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Budgeting for your project

Posted on 16/11/22

Unless you are incredibly fortunate, most people embarking on a new project – whether it’s a new build, renovation or extension – have a budget that they need to adhere to. However, with the unknowns that any building project can throw up or the temptation of coming up with some added extras along the way, it is very easy for costs to spiral out of control and the project calendar to fall behind. So, in order to stick to a budget, here are a few suggestions to help keep your project on track.

Plan for it

It is important that you have a plan and a budget, right from the start and a project manager – even if that is you – to manage it. If you have a structured plan in place, it will be easier throughout the project to monitor where things are up to – both with regard to timescales and costs. This will also mean that if things start going off-track, you will notice it much more quickly, and it will be much easier to bring it back into line – or amend your plan accordingly.

Build in a contingency budget

With the best will in the world, there is a chance that something will come in over budget or an unforeseen event may cause you additional costs. If you budget in a contingency, it will be less stressful if you have to dip into it.

Design right

Working with a qualified and experienced architect from the start will solve a lot of problems further down the line. Getting the design right and taking into account the surrounding environment will mitigate against many issues. Your architect can design to suit your requirements and your budget, building in factors like environmental considerations and your personal needs. With increasing focus on energy efficiency, it is usually more cost-effective to design these elements in at the start, rather than trying to retrofit them.

Remember, a well-designed build, extension or renovation, will mean reduced running costs when the project is complete. If you are considering embarking on a building project, contact us to find out how we can make your dreams a reality – on time and on budget.

Budgeting for your project

Plan for it

Build in a contingency budget

Design right

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