Without proper planning and clear communication, the construction of your dream home could drag on for months, delaying completion.
This could result in extra expenses, a full-on cost blowout, and possibly even a legal dispute — far more stress than you signed up for.
With this in mind, how can you guarantee a smooth build while staying within your financial means?
Rule #1: Get Real About Your Budget: It Will Help You Optimise Every Dollar
We’ve all got financial limitations; the planning stage of a custom home is not the time to play fast and loose with yours.
It’s easy to get lost in the excitement of it all. But all those little details and enhancements add up, and if you’re not careful, it could spell the difference between a solid finished home and an extravagant unfinished one.
It’s crucial to get Real (with a capital R) about your budget, and even more important to give your builder a precise figure to work with, or at least a precise range.
Think of your budget as the bumpers of a bowling alley. Do you really want to lower them and risk the gutter when there’s this much at stake?
Rule #2: Push for a Detailed Quote Even if It’s a Little Awkward
All honest and reliable builders go into meticulous detail with their quotes, showing you precisely where every dollar of your budget will go.
If a prospective builder comes back to you with an overly simplistic quote, find the nearest exit and escape. Or if they seem genuine and you want to give them the benefit of the doubt, ask them to flesh it out.
To be fair, a quote that lacks detail could mean the builder was working with incomplete information. Which means what exactly? It’s absolutely your responsibility to thoroughly communicate your needs when asking for a quote.
Either way, a little effort and awkwardness now will save you a lot of disappointment in the future.
Rule #3: Be Careful of the Cheapest Quote: It Could Be a Headache in Disguise
The cheapest quote is rarely the best one.
Often, a quote is low because the builders are planning to use subpar materials and cheaper, less-experienced tradespeople.
This will likely cost you more in the long run, that whole “poor man pays twice” adage striking again.
Your builder might even have left off essential details to keep the initial figure looking as slim as the paper it’s printed on. Such details will likely rear their heads midway through the project, leaving you with a nasty financial surprise.
Rule #4: Divide the Project Into Clear Stages With Clear Expectations
Cost blowouts are often the result of misunderstandings that prompt last-minute changes.
If either you or your builder miscommunicate a key detail at the start, it might be nearly impossible — which translates to “heinously expensive” — to adjust the build once it’s underway. What’s more, it could delay completion by months.
Breaking the project down into clear-cut steps is a great way to ensure both parties are on the same page about what is happening and when.
Beyond a clear construction schedule and scope, securing a fixed-term contract is another great way to set clear expectations from the get-go and mitigate risks.
Rule #5: The Biggest Golden Rule: Honest Communication
Clear, honest communication is the best way to prevent your dream of a custom home from becoming a nightmare.
You’re entering a partnership with your builder; they’re not some opponent to outwit.
If you’re 100% clear on your budget and goals and trust each other, you’ll both be aiming towards the same North Star. This will help you steer clear of financial blowouts and unnecessary stress.
Of course, this is just the tip of the iceberg when it comes to choosing the right builder. That’s why I’ve created this comprehensive guide for you to download.
Build With Confidence – Discover our 10 Tips for Choosing the Right Builder
It’s completely free and will help you avoid steering into the many other pitfalls that can emerge when building a custom home.
