Setting a Realistic Budget Before You Fall in Love With a Plan

Right, let's talk about money. Not the sexiest topic, but probably the most important one before you start sketching out your dream family home. The biggest pitfall I see is people falling in love with a design before they've worked out what they can actually spend without hating life for the next ten years.

Here's the order I reckon makes sense. First, work out what you're comfortable repaying each month. Not your max, not what the bank will lend, but what you can actually live with while still going on holidays, putting kids through school, and replacing a fridge when it dies. Then back-solve from there. The bank's borrowing capacity is a ceiling, not a target.

Second, build in a real contingency. Ten percent is a sensible starting point. Sites surprise you. Council surprises you. A cousin sees the kitchen and now wants to upgrade the splashback. Stuff happens. A buffer means surprises become decisions, not crises.

Third, and this is where a lot of people get caught, separate the cost of the home from the cost of the lot. A bare block out near Young or further afield might look great on price, but earthworks, services, driveways, landscaping and fences all add up. None of that's the builder being sneaky; it's just genuinely outside the four walls of the house. Knowing this up front saves a lot of pain later.

Finally, be honest about must-haves versus nice-to-haves. Stone benchtops or a fourth bedroom? Bigger garage or higher ceilings? When you know your priorities cold, you can spend confidently in the right places and trim where it doesn't hurt.

Out here in regional NSW, you can build a brilliant family home on a sensible budget if you plan it well. The trick is to make the numbers say yes before the design does. Get those bones right and the rest of the journey is genuinely fun.

If you want a sit-down to talk numbers and what's realistic in our part of the world, head to inh.com.au/Young. We'll talk straight, no fluff.