The Metrotile Guide to Self-Building – Budgeting

In the second of our three-part series for budding self-builders, we look at how to budget effectively. Managing the finances for your build is one of the hardest things to get right, and the place most first-timers go wrong. Nothing is going to derail your project as quickly and catastrophically as running out of money. Here’s how to keep on top of it:

Be realistic

Over-optimism about costs is where most people go wrong. Don’t assume you’ll be able to get everything for rock bottom prices. As you won’t be a regular customer with your suppliers they may feel little incentive to offer you big discounts. However, do shop around to find the best prices. If you can find a better price at one supplier, you may well be about to negotiate with others and see if they’ll match it, especially if you’re putting in a big order for lots of other stuff at the same time.

Contingency

You should keep around 10-20% of your total budget back in case of unexpected costs – and there are almost always unexpected costs! If you’re renovating you might be able to get away with a lower contingency fund, but if you’re starting at the foundations and working up the chances of overspending are much higher. Groundworks are notorious for throwing up all sorts of unexpected (and costly) problems.

False Economies

When it comes to tradespeople and suppliers, don’t just automatically go for whoever’s cheapest – they may well be cheap for a reason! Make sure you ask around and get a recommendation from someone you trust, if possible. If not, ask to speak to previous customers of the tradesperson or supplier you’re considering. Going for the cheapest price can quickly end up costing you more if you have to pay someone else to come and make good on a bad job or buy replacement materials.

And, whatever you do, never pay the full bill up front! Make sure you pay on delivery or agree a series of staged payments with the last one held until you’re satisfied that the job has been completed to a good standard.

Metrotile’s steel roofing systems are made from the highest quality materials and come with a 40 year weatherproof guarantee. We have a list of approved contractors to give you complete peace of mind about your installation, or, if you’d rather do the work yourself, we have a whole series of free video tutorials telling you just how to do it! For general advice or to find out more, call us today on01249 658 514 or drop us an email.