Budget can make or break a project; the more accurate your estimations and calculations, the more likely you’ll build your dream home without any crippling over spends.

There are many factors to keep in mind when designing your dream home, the first factor being to ensure you have a contingency plan which will act as a cushion for unforeseen costs.

Working out exactly what you want from your new build is essential, since making changes to the layout or specification of your home can become very expensive. The more time you spend planning in advance, the more likely you are to stick to your budget.

You’ll need to consider the cost of land, the cost to build and the cost of any additional costs such as hidden costs that may arise during the construction of the self build. It’s a common mistake to spend too much money on features such as land or materials, leaving to a little to actually build with.

Being realistic with your spending and not rushing to buy the first plot and materials you see, is essential to ensure your stay within budget. Consider these top budgeting tips to help you manage your costs.

Top tips for budgeting:

1. Compare costs and negotiate - Do your homework first and compare and negotiate prices for materials, suppliers, professional consultants and trades people to get the best possible deal. You may save yourself thousands!
2. Project management - Good project management is vital for successful and cost effective self build. If you are considering managing the self build yourself, remember that this is a huge commitment and it’s important that you understand the full breadth of the work involved.
3. Don’t rush - Remember that time spent carefully planning and working out every detail of your self build will definitely be worth it when the project is finished! Research what can be build and what it will be worth when the project is finished. This will give you an idea as to whether the project will be worth it in the long term.

Remember to communicate any changes with the contractors and keep a written copy of any changes made so that both you and the contractors know of any changes when payment is due. Creating a spreadsheet to record your outgoings is also a good idea in order to keep on track with how much you have spent so far.

Arc Design Services Ltd are a fully Accredited Planning Agent in the Trafford Council area, catering for all client aspirations. If you’d like any help with your self build budget, then contact us today!