This episode uncovers question 3: What can your budget afford? 

Ugh … money. At some point it was going to get here, wasn’t it?! 

Budget is the main thing that concerns homeowners embarking on their project. What will my build or reno cost me? And will it blow out along the way?

In the last financial year (2015/2016) Australians spent a record $7.7 billion on home renovations according to the latest ABS figures. 

That’s over $150 million a week.

The figures for new homes are similar.

When most of us tackle a renovation or new build, we have a figure in mind about how much we’d like to spend on our project. So our research and preparation becomes a study in what our money will buy us. How far we can stretch it, and whether it’s enough for the dreams we have for our home.

Amelia starts with this advice. Do not ignore your budget. Do not avoid setting one. Doing this work early is one of the most significant things you can do to preserve sanity for your project, and not have it run away from you. 

It may sound obvious. However, the countless conversations Amelia has had with homeowners that have got terribly awkward when she's asked “OK, so what is your budget?” shows her the gaping hole in how we plan our projects!!

Set a budget early. Of course, it won’t be perfect, or fixed, but don’t let this stop you! Start crunching the numbers and determining rough estimates for your plans. Then you can finesse and firm up as you progress along your journey. 

There are many free online calculators you can check out. This is a fave:

Home Design Directory

And cost guidelines are also useful for new homes:

Construction Cost Calculator

Flip your thinking …

Your budget is actually what is enabling you to undertake this project. Many homeowners see it as a limiter, because it never feels like enough to do all the things they want it to do. 

This may sound a little woo woo … but if you see it as a limiter, you’ll be fighting it every step of the way.  

Instead, think of it as the tool, the facilitator, of your build or reno. It’s fantastic that you can access these funds to create a home for your family! Don’t be scared to talk about it, and keep tracking it the whole way through. Educate yourself on what things cost, how to stretch your budget, and empower yourself to invest it well.  

Amelia is a firm believer that your home can be great, whatever your budget.  

How do you get bang for buck?
Get professional help
Take your time in preparing
Be aware of the costs in the things you don’t see

Head to the podcast now for more detail on my tips to get bang for buck in your project. 

FOR RESOURCES MENTIONED IN THIS PODCAST CLICK HERE

This episode uncovers question 3: What can your budget afford?&nbsp;
Ugh &hellip; money. At some point it was going to get here, wasn&rsquo;t it?!&nbsp;
Budget is the main thing that concerns homeowners embarking on their project. What will my build or reno cost me? And will it blow out along the way?
In the last financial year (2015/2016) Australians spent a record $7.7 billion on home renovations according to the latest ABS figures.&nbsp;
That&rsquo;s over $150 million a week.
The figures for new homes are similar.
When most of us tackle a renovation or new build, we have a figure in mind about how much we&rsquo;d like to spend on our project. So our research and preparation becomes a study in what our money will buy us. How far we can stretch it, and whether it&rsquo;s enough for the dreams we have for our home.
Amelia starts with this advice. Do not ignore your budget. Do not avoid setting one. Doing this work early is one of the most significant things you can do to preserve sanity for your project, and not have it run away from you.&nbsp;
It may sound obvious. However, the countless conversations Amelia has had with homeowners that have got terribly awkward when she's asked &ldquo;OK, so what is your budget?&rdquo; shows her the gaping hole in how we plan our projects!!
Set a budget early. Of course, it won&rsquo;t be perfect, or fixed, but don&rsquo;t let this stop you! Start crunching the numbers and determining rough estimates for your plans. Then you can finesse and firm up as you progress along your journey.&nbsp;
There are many free online calculators you can check out. This is a fave:
<a href="http://www.homedesigndirectory.com.au/calculators/building-cost-estimates.php">Home Design Directory</a>
And cost guidelines are also useful for new homes:
<a href="http://www.bmtqs.com.au/construction-cost-table">Construction Cost Calculator</a>
Flip your thinking &hellip;
Your budget is actually what is enabling you to undertake this project. Many homeowners see it as a limiter, because it never feels like enough to do all the things they want it to do.&nbsp;
This may sound a little woo woo &hellip; but if you see it as a limiter, you&rsquo;ll be fighting it every step of the way.&nbsp;&nbsp;
Instead, think of it as the tool, the facilitator, of your build or reno. It&rsquo;s fantastic that you can access these funds to create a home for your family! Don&rsquo;t be scared to talk about it, and keep tracking it the whole way through. Educate yourself on what things cost, how to stretch your budget, and empower yourself to invest it well.&nbsp;&nbsp;
Amelia is a firm believer that your home can be great, whatever your budget.&nbsp;&nbsp;
How do you get bang for buck?
<ul>
<li>Get professional help</li>
<li>Take your time in preparing</li>
<li>Be aware of the costs in the things you don&rsquo;t see</li>
</ul>
Head to the podcast now for more detail on my tips to get bang for buck in your project.&nbsp;
FOR RESOURCES MENTIONED IN THIS PODCAST <a href="https://undercoverarchitect.com/podcast-3/?el=omny-podcast-3">CLICK HERE</a>

If we haven’t met before, I’m Amelia Lee, the architect behind Undercover Architect: an online business to help and teach homeowners like you how to get it right when designing, building and renovating your home.

Undercover Architect is all about giving you access to the industry knowledge and insights you need to avoid the mistakes and dramas that can cost you thousands, tens of thousands and even hundreds of thousands of dollars. And it’s about levelling the playing field, so that the world of renovating and building doesn’t seem so mysterious, and you can be the active driver in your project, navigating it with know-how and confidence.

Undercover Architect helps and teaches homeowners through this podcast, the website, and online courses and programs, including my flagship program, HOME Method. I truly believe that when you know the questions to ask, the steps to take and the best way to create a home that works, feels great, and that you feel great in, you can enjoy the process of building and renovating, as well as the home you move into at the end of this ambitious journey.

Consider Undercover Architect your secret ally: whoever you’re working with, and whatever your location, your budget or your dreams. For more, head to www.undercoverarchitect.com

If we haven’t met before, I’m Amelia Lee, the architect behind Undercover Architect: an online business to help and teach homeowners like you how to get it right when designing, building and renovating your home.
Undercover Architect is all about giving you access to the industry knowledge and insights you need to avoid the mistakes and dramas that can cost you thousands, tens of thousands and even hundreds of thousands of dollars. And it’s about levelling the playing field, so that the world of renovating and building doesn’t seem so mysterious, and you can be the active driver in your project, navigating it with know-how and confidence.
Undercover Architect helps and teaches homeowners through this podcast, the website, and online courses and programs, including my flagship program, HOME Method. I truly believe that when you know the questions to ask, the steps to take and the best way to create a home that works, feels great, and that you feel great in, you can enjoy the process of building and renovating, as well as the home you move into at the end of this ambitious journey.
Consider Undercover Architect your secret ally: whoever you’re working with, and whatever your location, your budget or your dreams. For more, head to www.undercoverarchitect.com

Get It Right with Undercover Architect

In this episode, Amelia Lee talks all about budgets and why being really clear about your money is crucial to your project

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