When homeowners find out – often with total shock – that their expectations for their renovation or new home project don’t match the reality of its cost, a readjustment has to occur for them to keep going on their journey.
The challenge is that many homeowners often wait far too long to get to this point of readjustment.
They hop on a train towards their destination (that is, their new or renovated home), without checking that they’re on the right train. It’s only several stops along their trip that they check, and discover they’re on an express train to somewhere they didn’t mean to go.
So, how do you avoid this? How do you avoid the hurt of derailing a train (ie your project) and it ending in disaster?
Simple. Get your expectations meeting reality as early as possible. If you can readjust early, then you can hop on the best train for you.
Part of this is working out the cost of your renovation or new home. Homeowners often feel this is a one-step process, however it’s definitely not.
This is how Amelia recommends you source costing information on your new home or renovation project … and when. And then manage your budget and spending along the way.
There’s several steps, and in this podcast, we move through them one by one …
Step #1: At the very start
Step #2: To help you choose the best design concept to move forward with
Step #3: Before you lodge for your Council Approval (DA, Development Application, Development Approval)
Step #4: Before you get Building Approval
Step #5: Before you sign a contract with a builder
Step #6: During the construction project
Step #7: Before making the final payment
If there’s anything you take away from this season of the podcast, Amelia would love it to be this …
Determining what your project will cost is an incremental process.
You set your budget at the beginning, and you keep testing and adjusting as you go. Providing more information, resolving more detail, and finding out cost estimates along the way.
Amelia has said it before, but it’s literally like moving through a funnel … one that gets narrower as you go … and moves you towards where you want to get to as you sift and filter all the info you need along the way.
Listen to the podcast to learn more about these steps, how to get costing information, and who to talk to.
Links mentioned in the podcast
Definition of Provision Sums and PC Items: http://www.build.com.au/prime-cost-and-provisional-sum-traps
This season, Undercover Architect has a podcast partner: Kiiko LED.
Kiiko LED is customisable, DIY, LED strip lighting, that you can order online to your specifications, for your needs and project.
Kiiko LED is founded by Craig Thomas, who Amelia has personally had the pleasure of working with for over 12 years now, in her own projects, and in client projects.
And so Amelia has been able to organise with Kiiko a fantastic UA Community only offer. If you head to their website at www.kiiko.com.au/undercoverarchitect you’ll be able to access a $25 discount to use on your first order.
Check it out, and start building your Kiiko LED strip lighting now!