It is often very difficult to give accurate pricing information without a full set of drawings and specification. The variables involved are so complex and specific to every building that you cannot possibly account for them.
However the timbertecs team has set to work on providing rough budget indications based on percentages to try and help.
Setting your Budget.
Do this at an early stage.
Calculate the maximum you can spend and then remove 10%. Keep this 10% contingency aside for the inevitable unknowns that will turn up during your project.
|
TT Top Tip
Always have a contingency of at least 10%. Remember construction work is a dynamic process and thing invariably will come up that you haven’t thought of.
|
Then using our rough guide below, work out roughly how much of this budget is allocated to each part of the build process.
Set your budget early and talk to your designers. Let them design to your budget.
Get your architect or designer involved at an early stage. Let them know what your budget is. A good designer should be able to design to your budget and will tell you if your project is not feasible.
|
TT Top Tip
Be realistic you will not be able to build a 4 bedroom house with 4 en-suites and 2 kitchens for £75,000!
|
Save where you can.
There are areas you can save money without compromising your build. For example use a design company used to working with your chosen materials. Talk to your suppliers about standard sizes and bear this in mind when you design your home.
|
TT Top Tip
Using standard sizes for windows, doors and other components can cut the cost of your building without compromising your design.
|
Use a good Foundation Company
Spending a little Extra on Foundations could save you thousands in remedial work. Timbertecs recommends that you get a geological survey completed on your plot. This will provide you with accurate information about the type and depth of foundations you should use. It can also help satisfy Building Control that your foundations are adequate.
|
TT Top Tip
Companies providing Superstructures reject a large proportion of foundations. Spending a little bit more in this area could save a lot of heartache. Always use a recommended foundations company.
|
Stick to Your Budget!
Easier said than done. Keep accurate records of what you are spending. You should already know roughly what proportion of your budget should be allocated to each section of the build.
Keep talking to your Project Manager, Suppliers and Contractors. Especially if it looks like you are approaching your limit. Remember that you do have a contingency available and that is what it's there for. However make sure you use it wisely!
