Tips For Keeping Your Building Project Within Budget
Helpful tips for keeping your home building project under budget.
Welcome to the latest Highfields Builder blog where our aim today is to help keep the cost of your building project under control! Homebuilding projects are a lot like a jigsaw puzzle with all the pieces coming together to complete the finished product. The trouble is the cost of those pieces can sometimes vary considerably, and add many thousands to the overall price. Whilst some areas of the building process are more prone to cost blowouts than others, it’s fair to say that it’s easy to add unnecessary costs without too much effort.
Some of the more problematic areas for homeowners include the footings (foundations), earthworks, fixtures and fitting, landscaping, and what we refer to as lifestyle options. So, let’s spend a bit of time to flesh these out and give you some helpful tips.
- Footings – The foundations are a critical part of the overall construction. Engineered to ensure stability and strength, the foundations are the base upon which the home will be built. It is NOT an area where cutting costs will save you money. Inferior foundations are a disaster waiting to happen! So, at this point, we need to take a step back to the point where you as the home buyer are looking at land options. When you’ve found “the perfect block” it’s wise to get a soil test before signing a contract to know whether you’re dealing with an M, H, or an E rated block. With the difference in the many thousands, it will help you make an informed decision whether to budget for the additional cost or walk away from the purchase and find another block.
- Earthworks – If the land is on the side of a hill and the home has a slab foundation (instead of stumps), then it stands to reason that some earthworks will be needed to clear and level the site. Engaging with Scott and the team at Highfields Builder BEFORE you commit to a block will help you make the right decision for your circumstances. Scott will provide guidance on the amount of earthworks needed so you can decide whether to budget for the cost or look at a more favourable block of land. A bit of planning could save you thousands!
- Fixtures and Fittings – The potential money pit of home building!! Fixtures and fittings are where homeowners need to decide between the must have’s and nice to have’s! For example, with the average home having 100 to 200 powerpoints and light fittings the price difference of a few dollars between styles can easily add a couple of thousand to the overall cost. Tapware and light shades are another potential cost trap. The next time you’re in a hardware store take a stroll down the plumbing department and check out the range of taps available. Many look similar but depending on design variations and brand name it’s common to see some costing double the cost of other options. We all love air-conditioning, especially in a hot summer. But, considering your lifestyle, do you need ducted air con in the whole house or just the living room or bedroom? The difference could exceed $10 thousand!
- Landscaping – The layout and presentation of land and surroundings is an important part of the building process. However, like other aspects of homebuilding, there are plenty of ways for the costs to exceed your budget. Doing all the work yourself will certainly rein in the costs as the expenses are limited to materials only. However, you may not have the time or skill to design and build a functional and eye-catching garden. Other options include engaging a landscape designer to create a plan for you to follow, or, engage a professional landscaper to design and complete the project from start to finish. Landscaping is one area where you genuinely save a lot of money by jumping in and doing as much of the labouring work as time or energy permits!
We’ve only just touched on a few areas where some simple strategies can contain and even reduce your building costs. The list isn’t exhaustive and we encourage you to talk through different options with Scott, Bonni, and the team during the design phase. Undertaking some research around these costs will ensure the budget is reasonable considering the scope of the project. You’ll be surprised how simple changes can make a difference in the overall project cost.
Having an open communication channel with your builder will ensure all potential costs are fully understood and potential reduction strategies are explored. When it comes time to plan your new home, the team at Highfields Builder is ready to support you and deliver a quality outcome on time and on budget. It’s the Highfields Builder way!
We’re your local home building specialists across Toowoomba and nearby regions and build quality, energy-efficient, and cost-effective homes for owner-occupation or investment purposes. Check us out at www.highfieldsbuilder.com.au and LIKE us on Facebook @ www.facebook.com/highfieldsbuilder
This publication series covers home building, real estate, home finance and legal related issues in a general way. It is intended for general information purposes only and should not be regarded as legal advice. Highfields Builder Pty Ltd recommends that professional legal and/or financial advice should be obtained before taking any action on the basis of the general information presented in this publication.
Written and Published by www.presentprofessionally.com.au
Highfields Builder is your local home building specialist in the Toowoomba region
Scott, Bonni and the Highfields Builder team are focused on building strong relationships with customers and delivering outcomes that exceed expectations. The process of building a home can be complex and every customers situation is different. When you build with Highfields Builder you become part of a team committed to delivering the highest standards of excellence in residential home construction, from enquiry through to handover.
DISCLAIMER
This article may include information on home building, real estate, home finance and legal related issues in a general way. It is intended for general information purposes only and should not be regarded as legal advice. Highfields Builder Pty Ltd recommends that professional legal and financial advice should be obtained before taking any action on the basis of the general information presented in this publication.
Toowoomba QLD 4350
admin@highfieldsbuilder.com.au
Monday to Friday 7am - 5pm
QBCC-1316473
Designed by Working Websites Powered by WebWave