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How to ensure your project doesn’t go over budget

Staying on budget is often a top concern in the overall building and project process. From renovations to new builds, sticking to your original budget is an important factor for a successful build. But it’s easier said than done. There are a number of factors that affect whether a build will stay under budget or go over budget. Some of these are outside of your control, but many of them can be limited.

From a project being delayed to new materials being required, sticking to your budget can sometimes feel like an impossible task. However, sticking to a set of core principles can help make the process much easier.

At Sydney Carpentry Group, we believe in offering competitive rates as well as ensuring our work stays within budget. As structural framing is often one of the first steps in a new build, we understand that what we do sets the tone and pace to whether a build stays on budget. This is one of our top priorities!

So, how can you ensure your project doesn’t go over budget? Well, here’s how!

Do your research

As with any building project, doing your research is paramount to it being a success!

Select your builders, design, and materials with care – everything has a cost. Choosing the right builder is super important for staying on budget. It’s critical that while you don’t select the cheapest business, as you want to know you’re in reliable hands, you also don’t want to give all your money to a company that doesn’t deserve it.

Selecting a builder or carpentry business that balances cost with quality, will ensure you remain on budget while still receiving high-quality craftsmanship.

Honesty and open communication

To ensure you remain on budget, you also have to understand whether your budget is reasonable and feasible.

Having an honest and open chat with your builders will help you understand exactly what things will cost and where you may be able to save money. It’s also important you are honest with your builders about exactly what your budget is, so they know what they can do and are able to help advise you throughout the process.

Honest and open communication will help make every project run smoothly from start to finish.

Understand your priorities

While we can all dream that every single detail we want included in a project can be done for the money we have at our disposal, often this isn’t the case. The majority of the time, you will have to leave some things out or opt for the cheaper alternative.

Understanding what your priorities are will help you decide where to spend your money. If you love to cook, you may decide to spend more money on the kitchen design than somewhere else, for example. At the end of the day, it’s all about identifying what will bring you the most happiness.

Make sure you understand your priorities at the design stage so you’re not making any last minute changes, as this will cost you more money rather than save you money!

Keep some room in the budget for disasters

As hard as us builders and carpenters try, sometimes it’s inevitable a project will go over budget. This is why it’s important you don’t plan a project that reaches your maximum budget limit. Maintaining some flexibility in your budget to account for disasters will ensure that if they occur, you don’t have to stress.

This is once again where communication is important! Collaborate with your building team to determine how much leeway you should cater for and create a budget around that.

The most difficult part of sticking to a budget is often trying to create it in the first place! Work with your team as they have done this countless times before – they’re the experts.

To keep yourself out of danger, always remember to be realistic. There’s no need to overextend yourself or try to do too much with a limited budget. Focus on your priorities and what makes you happy and your project will be a success.

If you are looking for a top carpentry business in Sydney don’t look past Sydney Carpentry Group! We have helped and collaborated with countless clients to ensure their dreams become a reality and stay on budget. To see the projects we’ve completed recently, check out our portfolio or visit our Instagram or Facebook page.

Carpentry is our passion. Contact us today to find out more!

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