Why is it necessary for a builder to know your budget? It’s a common query that crosses the mind early on in the planning process, even if you don’t want to say the words aloud. The question can feel confronting and to disclose this may feel unsettling, but it is important to establish this trust early on in the relationship.
Providing a realistic quote
Generating a quote is a lengthy process which requires your builder to thoroughly assess all facets of your project to provide viable options to fulfil your plans. A realistic quote can only be created if you are open with your builder.
These days most builders require a fee for creating a quote. By being forthcoming with your budget, your builder can give you an accurate representation of costs, which will save you time and money in the long run.
This also means they will be able to find an architect or building designer to bring your ideas to life within the means of your budget. Providing inaccurate or misleading information can result in your builder presenting you with an inaccurate quote. This will further delay the entire construction process and can cause the finish date to be pushed back significantly.
Prioritising needs vs wants
A realistic quote gives you the opportunity, before and after, to assess what you wish to prioritise in your project. As your builder tailors the quote to meet your specific requirements, it’s important to develop a running list of you needs and wants.
Your ‘needs’ are the must-have inclusions that your builder will know to factor into the quote, whereas your ‘wants’ are inclusions that aren’t 100% essential but are things you wish to keep on the table in case there is leeway in the budget for them.
Embracing alternative suggestions
Always take advantage of the expertise and knowledge of your builder. Supplying accurate information is a guaranteed pathway to maximising their potential.
Providing your builder with detailed specifications to work off, allows them to bring you additional options and suggestions that may be suitable for your project. They can then offer material and design alternatives to help you cut costs where possible, which may allow inclusions of additional items from your ‘wants’ list.
The more information you give, the more likely it is for your builder to cater to your needs and find you the most suitable and affordable outcome.
Collaboration with a common goal
Your project is a collaboration between you and your builder. You should always keep in mind that the both of you are working together with a common goal in place. To avoid disappointment and ensure everything runs smoothly, communication is key.
Your builder is there to help you oversee, coordinate and complete the project for you. By giving them your budget early, you are providing them with an integral tool to help them accomplish your dream.
Whether you’re planning a renovation or extension, duplex build or brand new custom home, it’s important to raise the topic of budget promptly to ensure a successful build.
If you’re interested in learning more about why builders ask for your budget early in the construction process, get in touch with the friendly team at Cunningham Constructions today.