Budgeting for fund flow - The very first step in planning the construction of a new home is the construction budget. Developing a preliminary budget spells out the allocation of funds for your project in broad terms. Knowing your spending limits and developing a home building budget will go a long way towards keeping you out of financial trouble on your project, especially during the preparation of your plans and specifications. Your final "working" budget will be developed when you complete the cost estimating process.