A construction budget includes more than materials and labour. Site preparation, professional fees, services and permissions can all contribute to the total.

Connect costs to the programme of work so that deposits and contractor payments are visible in advance. Include a considered contingency for uncertainties.

Update the budget when scope or timing changes. Financing should follow a credible delivery plan rather than conceal a widening gap between estimates and actual cost.

Key takeaways

  • A construction budget includes more than materials and labour.
  • Connect costs to the programme of work so that deposits and contractor payments are visible in advance.
  • Update the budget when scope or timing changes.