MyWeku Restaurant: The importance of creating the build budget
I had been in Accra for a few days and met pretty much everyone who would have something to do with this project. The conversations I had with each often ended with the question “how much?” I’m not the biggest fan of documenting costs in too much detail but my Dad is and since he is managing the day to day operations of the build he holds some sway. I suppose his biggest reason for documenting every single cost was so he could give me an idea of overall costs as I held the purse strings. The costs below are in GH Cedis. 4 GH Cedis is about $1.00 as at July 2017.
A typical building project would certainly have a budget of sorts to get a sense of projected costs. That budget could be broken down by square metre or in our case mainly based on material and labour costs for each bit of the project. The budget above was the outcome of all those conversations for the initial phase of the build which mainly revolves around structural work. It is not exhaustive as it excludes design fees (we went the D.I.Y route on that one). It also excluded landscaping costs some of which can be gleaned from this post – Lanscaping. As this was a “self-build” of sorts we did not have to grapple with the fees of a project manager, which could possibly come in at 10 percent of the overall build costs. I would recommend you get a quantity surveyor to provide you with accurate figures. We didn’t. The project is small and manageable enough to estimate the costs ourselves working in tandem with the builders. We saved on cost here but three weeks in and we realise we have missed out some costs, notably labour costs for concreting the seating area. It also worth noting that in a country where inflation is at double digits, budgets remain accurate for very little time. I suppose a good trick is to buy as much of the materials if you can store them safely then take your chances on labour costs which tend to be less unstable.