Search the Community
Showing results for tags 'contigency'.
-
I’ve had varying conversations and trawled hundreds threads of built cost /m2 to try and rationalise my budget and reduce my overall anxiety towards price and also to be realistic. I think it’s important to be prepared upfront and if its not going to work reduce the house size from the outset. I’m shooting for £1200/m2 because it suits my ‘ideal’ budget of 240k for a 200 m2 house, which I believe to be a decent size, to suit my family, I have also allowed the obligatory 10% in reserve which will be ring fenced and only come into play if required. So theoretically you could say I’ve allowed £1320/ m2 But my concern is that it is my 1200 is driving that budget and house size. I’m aware that I wont know until the end that actual costs which could be much less going by some peoples build…but also could be much more. (I doubt I would breach 1700/m2). As much as I’d love an answer to exactly how much it costs I know those answers are purely subjective. But what I do want to understand is how others have approached this from the outset? Did you wing it and pray for the best? Did you plan thoroughly and then knowing you wouldn’t meet your budget reduce the house size before starting or did you plan to use that contingency? For context. My plan is to use a kit supplier to supply and erect a closed panel system, whether it be SIPS or Valutherm, get it wind and watertight then proceed with managing my own subcontractors. I don’t want the build to last years…ideally no more than 12 months. I will also correctly plan the build, schedule, cashflow and take the time to do this before even thinking of breaking ground to ensure we can derisk and identify as many problems beforehand rather than on the fly. I work full time, so it will be very difficult and we are prepared for this, ideally I’d use a main contractor but I want to avoid this to save costs…or is this just a false economy? So really….I’m asking how long is a piece of string??! I suppose my worry/anxiety/ panic is based around…what happens when it costs more…how did you deal with it. If you’d been naïve and hoped it would cost less but it cost more how did you remedy that situation?? Any pearls of constructive wisdom…greatly appreciated.
- 39 replies
-
- contigency
- cost
- (and 4 more)