5 Tips for Completing a Renovation/Building Project
13 / 03 / 2019
Isn’t it great when a project runs smoothly from inception through to completion? Finishing on time and on budget is the ultimate goal of any builder, but achieving this goal is not always straightforward. All too often we hear about failed builds, and the cause can often be attributed to poor management of cashflow or communication barriers and petty disputes which eventually come to a head.
At Section 94, we want to see your project succeed. By following our 5 tips for building and renovation projects you will be well on your way to success.
- Don’t Rush When Assembling Your Team
Whether a commercial or residential build, there’s a lot of planning and thought involved. Sometimes your thoughts may overwhelm you, but you should always resist the temptation to dive in.
Take your time to research local builders and design professionals. Go through their portfolio of completed works, and it is also a good idea to schedule a face to face meeting with companies you are interested in working with. This will enable you to gain a better understanding of how they work and whether your personalities and ideas align.
Make sure to check the following before choosing a firm:
- References – look up reviews from previous customers. Were they happy with the end result?
- Price – Be clear and upfront about your budget
- Style – does the builder/architect style align with your ideas?
- Acquire Permits and Check Licences
Council regulations vary widely throughout Australia, and development applications can take anywhere from a few weeks to a few months to be approved. Start this process as early as possible, and make sure you have a clear understanding of the costs.
You should also check to make sure that your chosen contractors hold the appropriate licence for the jobs they have been tasked with. The last thing you want is to have unlicensed tradespeople working on your site, as this could result in disaster. At a bare minimum, your builder needs to be a member of the Master Builders association.
- Budget and Finance Arrangements
You’ll need to have a finance arrangement in place prior to commencing the build. Section 94 can help you in this regard by completing a bank prefunding report, which will assure the bank of your projects viability and estimated costs. Once you have this report, you will be able to apply for finance approval and get the ball rolling.
Your bank may also request updates throughout the build, such as progress draw down reports, revised financial projections and cash flow statements. Having a clear understanding of where your money is being spent is key to a successful project, so make sure you set a clear budget and engage a registered quantity surveyor to help you stay on track.
- Communication is Key
With any development there is always a large number of stakeholders involved. Everyone needs to be kept in the loop, and you should communicate with your builder and tradespeople on a regular basis to see how construction is progressing.
If you notice any issues, make sure that you raise them immediately so that they can be rectified. Creating a positive vibe on site and operating with honesty and integrity at all times will go a long way in ensuring a smooth build.
- Stick to the Scope
Sometimes as a build nears completion it can be tempting to carry on building more and more. Perhaps you envision a large gym, jacuzzi or home theatre room. The question you really need to ask is: will you use it, and will it add value to your development?
Often it is better to stick to the original plans, as a space which is under utilized and difficult to repurpose will only be a hinderance, not to mention a financial drain.
Section 94 Can Help – Contact Us Today
If you’re about to embark on a construction project, it’s a good idea to engage the services of a registered quantity surveyor. We can keep tabs on your finances and provide detailed construction cost reports, giving you a clearer picture of where your money is being spent and conserving funds where possible.
Please get in touch today to discuss your project needs. We wish you all the best with your build!