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Agree. Chomp, post it up here if you're comfortable. I think it was a good suggestion.Don't pm too much guys This thread is really good, lots of great info, i appreciate you guys sharing
And congrats on having 6 ip's soon Chomp!
That's some of the worst advice i've heard. An architect will charge anywhere from 5-15% of the contract value for work that is often provide free of charge by a lot of builders or at a cost that is refunded if you sign a building contract with them.
If you're worried about provisional sums or prime costs in a building contract then add a 'selections allowance' of say $10,000 to the contract before you get finance. Any portion of the $10k that isn't spent will be refunded on completion of the project.
Also, saying the HIA or MBA building contracts is in favour of the builder is also a false comment. HIA contracts are actually pretty much 50/50 when it comes to fairness for either party and the MBA contracts lean more towards the consumer than the builder. The simple truth is many people don't formally challenge a builder when things go wrong or believe builders comments when they challenge the contract rather than seeking independant advice.
Ok all Im saying to Michael is for a project that size, if all the prices you get are high without a Bill of Quantities you wont be any wiser (to an extent).
If you dont have a builder you know or trust get a Bill done and then compare apples with apples. The other way to do it is go for a cost plus contract but then again if you
dont have the quantities your flying blind.
Sub contractors constantly try it on and if the builder falls for it or isnt too concerned then so do you.
Chomp
Havent got six yet Vince but plenty of time
Ryan,
Based on my experience, big differences in prices is common between trades, but I dont compare builders so for you it is more involved. I do an estimate of the trade put a price to the estimate and then I have my figure. Any one who is close to that is being realistic anyone else (unless they have made an error is trying it on). They do this with me on a regular basis, I have never fallen for it but they persist anyway, why I couldnt tell you.
If you have all the specifications and a finishing schedule for your project. And you cant do it yourself, consider going to a QS or getting a couple more prices from different builders.
Profit varies I think on a job that size they would be hoping for 20%, but it all depends on how much they want the work.
Chomp
I did the Diploma of Builders Registration and Diploma of Building in WA. There should be something similar in your state.
You should be able to do the estimating subjects without having to do anything else, but I might be wrong.
Chomp
Im not sure where you are coming from with this one, your contract will bind you to the work involved, anything outside of this is up for negotiation as to who will perform it and at what price.
If you sign a lump sum contract your builder has the obligation to build what is asked for. He wouldnt charge you any more if he made a mistake and ordered too many bricks and he wouldnt give you a discount if he managed to get trades cheaper than his original price.
Chomp
Thanks Chomp,
So if I don't understand wrongly, what you mean is to get a QS first, then I'll have all the specifications, then I ring all the trademen to get each item cost, plus some foundamental stuffs such as slab, plumbing, eletricity etc to estimate the cost of the construction .... Is it?
Cheers
Ryan