By . Architecture. Published at Wednesday, March 28th, 2018 - 13:22:42 PM.
Your home renovation project may well be one of the biggest investments of your life, so understanding costs and controlling risks is of the utmost importance. For successful and happy projects, expectations and available funds have to match. So, what should you consider when contemplating your projects budget
For home renovation works in particular, there are always unknown entities that will vary the cost of a project once the works have started. Therefore, make sure you are prepared with a contingency sum a minimum of five per cent of the contract value is recommended to cover the costs of the inevitable variations. In partnership with this consideration, you be very well advised to have a contract in place between you and your builder. Additionally, if your home is listed, relevant works to the historic interests of the building will be exempt from VAT.
If you like a home design that really inspires, why not enlist an architect to help you turn your dreams into reality? Architects are highly skilled and professionally trained, ready to guide you through the design, planning and construction process of your home project. Whether you are constructing a new building or adapting an existing property, architects apply impartial, collaborative and creative thinking to projects large and small. They add value, whether its maximising light and space, adding functionality, or achieving the best return on your investment. Take a look at our top four benefits of using one to help achieve your home design goals.
Obtaining as much information as possible is at the heart of controlling objectives and risks. To manage your budget and to obtain maximum value, seek to understand the process of building and where your money is going by commissioning appropriate documentation, including drawings, specifications, schedules and contracts. Services connection and alterations can be unexpectedly costly items and should be avoided whenever possible.
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