If your family is growing you may feel that your home is starting to burst at the seams. Perhaps time has come to find some extra space. If you don’t want to move house, you could extend or reconfigure your home. But with lots of horror stories about building works running over budget or taking too long, it is important to follow some basic advice.
To reduce the risk of extra costs and delays we recommend that you have clear plans, an agreed budget, and a written agreement for the works.
Good Plans / Drawings
A good set of plans could be drawn up by your builder or an architect. Using an architect or other design company to consider your needs and the current layout of your home may be more appropriate if your home has an unusual layout or if you don’t have a clear idea of what you want.
Clear Budget
Having a clear budget is essential. A quantity surveyor working in partnership from the design process stage onwards is the ideal way to help provide you with the cost certainty you need.
Your quantity surveyor will work to your architect’s plans, scope and site specifics and use our industry knowledge and expertise to produce an early budget cost known as an Order of Cost Estimate (“OCE”). Once signed off, the OCE becomes your starting budget and reference point for comparison as the project and costs develop.
A Written Contract
A written contract will set out each parties rights and responsibilities. There are various versions of building contracts available, It is important to read it and particularly focus on sections that deal with timescales, costs, variations and penalty payments.
Stage Payments
We would recommend that you include provision for stage payments. Make sure the contract is signed by both parties before the works begin. Finally, carefully monitor the build. If stage payments are included in the contract you must make sure that the stage has been completed before releasing each interim payment.
TIMMS EIDA’s top tips
A good set of plans
Make sure you have a set of professionally drawn up plans that include all the works.
An agreed budget
Have a clear budget that includes all the works.
Written agreement
A written agreement, signed by both parties before the works start. This will record each parties rights and responsibilities and help avoid disputes.
Interim payments
Include provision in the agreement for the costs to be paid in stages on completion of different milestones.
Careful monitoring
When the building works are underway it is important to monitor progress and only release a stage payment once the work agreed for that stage has been completed.
Expert advice
If in doubt, ask an expert. Timms Eida Associates are construction professionals with almost 50 years expertise!
Who are Timms Eida and Associates?
Timms Eida & Associates can help to set a reliable and adequate budget, put appropriate contract in place & monitor the construction will allow your funds to be allocated effectively leading to successful completion of the project and providing value for money for the build.
