House Planning Help Podcast
HPH241 : 10 tips for better budgeting on a self build – with Ben Adam-Smith
Feb 8, 2019
Ben Adam-Smith, an expert in creating detailed and realistic budgets for self builds, shares 10 tips for budgeting. They discuss the importance of a starter budget, dealing with provisional amounts, allocating costs for various trades and suppliers, setting a contingency, using a quantity surveyor, and making smart financial decisions. They also cover challenges in preparing strip foundations for a masonry build.
21:34
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Quick takeaways
- Continuously refine the budget as the project progresses, making adjustments for provisional amounts and creatively repurposing spaces.
- Consider all expenses when determining the budget, including property value, build cost estimates, furnishings, and architectural design fees.
Deep dives
Tip 1: Starting with a budget and fine-tuning it
A crucial tip in self-building is to establish a budget from the start and continuously refine it. While budgets may be tentative early on, as the project progresses, more detailed information becomes available. Adjustments may need to be made, particularly for provisional amounts allocated to certain items. For example, low allocations for bathrooms may lead to creative solutions, such as repurposing a bathroom into a storage room. This tip highlights the importance of starting with a budget and actively refining it as the project progresses.
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