WE COLLABORATE TO DELIVER A GREAT RESULT
Understanding what you can afford before you engage any builder or designer is critical to set everyone on the right path. Keeping money chat close to our hearts is so ingrained in our Kiwi culture, but when it comes to something as life-changing as a home extension, it's important to consider what you can afford, and we can work within that budget to bring your vision to life.
So let's keep it simple and explain why it's so important for you to determine your budget early:
- You’re about to spend tens if not hundreds of thousands of dollars on your biggest investment, your home. Whether you’re financing or have the cash, you need to know what your capped budget limit is.
- Most projects require design and consent, which can cost between $10-$30k+. The building contractors will need these plans and specifications to accurately price your project. So, if you know your capped budget we can collaboratively work towards designing within your budget, to ensure you don't spend a large amount of money on a design you can’t afford to build.
- The best estimate for the cost of your home renovation is the formal pricing you receive from your building contractor after the design has been determined. Therefore, your budget is the only figure that matters to help get that price within what you can afford.
- Ultimately most building contractors are good people that want to work hard for their client to deliver the best result within your budget. It's detrimental to everyone to be designing and building something you can’t afford.
Now you’re probably wondering how you determine your budget. And this may be easier to answer than you know. Your bank may struggle to determine your affordability and pre-approve finance until you have a formal price from your building contractor. So what should be your first step to determine your budget?
NZ Proud works closely with a mortgage broker who can help you determine an estimated budget before your first on-site consultation with our Contracts Manager. Once we have established an estimated build cost from plans and specifications, that broker will go to work for you to help acquire the right lending option to suit you and your financial needs.
Our advice is to take the following steps when you are exploring a renovation or home extension:
- Contact NZ Proud directly via our website www.nzproud.nz and submit a detailed enquiry so we know what your dream home extension or renovation goals are.
- NZ Proud will connect you with a very supportive mortgage broker who in a short period can help advise on a possible budget for your project.
- Then the NZ Proud team will complete the consultation brief & collaborate with our Architectural Designers at Pou Architecture to produce quality plans and specifications.
- From these plans, we’ll provide a detailed estimate of your project which you take back to the broker to investigate your lending options and help acquire the right loan.
- Once you have pre-approval we can get to work on delivering a quality home extension or renovation to your home and help improve the lifestyle for you and your family.
We know it can be a little complex to figure out what any building project is going to cost and what you can afford. To us it’s not always about designing or building big expensive homes. We work within your budget, which is why it pays to be open about what you can afford, so we can collaborate to deliver a great result on or under your budget that we're all truly proud of.