Should I tell my builder & designer my budget?

Simply, Yes

But before we even go any further, do you really know what your budget is?

Have you been to your bank, mortgage broker, bank of mum & dad or others to know exactly what you can afford?

If you haven’t, you should probably find this out before going much further in your construction journey.

Get a gift for investments and bank deposits. Piggy bank is happy with its wealth.

Back to the original question you came here for,

Yes, you should definatly let your builder & designer know your budget.

You don’t have to reveal it on the first interaction.

And you don’t have to give the exact amount, it can be within a range, for example ‘we have a budget in the $450-500k range’.

Prioritize your vision, needs & wants

From there a trusted designer & builder can work together to optimize & prioritize your vision, needs & wants to get the best result to meet your budget.

If you withhold or lie about your budget it is quite common to find you end up with a home design that is going to cost up to 50% or $200k more than you expected,

and your dreams are shattered before they begin,

plus you have now wasted all that time & money on plans you will never use.

Our broker just called with some bad news

Focus on other points of value, not solely on the final price.

A common concern I hear from people is that by telling their builder their budget they are going to rip them off now that they know how much you can spend.

And I fully understand this concern, as over the years many dodgy builders have tarred the brush of the good builders who are out there.

If this is your concern though, once deciding which builder you are to use, focus on other points of value, not solely on the final price.

And then finally, ask this question to yourself…

‘If you do not trust your builder not to rip you off, why are you entrusting them with overseeing the responsibility of what will likely be the biggest financial investment you will make in your life?’

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