Always check your construction costs before you go too far!

 

Too many people jump into renovations without properly checking costs as they go along, only to get a nasty surprise after they have spent thousands of dollars on design. This month in the 101.5FM radio Morning Magazine show I tell you how and when to check design costs to avoid cost blowouts.

When it comes to building and renovation, all decisions come down to cost at the end of the day.

Knowing the right amount to spend on your renovation or new home, and keeping a close eye on costs as you progress through the design stages is essential for all projects to keep costs under control.

It’s all too easy to get carried away when you are designing and selecting tiles and taps and all those beautiful finishes. That’s where so many people come unstuck. They spend thousands of dollars with design professionals, not to mention investing an enormous amount of time and emotion, without having any real idea of what their project will cost. They only discover the actual cost when they are on site and have multiple price ‘blowouts’.

Can you tell us how to avoid falling into this trap?

Absolutely. The first step is to be clear about how much you have to spend on your project before you start. And if you can divide up your budget into all the separate parts of the project – including the work on the house, the consultant costs, and any landscape work or pool. This will help you brief your designer team and builder.

As you proceed with your design, you may be given some rough cost estimates by your builder or design consultants you are working with. If you have a large project and you want to be more certain about costs, it’s a great idea to validate the advice you are given and get your project costs estimated by a building cost estimator. You will need to pay for a building cost estimators services – but if you have a project over about $500,000 its money well spent. You will get a comprehensive breakdown and a very clear picture of where the costs are. This is really helpful if you are tossing up ideas and need to decide based on costs. You can get the cost estimator to put a price against your different options. 

What can building cost estimators provide price advice on?

You can get the cost estimator to include whatever you need in the estimate. For example, landscaping or pool whatever is included in the design. It’s essential to be clear on what you want to include and exclude from the pricing to obtain an accurate cost.

When is the best time to get the building cost estimator involved?

There are 2 key stages where its very helpful to have accurate cost information:

Concept Design Stage (using rough floor plans): To determine if the project is feasible This is the renovate or sell stage – if its too expensive at this stage you might be better to sell.

Developed Design Stage (using floor plans, elevations, site information, indicative schedules): To validate that your project is still on track. This must occur before Town Planning Approval or detailed engineering is done. If changes are required to reduce cost, it is too expensive to go back and redesign after Town Planning approval and engineering are complete.

And its important to note, if you are looking for a building cost estimator make sure you use someone local, because it’s all local knowledge. Costs vary all around the country.

 

NEED MORE INFORMATION?

 

Listen to the 101.5FM radio show episode HERE

In Podcast Season 1. Renovate or Sell I guide you through the process and tell you the processionals who can provide you with the information you need to help you make decisions.