Lizzie and Joe’s Design and Build Therapy - Episode 7:
“Help! How to consider my budget for a building project and how to plan my cashflow?”

Who - Lizzie Fraher & Joe Fraher

Description - Lizzie and Joe are a husband and wife pair of Architects who run Fraher & Findlay - an architecture, build and joinery company in South London, and have been designing and building projects together for the past 15 years. Lizzie is a featured Architect on BBC2’s building show - “Your Home Made Perfect”.

In the design and build industry, one of the biggest challenges is budgeting. Many people struggle to understand and manage their building costs due to the significant variability in what professionals charge. This variation often stems from differences in service levels and is a crucial aspect that is frequently overlooked.

Understanding Skilled Labour:
What exactly is skilled labour, and why does it represent a hidden cost in construction? Can you identify the two main categories of labour that impact your budget?
What is OPA?
What does OPA (Overhead, Profit, and Administration) mean, and how can it affect your building project costs?

Budgeting for a Building Project:
Initial Steps:
How can you effectively start budgeting for your project? Are there guidelines or templates that can help you structure your costs?

Variables in Small-Scale Projects:
What key factors should you focus on for smaller projects? How can you use detailed estimates to adjust for unforeseen variables?
Why the Lack of Transparency?
Why is there often a lack of transparency about building costs in the UK? How does cultural reluctance to discuss money affect your understanding of project costs?

Managing Your Budget and Cashflow:
Preparing Your Budget
How can you create a comprehensive budget that covers all anticipated costs? What should you include to get a realistic view of your total expenditure?

Contractor Cashflow:
Why do so few contractors provide a detailed cashflow for projects? Should you insist on this information to better manage your finances and ensure smooth project execution?



Summary:
How can you develop a long-term financial plan for your project?
Who should you consult to get accurate build estimates?
What approach should you take to budget effectively, and what key questions should you ask?
How can you stay on top of essential project elements?

Q&A:

How to Avoid a Highly Glazed Room Overheating?

To prevent overheating in a highly glazed room:

Avoid south-facing glass installations that receive intense sunlight.

Consider solar shading solutions, such as overhanging roofs (minimum 300mm projection) or pergolas with vines for natural shading.

Use brise soleil (fixed shading devices) to manage heat on windows.

For existing spaces, enhance ventilation or use air conditioning to maintain a comfortable temperature.aptivating, grounded and concise.

Links:

Video consultations with Lizzie - ffconsultations.myshopify.com/
Fraher & Findlay instagram - www.instagram.com/fraherandfindlay
Lizzie Fraher instagram - www.instagram.com/lizziefraherarchitect

Upcoming in next podcast - Help! What are the basic stages of a building project? How do I make sure I’m following the right steps?

Ver todos los episodios