In 1662, Budby was part of Sherwood Forest though most of the forest has since been cleared for agriculture. It consists of two farms and 23 cottages built for estate workers many of which are still used by employees or tenants of the Estate.
Budby was formerly a township in the parish of Edwinstowe,[3] from 1866 Budby was a civil parish in its own right, on 1 October 1899 the parish was abolished to form Perlethorpe cum Budby.[4]