Budget estimate is one of the most important factors that needs to be done with precision before beginning the construction of a house. The amount of money, that you intent to spend for the construction should be decided in advance. Bank loans or money borrowed from other means, its monthly installment of repayment and the duration should be considered while preparing the budget. The duration of the construction too should be planned as the budget or the construction costs are directly related to it.
The detailed estimate of the construction should be collected from the engineer or the architect. Besides the construction of the structure, the amount required to build the boundary wall, well, out house, store room and landscaping too should be included in the budget. The construction of a house gets complete only when all these are built or arranged. The designer’s remuneration and the various fees that have to be paid to the government too should be considered while preparing the estimate.
The specification details have to be noted while preparing the estimate, as the variations in the cost of the building materials, depending upon its brands, may result in fluctuating budget. For instance, the cost of materials such as floor materials, switches and water taps varies with brands. Similarly, such variations could be seen in the cost of multi wood, marine ply, MDF and its paint finish that are mostly used for furnishing jobs. While constructing a budget house, it is important to realize these material specifications and choose only those materials that fit our budget.
The furniture that is required in the house should be decided in advance. It must be decided whether your old furniture, wooden shelves and cupboards are fit enough to be used in the new house as it is, or require a retouch to suit the design and features of the house.
People often complain that the cost of construction has gone up significantly than the estimated budget. This happens due to lack of proper budgeting and its execution.
These are some of the most important points that need to be kept in mind while constructing a house:
• Prepare the budget of the house in advance.
• The amount of money required for the boundary wall, well and landscaping should be included in the budget. Besides, the designer’s remuneration and governmental fees too should be added.
• Understand the specification details while preparing the estimate.
• Discuss with the designer to decide about the areas where you intent to cut down the budget.