When planning your wedding, it is very easy to spend a lot of money because the costs can get away from you. This is why you need to set a budget for the entire wedding and break this down into the different parts of the wedding. Your wedding venue budget is particularly important because it is one of the largest expenses and easy to go over. To determine your wedding venue budget, you need to consider certain factors.
Know When Peak Season Is
When creating your venue budget, you need to know when peak wedding season is. This will vary depending on the venue you are looking at. However, the peak season is usually April to late September. You need to know the peak season because competition for venues will be fierce at this time.
The costs will also increase because of the demand. If you know that your budget cannot go very high for the venue, you should consider a wedding date that is outside of this season. If you have your heart set on a summer wedding, you should consider a weekday wedding as this will usually be cheaper.
Tax and weddings are two things that most people do not combine, but you need to when it comes to your wedding venue budget. The tax that you need to account for is VAT. If you are getting estimates from venues to get a ballpark figure for your budget, you need to ensure that VAT is included.
If you budget on figures without VAT, you are going to go over budget on the day. Before you set your heart on any venue, you need to know what the real costs are. Many venues will provide costs without VAT which will increase the costs by 20%.
Most people will have a separate part of their budget for catering, but you can combine this with the venue budget. There are many venues that have inhouse catering and more that have preferred caterers. If you choose a venue with in-house catering, you need to add that amount to the budge for the venue because it will be a combined bill.
If you already have some idea on the caterer that you want, you need to look for a venue that allows outside vendors. A lot of the top venues will have a list of approved vendors that you choose from and you will need to work their estimates into your budget.
Fortunately, the wedding venue will generally have an estimated cost for the different catering options. This will make it easier to set your budget for both aspects of your wedding.
Most couples do not want to think too much on the budget they have for their wedding and want to get into planning it instead. However, having a budget is vital and you need to carefully consider your venue budget. This is a major expense and could be more than you imagine based on the time of year, the inclusion of VAT and catering options.