Should Price Be a Major Factor When Building?
September 11, 2017
Budget

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The relationship between the quality of materials and cost makes the price a critical element in the construction of any structures. In most cases, clients will look for a low price. However, it could have an adverse impact on the quality and safety standards of the entire project.

The price is one of the factors that we should consider when building a house or an establishment. Inadequate and irrational budgets usually lead to projects that prefer sustainable alternatives and cheaper options.

Some clients have fixed budget, and due to a different reason, they cannot exceed beyond that budget. Hence, expect them to maintain strict cost control just to deliver the project according to the plan. Working on a limited cost might reduce the beneficial features of the building that may result in more expensive maintenance costs later. For example, a roof repairer in Perth might not be able to give the exact quote until he/she has assessed the work required.

What to Expect When Building:

Remember that following a proper building design will give you value for your money. We should consider the future energy and maintenance costs that a house or a construction project will incur. However, paying a high price for materials, labor, and professional design will not guarantee quality.

At the onset of the project, realize that you can exceed the estimated budget by 10-20 percent. It will cost you more than you expect. There will be unforeseen costs as the construction project push through. As much as possible, stick to the budget you have set to avoid financial stress.

Aside from the materials and construction workers, building a structure also requires you to acquire the necessary permits which have fees of course. A building permit, occupancy, sewer, and electrical permits are the most common among others.

The cost will vary according to the rules of your state or country and the size of the project. Likewise, utility cost should be part of your budget especially if you don’t have access to water and power sources.

The construction contract should specify the type and cost of materials to use so you can come up with an accurate estimated cost. It will include details and blueprints of the building, the roofing and insulation materials, framing styles and other technical aspects.

Building and construction are indeed a messy process, and you are more likely to encounter surprises along the way. Thus, it is always best to have a buffer to shoulder the unexpected expenses. Have an emergency fund on top of the estimated cost.

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