Are you dreaming of building your ideal home but are unsure of how far your hard-earned dollars can take you? If your answer is yes, then you are not alone.
The challenge lies in navigating the complexities of home building, especially when doing so without a clear understanding of what you can realistically achieve within your budget.
So how can you maximise your budget during your renovation?
What Can You Get For Your Money?
One of the most common pain points for consumers in their renovation journey is the lack of awareness regarding the potential costs. The problem starts when consumers embark on the design phase without a realistic expectation of what they can afford. The consequence? Unrealistic, unaffordable plans that result in having to compromise on their scope of work or quality of finishes, which ultimately leads to a poor outcome.
In this case, collaboration becomes the key. Being upfront and honest with both the builder and the designer about your goals—budget alignment is of paramount importance. However, optimising your budget isn’t just about cutting costs. More importantly, it’s about spending your dollars wisely and effectively.
Every block and home is different, and solutions must be tailored to fit your unique circumstances. If your block presents challenges, such as difficult terrain, collaboration becomes even more critical. Discussing your vision and budget constraints can open up new avenues for efficiency and cost-effectiveness.
Surprisingly, not many homeowners are aware of a powerful tool in their arsenal—the Preliminary Building Agreement. By engaging with a designer and builder early on, you can set the stage for successful collaboration. This allows each expert to contribute their unique skills, ensuring that your money goes into materialising well-informed decisions and achieves a better outcome than going at it alone.
Optimise How Your Money Is Spent
Communicate Your Goals Early And Clearly. We cannot over state this. Start by telling your builder exactly what you want to achieve and how much you have allocated in your budget. If a 100m2 meter addition is your target, tell your builder. Or, if you don’t know how big it needs to be, be clear about exactly what you want in your home so the builder can advise an effective size. But be open to the possibility that there may be certain limitations based on the nature of your home.
There are instances when your goal may not align with your target project spend. By communicating your goals early, you avoid a design trial-and-error that can undoubtedly be costly. Ultimately, the goal is to align your project brief with a realistic targeted project spend and then engage the building designer to draw said brief. This is the most efficient way to work towards a realistic and affordable outcome.
Embrace Feedback. Professionals know best. If both your builder and designer suggest a particular approach, listen to their advice. Closing yourself off to what they are saying may mean having to learn the hard way and needing to go back to the drawing board later in the design process.
Building designers and builders have cultivated working relationships with consultants and councils as they are usually in communication daily. This means they are equipped with the knowledge of what is achievable so take advantage of it. What you want to design may not be within planning guidelines or may not be buildable with your budget. What they advise is meant to get you further in your design journey and help you stay within your spending limits.
Define Your Priorities Effectively. What is your highest priority? What do you want to achieve from your renovation? Is it about more space, more storage, or overall livability? Emphasising your priorities helps builders and designers tailor their approach to best suit your goals.
Aim for a smart design. Certain design choices keep your build affordable. Smart design examples of a renovation and addition project may include the following:
- Putting the wet areas in the new addition footprint.
- Avoid adding wet areas within the existing ones.
- Avoid major remodeling of the existing footprint.
- Keep the roof design simple.
- Consider dropping ceiling heights to avoid over-engineering, an example of this is ceilings over 3.6 meters attract more stringent bracing requirements.
- Avoid huge openings to eliminate the potential for structural steel. Consider having small breaks between larger windows to allow for structural load points over short distances
Raw talk – A Builders 2 Cents On Modern Design and Interiors
There is a reason that building costs have skyrocketed. These price hikes are not just limited to material and labour increases. Beautiful and architectural design images and inspiration pull at our heartstrings and make us believe that we need the latest on-trend space.
Instagram and Facebook have influenced interior design and although it is creating a beautiful trend of amazing homes, they come at a premium price due to the technical nature and additional engineering needed for all these bells and whistles.
The reality is that you don’t need cathedral ceilings with exposed trusses, steel frame black windows with double glazing and 2 pack joinery in your laundry. These are of course luxuries that are nice to have but should be the first thing you cut when looking to lower your build cost.
Traditional design with modest internal finishes will still give you everything you want out of your home, you might not get 10k followers when you post it on social media though?
Food for thought
Now armed with the knowledge of how collaboration, efficiency, and effective communication can optimise your budget, it’s time to take action. If you’re serious about achieving the most out of your budget, Download our FREE guide “6 Essential Things You Must Do For A Successful Home Renovation” today and take the first step towards achieving your goals.
