Establishing your true budget before you embark on this exciting adventure is the most important thing you will do to avoid disappointment.
As they say, dreams are free, but in reality you need to carefully analyse what you have to spend so that there are no unwelcome surprises along the way. You've decided that you'd love to build a new home and enjoy all the benefits of a home that is specifically built for you. The big question is how much will it cost? Or more importantly, how much do you have to spend?
To begin with, establish what your total project budget is. What is the total amount you have to spend to get you crossing the threshold of a fully finished house on established grounds? Now that you have this number written down you can calculate what you have to spend on all the elements that make up your dream property.
There are a number of significant costs prior to commencing the construction of your home. This is where a relationship with an established builder becomes very important so that you can seek the best advice. For example, when looking to purchase land you need to consider extra site costs such as excavation and retaining, covenants, local council requirements, services and location.
Once you have a clear idea of what's needed prior to construction, put a figure on establishing and landscaping your grounds after the house is finished. Now you have a true figure left for your construction budget and your builder can work with you to get you the home you want within that budget. House size, shape, specifications, kitchens, bathrooms and other factors will determine the cost of your home.
What you really want to know is that you can move into the home you've always wanted, on time and within your true budget, with no surprises.
