Budget
I’d like to renovate my house – What I should I do first?
Decide on your budget! This is the single most important part of deciding to build or renovate. Why is it so important?…because you need to be able to tell the builder how much you have to spend. As the builder, we like to be included right at the beginning of the process, before money is wasted on designer fees for something that ends up being unaffordable. Spencer Constructions is at the coal face for construction costing, so we can help you with your budget / costings and will be able to help you determine if your expectations are realistic. Once budget is established, we can help you find a designer that is perfect for you and then the renovation can be designed to fit within these parameters.
Included in your budget, we recommend that you keep a 5-10% contingency. This contingency allows for costs that weren’t expected eg. hidden asbestos etc. You may never use this buffer, but it is good practice to have some money available if some surprises do come your way.
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Note:Be wary of m2 rates provided by well-meaning friends, colleagues, designers and builders. Whilst some might be reasonable, custom work deems it’s never a ‘one size fits all’ scenario.
