McDermott, who takes charge of his fourth game against Brighton at Elland Road on Saturday, has completed his first task of steering the club clear of relegation trouble and is now laying the foundations for player recruitment during the summer.
"We're looking at it now," the former Reading manager said. "We've got the points we need so obviously we're looking at it now.
"I spoke to (technical director) Gwyn Williams, I've spoken to the club, the staff and I used to do this for a living.
"I used to be a head scout so I know how it works.
"But we haven't spoken about budgets. What I'll do when the time comes is talk about players - this is the player, this is the situation, this is what we need. Then we need to try and do a deal."
Leeds take on former assistant manager Gus Poyet's Brighton in their final home game.
McDermott added: "We want to finish on a high. We want to make sure that we play some good football and we get the right results and then we can move on.
"Having said that, there was a job to do, a very specific job and that job has been done.
"Now we play a game of football in front of a big crowd. Brighton are trying to cement their place in the play-offs and we want to make sure we get the right result. Very simple."