Why should I hire a quantity surveyor?

[chris01]

I spent about 4 months to have my rental property completely renovated. I recently contacted a quantity surveyor company and was told that my hard work / labour doesn't count when estimating the total cost of the renovation. If it's true, what's the point to pay for a quantity surveyor? Can't I just go through Bunnings' receipts and calculate the cost? I'm a bit confused here.

Any thoughts or comments are appreciated.

Chris

 

[Fourex]

I need to start shopping at your Bunnings.

I will not find any hard work or labour on any of my Bunnings receipts.

Fourex.

 

[depreciator]

Yep, if it's a pre 85 property, you did a substantial reno and you've got the costs, no need to use a QS. A good accountant would know what to do and how the Low Value Pool etc work.
Scott

 

[syba]

Agree with Depreciator. If the only thing you can depreciate is related to renovations you did yourself, then you can do it yourself if you know what your doing, or give the costs to your accountant (which may end up costing as much as getting a QS to do it).

If the property was built after 1985 or has been renovated by a previous owner after then, then you'd be best getting a QS. Also if the depreciating assets (such as carpet, hot water system, blinds, kitchen appliances, etc) that you didn't replace are still in good condition and may be worth a bit, it may als be worthwhile getting a QS.

Can't really say a blanket "you don't need a QS" unless you know all that info.

Also, you can't claim the cost of your own labour - can only claim the actual cost to you.

 

[Rob G.]

told that my hard work / labour doesn't count when estimating the total cost of the renovation

Any thoughts or comments are appreciated.

Chris

You cannot include your labour.

You are not a cost to yourself. The principle of mutuality.

Just your receipts/invoices ... which may include the labour of someone else.

Cheers,

Rob

 

[RumpledElf]

If I billed myself out at the rates tradies charge around here, I'd send myself bankrupt!

But it's swings and roundabouts ... I'm doing a basic bathroom/laundry reno here. Add up tiles/taps/vanity/trough/paint and it is about $1500 of Stuff. If I paid someone else to do it it would cost at least $5000, probably more (what do tilers charge again?). Sure, its less to depreciate, but I'm saving $4000+!