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How To Keep Your Building Project On Budget

How to Keep Your Building Project on Budget

Whether it’s a beautiful new-build home or a stunning extension, the vast majority of building projects have a budget. That could be a specific amount of money you’ve set aside or just a ball-park figure that you’d rather not exceed.

Whatever the case, staying on budget is an important factor for most people. But how do you do that without compromising on quality? Read on as we discuss some of the best ways to stay on budget.

1. Detailed drawings and specification

Architectural drawings and designs are a critical first step for any building project. That said, they’re also sidestepped by a number of customers and contractors. Typically, this is done to cut a corner and save a bit of money early on.

But what if those drawings and plans could actually save you money in the long run? By combining architectural expertise and building know-how, it’s possible to create detailed drawings with precise specifications which can prevent mistakes and setbacks to minimise costs overall.

2. Use a quantity surveyor

Quantity surveyors have a wealth of knowledge about construction costs and contracts. Having them involved in your project is a sure-fire way to keep it on budget. Put simply, they can provide a non-biased cost for each part of your building project, allowing you to make a more informed decision when tendering to contractors.

While they may add to the cost of the project – as with architectural drawings – they’ll essentially pay for themselves in the long run.

3. Willingness to compromise

If your budget is finite and all important, a willingness to compromise can be key to helping you stay on track. Most importantly, we don’t mean compromising on quality.

An experienced builder with architectural knowledge can help you make small, considered changes to reduce the overall cost of your project. Whether it’s tweaking the size of windows or making a small change to the materials used, these smart adjustments will help you reduce costs without having to use sub-rate contractors, for example, so it actually maintains the quality of the build.

4. Value engineering

Another way to stay on budget with your building project is through value-engineering. In short, this refers to the process of achieving your vision at the lowest price. Crucially, it doesn’t involve cutting corners or compromising on what you actually want. Here are some examples:

  • Finding the best value materials for a specific requirement without changing the look or longevity
  • Choosing the lowest price contractor who can still complete work to the highest standards
  • Creating watertight contracts with each and every subcontractor so the work is guaranteed with no unexpected costs

Keep your project on budget

At Milestone Builders, we’ve developed our own unique method to not just stay on budget, but provide the maximum value for your project. The Milestone Method is a pioneering approach to the design and build process which ticks every box to achieve your dream build.

It all starts with a consultation, where we’ll review your budget and vision, assess the practicalities and discuss your options. To find out more or book an appointment, simply contact our team on 0114 489 4425 or email hello@milestonebuilders.co.uk.

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