How to Stay On Budget

If you have just started your design practice, these tips will help you handle the budget on your initial projects
If you’re an interior designer, it is important to understand the client’s tastes so as to determine a realistic overall budget for renovation. Keep in mind that the entire process of renovating a home can become stressful for you as well as the client, if the cost of renovation exceeds the proposed or sanctioned budget. Follow these tips to get the project executed while keeping a constant check on the budget.

Plan the budget

Work out a realistic budget for renovating the home, so that the client can decide upon the costs and determine the extent of renovation.

Divide all the interior items of work into separate sections, such as flooring, false ceiling, woodwork, kitchen and bathroom renovation, and so on, so that the client can assess the budget required for each section of work.

There should be an additional budget of at least 20 per cent for any hidden expenses that might crop up while renovating the home. This could include dampness in the walls or ceilings, damage in the existing electrical wiring, leakage in the plumbing lines or damage caused due to termites.

Finalisation of the design

Once the budget is determined, furnish all the designs and interior details, which should be in tandem with the budget of the client. Working drawings should be released for the flooring, false ceiling and furniture and so on, so that the client can finalise the designs before the renovation work starts at site.

Make sure that the client sticks to the final design and does not deviate from the original plan.

Note: If the client keeps asking for changes once the execution of work has started, it will surely cause delays, with an increase in labour costs and wastage of materials.

Select materials as per the budget

Select all the materials required for the home renovation according to the client’s budget. For example, porcelain tiles, vitrified floor tiles, Indian granite and laminate finishes are cost-effective, while materials such as Italian marble, engineered quartz, veneer or acrylic finishes are used for a high-end home renovation.

Furnish the BOQ (bill of quantities)

Prepare a detailed BOQ with clear specifications of the materials to be used.

The BOQ should include the total square footage of the flooring material that needs to be purchased, the total area of false ceiling, the quantity of woodwork that needs to be carpentered at site and so on.

Additionally, the BOQ should include the quantities of items that need to be purchased, such as the sanitaryware, sanitary fixtures and electrical fixtures. This will enable the contractors to quote a realistic cost for the home renovation.

Appoint an efficient contractor

It is important to take quotes from at least two or three contractors, to get a clear idea about the total cost of renovation.

Appoint a contractor who has previously worked with you to your satisfaction. Alternatively, you can also appoint a contractor who has previously worked with the client, and is tried and tested by them.

Tip: Avoid contractors who have quoted very low. Why? There might be flaws in their quality of work, which would require an additional cost to rectify those flaws at a later stage.

Maintain the timeframe of work

Monitor the project closely to ensure the contractor abides by the given timeframe. Keep in mind that If the project gets delayed due to any reason, it will result in additional labour costs, which will increase the overall cost of renovation of the project.

Also, the client should make timely payments to you as well as the contractors, as per the payment schedule, so as to ensure smooth execution of work at site.

Your Message

Click here to post a Enquiry