Every self-build project needs careful planning to ensure everything is covered, from the planning stage to the landscaping.

It’s easy to get distracted by the abundance of inspiring building products and green-certified heating systems. If you don’t manage your money in a consistent and even manner, you could end up with unfinished parts that ruin your dream home.

Self-build mortgage companies organize staged payments to help buyers buy their plots and complete construction.

Any self-build or renovation magazine will tell you how crucial it is to have a minimum of 8-10% contingency fund in case of an overspend in any one area that could put your entire project at risk.

It is crucial that someone takes responsibility for keeping track of all monies spent when watching your pennies. The building products purchased for self-build projects do not incur VAT. Instead, the money is recouped with a single claim from HMRC. These documents can be valuable and should be kept safe. Before you wash your work pants, make sure they are checked for any stains.

Excel excel is an excellent way to track incoming and outgoing payments. Even though you may be tired at the end, it is worth taking the time and recording these activities. You will be less likely to forget what happened last Wednesday and you can stick to your budget. This will also help you get a better result if you need to assign a contractor or supplier of building materials.

Are you aware of anyone who has unwittingly donated thousands of pounds to someone else?

One caution: Despite pre-agreed discounts with reputable builders merchants with which you have an account it is worth checking your invoices periodically to ensure that they are honoring their end of the bargain. This can happen, especially if you go to your builders merchants for last-minute building materials. The discount is not applied, even though the item is placed ‘on account’. You are allowed to ‘trade’ with salespeople if they think you don’t look. If you do not notice this discrepancy you will be charged top dollar. Overpayments can reach thousands of pounds, which is a very bitter pill to swallow when you could have spent the money to lay flat on a beach somewhere to rest your back. Warning!

There are highs and lows to any self-build project. Generally, the financial side is the worst. Keep accurate records and keep a smile on your face …. no matter what happens. Not many people make it this far in their lives, but it’s a proud moment when your dream house becomes a reality.