially if you’re not flexible with it.
Avoid cutting corners on the important things which will not get replaced when the property is sold on in the future.
Compromises can be made on elements such as windows, staircases, flooring and roof coverings. Making bigger savings on these will have a positive effect on your budget.
It may come as a surprise that location can have an impact on costs. South-East England tends to be more pricey when it comes to builders for example. Areas where there are limited numbers of skilled tradespeople are likely to be more costly than others.
You never know when you might run into unexpected problems. From weather conditions to material costs, there are many issues that can occur during your project. Having a back-up fund in the case of this scenario will prevent you from getting stuck with money (or running to the bank of Mum and Dad).