Top 5 reasons the budget can run out of control

Even when carefully planned and managed, self-build projects tend to come under financial strain – not so much because of the builder but because of you, the client.

There is no doubt that material costs, from steel to timber, have gone through the roof. And while this is a serious issue for anyone who wants to start building now, price increases are always a risk. A risk that should be controlled through a clause in a contract. On that basis, material costs will be absorbed by the builder over the lifetime of that contract.

If there is no contract and you are hiring trades directly, price volatility is one of the key risks you take on by deciding to project manage the build yourself. This means being able to manage cash flow to pay trades on time, and where required, order items in advance to secure an acceptable price.

Keith Kelliher

Written by Keith Kelliher

Keith is a quantity surveyor with over 20 years' experience and is the founder of Kelliher & Associates Quantity Surveyors.

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