Building With BuildHer

It's easy to design whatever you want - as long as you’ve got no budget! While some homeowners have the luxury of seeing every detail of their vision come to life, most of us will need to make compromises to align with our financial parameters.

Today, I’m joined by Shah de Saxe, an incredible interior designer who has extensive experience in residential design. She’s currently halfway through her own renovation project in Peregian Beach in Queensland, and we’re lucky to have her join us to share her insights on designing a beautiful home on a budget.

Balancing Quality and Cost

Designing to a client’s budget is always a challenge, but you’re never as intensely aware of the constraints as when you’re designing your own project. Shah shares her own process for managing the budgeting side of things while not compromising on quality. Confident in her ability to design in a way that connects with people, she also keeps the bottom line of the sales price front of mind, knowing she’ll eventually get the price she’s looking for. This helps her to make decisions that keep costs in mind, while still prioritising the look and feel of her designs.

The Value of a Good Layout

Designers often face the challenge of working with existing floor plans and finding ways to optimise the use of space. Shah is an expert in reworking floor plans to maximise the value of a home, and she shares an example of how a poorly designed layout can affect a sale if it doesn’t meet the needs of potential buyers. So, it might be time to ditch the idea of a double shower or oversized ensuite and opt for something with a little more livability!

Combining Beauty and Functionality 

Making a couple of significant moves and investing in them can be the difference between a house that looks pretty, but really doesn't function well, and one that functions amazingly and has that feeling of a beautiful home. Shah talks about creating a flow throughout a home with both beauty and functionality, and shares her background that inspired her design style.

This conversation with Shah is a helpful guide for anyone looking to design a beautiful - and cost effective - home renovation. So, tune in and enjoy!

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I’m super excited to get into today's topic, because it's one that I've been talking about a lot with our community. It also seems to be something that we as whole are struggling with.

In this episode, I’m giving you an overview of feasibilities and the best method to accurately assess your building costs and profitability.

Why Feasibility Studies Matter

So, why do we need a feasibility study? Whether it's your own home or you’re working on a for-profit project, you need to understand the numbers. This means knowing what your build will actually cost, what you can afford and then whether it's actually a good investment or not.

I take you through the fundamentals of feasibilities: understanding what the numbers are telling us, working out how the scope of work will come together, comparing sales and checking it all against our vision and value proposition.

Determining the Final Cost of the Build

Feasibility studies are more than just plugging numbers into a spreadsheet - they require a meticulous breakdown of the project scope so that every detail, from the materials used to the construction methods employed, is factored in.

It might mean you have to make adjustments to your initial vision or design, but trust me - running your numbers upfront can seriously help mitigate the risk of any unwanted surprises!

Financing Your Project

There are a lot of financing options available out there, and they all depend on the nature of your project. Home builds or renovations might leverage traditional construction loans, while a commercial build may explore options like joint ventures or private investments. A feasibility study can play a crucial role in securing financing, where you’re able to provide lenders with a clear picture of the project's projected costs and potential returns.

If you’re like me, it’s possible you’ve made mistakes before when running numbers or working out the scope of your project. But in the end, it doesn't really matter - it’s all about getting back on your horse and becoming better each time.

So, join me today and get the rundown on how to assess the financial viability of your project, which will help turn your building process into a well-oiled machine!

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As women, we often won’t talk about finance or loans and how to navigate them when looking to start a build - it even seems a little taboo!

However, understanding how it all works is crucial in completing a successful renovation or home build. Today, Leah Ziskos from Entourage Finance is back to chat all about understanding construction finance and where to begin when looking at the different options available.

Seeking Advice Early On

From equity withdrawals to construction loans, it’s important to be armed with the knowledge on how you can best finance your project. Not only will you be able to understand how much you can actually spend, it will give you the confidence for things like sourcing builders and engaging architects. We talk about the importance of seeking advice early on so you can make an action plan to tackle the many different aspects of your build.

While speaking to a broker might be the obvious first step, we discuss the value of involving your accountant and real estate agent to help you understand the whole picture. Ensuring there’s a good relationship and transfer of information between all parties will help you get properly set up from the get go.

Fundamentals of Construction Finance

To give us an idea of what to consider when securing funding, Leah takes us through some scenarios Entourage Finance’s clients face and the process of assessing the build contracts. She runs us through structural changes vs non-structural improvements, and what it means to utilise the equity in your property to access the cash you need.

We discuss borrowing capacity and break down the numbers in detail, so you have an idea of how much a bank may be willing to lend - as well as the money you may need to contribute!

Preparing for Additional Costs

While a build contract may include significant costs, it’s crucial to have an idea of the total cost of what isn’t included. How much cash do you have aside for the pool, the landscaping or even your tapware? If you’re going to be doing anything in addition to what’s inside the contract, figure out how much you need to borrow, as well as what your savings position is. This will help you greatly in structuring and utilising your funds in the best way. 

While financing your project might seem like an overwhelming process, there are practical steps you can take to reduce the stress. Reaching out to the experts is your best bet to kick start your project with confidence, knowing that you’re equipped with the information you need for a successful build.

So, join us as we dispel the confusion and get you up to speed on how to best finance the home build of your dreams!

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In this episode, I’m joined by Matthew from Elevate Building Group to talk about value management in building projects. His top tip? To engage with a builder early on in your project. Through the conversation, we discuss how a builder can save you time and money while ensuring the end result aligns with your vision.

Engaging a Builder Early:
First things first: why should you bring a builder on board early in the game? Having a builder involved from the start means you've got someone who knows the ropes, can spot potential issues before they become expensive headaches, and help you stay on budget. Matthew highlights the builder's unique perspective, as they are intimately familiar with the practical aspects of construction and can provide valuable insights into cost-effective solutions

Cost Engineering and Material Selection:
One key aspect of value management is cost engineering, which involves analysing the project's requirements, existing parameters, and budget to find the most efficient way forward. With things in the industry changing so rapidly, it’s hard for designers to keep up with it. Builders, who are directly involved with the work as things change, are much more familiar with the actual costs.

If you’ve got a builder on board from the beginning they’ll be able to help by weighing design options, structural considerations, and material choices against each other to optimise cost without compromising quality. Rebeka shares examples of how seemingly minor decisions, such as roofing systems or gutter designs, can have significant cost implications, underscoring the importance of careful planning and consideration at every stage of a project.

Collaboration and Communication:
One of the keys to success in any building project? Communication, communication, communication. Rebeka and Matthew emphasise the importance of everyone working together as a team. By keeping those lines of communication open and listening to each other's expertise, you can avoid costly mistakes and ensure the project stays on track.

And there you have it, folks! Value management might sound like a fancy term, but at its core, it's all about making smart decisions to get the most out of your building project. By bringing your builder into the fold early, thinking carefully about costs and materials, and fostering a spirit of collaboration, you'll be well on your way to a successful—and budget-friendly—build. Thanks for tuning in, and happy building!

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Connect with Matt

Communication is so important in construction.

I know we’ve said it before, but it can’t be overstated.

Communication is absolutely vital.

Today I’m joined by Bek Bishop, a construction powerhouse, to discuss our experiences navigating relationships in the building process. We talk about the ways your relationship with a client will affect the project at every step from start to finish. Most importantly we want to emphasise the importance of communication, trust, and understanding between a homeowner and a builder.

The Role of Communication:
Nothing is more important in building strong relationships than communication. If we can talk openly and honestly, we can foster mutual understanding between homeowners and builders. Bek shares her tips for maintaining open dialogue so you can prevent issues from escalating or even stop them from occurring in the first place.

Building Trust:
Construction is a challenging task. There are so many things that can go wrong, and so many factors to consider. It’s crucial you can build trust with your client from the outset of the project, otherwise, you’re setting yourself up for trouble. Remember that it’s a collaborative process, and even if you are a professional you need to maintain an openness to all ideas.  

Finding Understanding
Proactively building your relationship is important, but it can’t fix a situation where everyone’s expectations are in conflict. Homeowners should work with builders whose approach aligns with their preferences and communication style. By making sure you’re a good fit from the start, you can ensure a smoother and more enjoyable experience for all parties. Despite the work it takes, building strong relationships with homeowners is incredibly rewarding. Putting in the effort to form a connection doesn’t just improve the building experience. It also fosters strong relationships that can last for years.

Navigating Challenges in Building Works:
We also talk about the unique challenges that can arise when you take over a building project already in process. We’ve both experienced this and know how important it is to set clear boundaries and document expectations. It can be a stressful job to take over from another builder but with proper communication, you can ensure a successful outcome.

We hope this episode will leave you more confident in navigating relationships in the construction industry. Enjoy!

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