There are two ways homeowners typically figure out their budgets. Some already have and idea of what they are going to spend and can design their projects with that budget in mind. Others know what they want but don’t know what it costs to build.
Figuring out your budget takes time and research. A good design/build firm should be able to meet with you and give you guidance on what certain phases of your potential project should cost. Before moving forward with a design agreement you must figure out your budget and make sure that your landscape architect and/or design/build firm respects that budget as they move forward into the conceptual design phase.
You must be realistic about what it takes financially to successfully complete your project. If you have $50,000 and your proposed project is going to cost $150,000 you either have to reduce your scope of work or increase your budget. Dissect each phase of your project. If you’re building a pool don’t rule out the fact that beyond the pool there is pool decking, landscaping, fencing and many other considerations. Many people make the mistake of estimating the cost of their pool without estimating the cost of the finishes around the pool which will in most cases far exceed the cost of the pool itself.
The key is to be honest with yourself and your contractor about what you can spend. If your budget won’t allow you to do the project right the first time the best thing to do is to wait. Having a clear picture of all costs involved will allow you to move forward with confidence and peace of mind.