When deciding to build a new home understanding your budget is crucial but more difficult than most people think, writes Adelaide Build Assist’s Anthony Buckingham.
Getting a detailed quote is vital to save you from a huge cost blowout and what can turn your project into a disaster.
But the problem lies with getting an accurate cost, how do you know what you need?
Unfortunately it is not as simple as just providing your builder with your house plans and expecting your quote to be accurate.
These quotes are often way off the mark because they are based on the “square metre rate” of plan drawings. This method only takes into consideration the size of your project, but not necessarily all the additional costs and minor details that come with building a new home. If a builder provides a quote simply based on planning drawings, your budget is seriously at risk. Even if that builder prices the home based on your exact plans, if they don’t have the final engineering or other documents, they can’t price the exact needs of your project, leaving grey areas and potential for costly variations.
In reality, producing an accurate quote is a technical and time consuming process that needs to be driven by someone other than the builder, an expert advisor.
How to get a residential building quote, the right way
The best way to get the most precise cost estimate from your builder is to provide all of the key details. These include a complete set of work (or construction) drawings, full detailed engineering, specific council requirements as well as house specification and fit out and any other specifics of your project such as unique design requests.
The more details you provide, the more the builder can consider. If you’re unprepared, the estimates will be based on assumptions which then will lead to variations once the documentation and selections are completed.
If you’re going through this process yourself you will likely find it complex, time consuming and stressful. Missing one minor detail could have a significant on your budget or build timeline. Most people don’t have extensive building experience and will therefore be overwhelmed by what’s before them. How are you supposed to know what is missing and what is needed?
There is another way
An increasing amount of people are turning to experienced and reputable building advisors to help them through this process.
A good building advisor will be able to guide you through every step, helping you gather every detail, before gaining accurate quotes from credible builders that fit your construction project brief.
Adelaide Build Assist
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