Often clients are reluctant to disclose their budget to the contractor for fear that this will then give them the opportunity to over quote. However, discussing your budget expectations with your builder can be a really good way of getting the most out of your relationship.
Firstly, explaining how much you have to work with will help your builder manage expectation when you start to discuss the desired outcome for your project. A good builder will discuss different options with you to work within your budget. It is important to have these discussions on site at your first meeting rather than after you receive a quote which completely exceeds your budget.
Once you have discussed your budget, you will be able to make an informed decision as to how you want to proceed. If you have a clear idea of what you want, your builder will be able to assist you with setting a realistic budget to make it work. Conversely, you may decide to change your plans and you can discuss the best options to get the most out of your investment.
Your builder has the experience and industry knowledge to help guide you on your budget expectation and a honest builder will use this information to guide you, not take an advantage of you.
So don’t be afraid to tell your builder the budget you want to work within but be prepared to scale your expectation if needed