Managing your build finances

Kalka home front facade
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At Kalka we’re passionate about building homes that people love. There are a lot of aspects that go into building a new home, but understanding the process and setting realistic expectations can definitely help make that process easier.

Managing your finances is paramount, so from the start of the journey, it’s important to establish exactly what you want and what you can afford to spend. This helps to ensure that you’re happy with the final product but also that you can meet your mortgage repayments when they kick in.

When budgeting, it’s also important to factor in contingency funds for additional expenses as well, such as council rates, insurances, taxes and landscaping.

To keep everything manageable and achievable, costs need to be kept within the loan amount that you have pre-approved and on top of that, you might also want to set aside a little more for things like furnishings once it’s completed.

We encourage our clients to write a checklist. Thinking about the rooms, finishes, features and fixtures that fall in the ‘must have’ list is important. When that’s noted, we encourage them to start a new list detailing the ‘nice to haves’. That way clients can clearly identify what is essential and what are the luxuries.

At Kalka, our new home consultants guide our clients through the decision-making steps involved well before the actual build begins. These considerations help to clarify the process and set realistic expectations.