Building a New Home – Budget Tips

Budget is a word I really love to hate!! How about you?

The one thing I know for certain when building a new home is you can budget all you like but my number one tip for all new home builders is to have a Slush Fund.

Why a SLUSH FUND?

Building a New Home - Budget TipsS – Shiny Objects – they are there to tempt you along the way!
L – Love Factor – The item is more than the budget BUT you LOVE it!!
U – Unexpected Costs can occur – Be Ready for them!!
S – Save your Sanity ensure all costs are covered!
H – Hiccups do Occur – Slush fund helps to alleviate some of the stress!

F – Fun Factor – House shopping is fun and you can get carried away!
U – Unknown – what you don’t know now could cost you later!
N – Never say Never – Life happens especially when building!
D – Don’t be a fool, Ensure you have a Slush Fund – You will need it!!

A very dear friend and I were talking about this and she was sharing with me how when they built their first home they had a slush fund of $20k and it really saved their hide. So when they built their second home they made sure they had an even larger slush fund and she is extremely grateful she did as things didn’t quite go to plan.

The thing is life happens and if you have all your cash tied up in your brand new home or if you are maxed to your borrowing capacity what will you do when the unexpected happens?

We would love to hear from you – How did you go with your budget when building? Did you “Nail” it? or did it “screw” you over?
Join our facebook group and share with us your stories and you may even find yourself featured next month https://www.facebook.com/groups/IdealHomeLiving/.

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