Planning A Building Budget
Depending on your budget you will be focusing your investment in different places. You will find that with a more limited investment more of the capital will go towards construction, as a general rule your construction will be around 35% of your total budget and you will want to allow a run over of a minimum of 5% for emergencies and changes that will need to be made throughout the build. That is often a very scary premise as building works can be expensive and have a high possibility of running in to problems, we like to be able to alleviate these worries by co-ordinating with the building contractor. This way you are able to see how the project progresses without being responsible or beholden to the builder to provide information that you will not have the expertise to provide.
It is very important to remember your building quote is not your interior design project, so if you already have a building quote of around £35,000 you will be looking at a rough overall budget of £100,000.
The kitchen is a wonderful investment for projects and is usually given the lions share of the rest of capital, between 17-20% of your budget is usually allocated here. Most of the other rooms receive between 3 and 6%, you will want to allocate more if you are looking at a large amount of bespoke furniture. Media rooms should be allocated at least 6% of the budget as these rooms benefit from an investment in technology.
If you are still a little lost on where to allocate your finance when doing an interior design project or a refurbishment you can sign up for our mailing list and receive your Client Investment Guide, this handy guide breaks down different budget allocations so it’s quick and easy to see how much you should be spending on your project.
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