Last week we spoke about all things financial, but our story doesn’t end there. Completing a custom budget for our clients build is just the beginning of a very long road together. It’s one thing to set a budget, but another thing entirely to manage the budget throughout the building process.
Our team works closely with the subcontractors and vendors to ensure they are aware of our client’s budget before the clients arrive to make selections for their home. It can be overwhelming to pick out all the intricate details for a home. Giving our customers an allowance and effectively communicating to the vendor provides parameters to follow, which ultimately makes the selections process easier.
Inevitably, home construction has some unforeseen expenses that might occur. We work closely with the client and communicate overages as soon as we are made aware of them. We will work together with the client to come up with affordable alternatives, if available, or let the customer approve the additional expense if they decide to stick with the original scope of work. Our designer also works with the customer from concept to installation to come up with creative interior design elements that are appealing aesthetically but still fit into the allowance given in their budget.
Having a monthly transparent budget available to our clients, that includes a projection for the total build cost, provides our clients with a real time access to how they are doing with their budget. It is important to see the ups and downs of the overall budget, rather than showing just a few categories of the build that took place in a month. This is a little extra work on our part, but it’s a commitment we make because we know it is important. Our accounting department is available to review the budget and answer any questions that might be of concern. This can be done over the phone, via email or in person at our office.
A weekly update is sent to our clients that includes the upcoming dates their budget and draw will be prepared for their review. By keeping the communication open throughout construction, we are able to address budget and financial concerns before they become a problem.
Learn more about how we manage your money and build our homes by following us on Facebook, listening to our radio program every Saturday morning at 9:00am on Sunny KKOV 1550 and at 1pm on KPAM 860AM or in our radio archive and reading “Ask The Builder” in Vancouver’s Columbian newspaper on Sunday in the Real Estate section or on our website.