3 Tips for Managing Your Building Budget

If you’ve got plenty of capital and you want to splash out, fantastic! Let us help bring your wildest dreams to life with a bespoke build! However, we know this isn’t the reality for everyone. Building a new home is a massive investment, so if you’re working to a strict budget, we are here to help you through it and provide realistic, considered options that work for your personal requirements. Whether you’re a first home buyer, an astute investor, or those simply just wanting to get the most bang for your buck – we understand the importance of running a tight ship when it comes to your finances.

As inflation rises and so too with it, the cost of living, everything seems to be getting more expensive by the day. Being financially conscious is more important than ever and you can apply the same thinking while building your home too. With responsible prioritisation, we can help build an exceptional quality new home that fits within your budget – all without sacrificing on quality. Below we’ve detailed three key tips to help make sure you’re getting the most value out of your dollar.

  1. Know what’s included.
    Knowledge is key. The number one best thing people can do when it comes to build a new home is forming a detailed budget. It’s essential to know exactly what is and isn’t included in your contract in order to avoid unforeseen costs piling up as the build progresses. Not sure on something? Feel a little overwhelmed? Don’t worry! Our experienced sales team are here to help you every step of the way. No question is too big or too small, and we’d rather go over everything with a fine-tooth comb than create headaches down the track. We’re also more than happy to assess your block before you even get started to provide any tips and pointers around things you might need to consider while preparing your budget. As part of your first inquiries with your Modular WA sales consultant, we will run through the entire process with you and give you a good initial insight as to what you can expect from start to finish.

  2. Prioritise the non-negotiables
    Perhaps the most important thing to weigh up during the early stages of the build process is establishing what your non-negotiables are. What needs to be taken care of from day one? What items can you add later? Structural components should always be your first consideration from this point of view. You can always replace your light fittings or install some overhead cabinetry later without much hassle but you’ll run into all sorts of headaches if you feel like you need some bigger windows or a higher ceiling later on!

  3. Future-proof and plan ahead.
    Expanding on the previous point, you may not currently have the means to include everything on your wish list, but are there any items you can plan ahead for? Perhaps consider pre-installing pitching plates externally so you can attach a veranda later or include provisions for future air con installations. For those in the later chapters of their lives, or intending to live multi-generationally – is this a home you’ll be “aging into”? Consider accessible features such as wider doorways and structural provisions for future grab rails. These are all things that can save you time, money, and trouble in the long run – without blowing the budget too far out of the water.

What can i do about getting finance?

Unsure about finance options? We can help with that too. Our sales team can connect you with our tried and tested brokers who specialise in providing modular finance solutions. Our trusted brokers have a healthy relationship with a number of banks and financial institutions, meaning you won’t need to do the legwork searching for a suitable funding provider. Less rejected applications means less stress for you to endure, and more time to spend focusing on the more fun details like what colour the walls should be!