It is advisable to get multiple quotes for any significant purchase, as prices and inclusions can often vary wildly from store to store or company to company. It’s the same when it comes to building or renovating, particularly at the moment with many builders chasing hard to get new work through the door.
And yet many people don’t get competitive quotes from builders for their new home or renovation projects. Instead, they either choose a single builder or building company, or they go for a Design & Construction package deal.
Downsides of Design & Construction Deals
In case you’re not familiar with the term, a Design & Construction deal is one where you pay an agreed all-up price for your project that includes both the design of your new home or renovation as well as the construction and material cost.
These agreements became popular a few years ago now back when there was plenty of construction work going on and builders could charge whatever they wanted, knowing that they could get more work than they could ever handle. As builders put their prices up higher and higher, consumers looked for ways to get a better deal and Design & Construct arrangements began to look appealing.
But are they as good as they seem?
Well, they do offer the benefit of letting you know your costs up front – variations aside. But you need to keep in mind that the price was set allowing for a healthy level of profit for both the person designing the home and the builder constructing it. It wasn’t put together to give you the best possible price.
In today’s market builders are quoting very competitively. You would be crazy to sign up for a Design & Construct package when you could instead have your project professionally designed and then get any number of highly qualified and reputable builders quoting on your job. Given the current building market, you could potentially save tens of thousands of dollars simply by getting competitive quotes.
But there are a few things to keep in mind …
- Get your design done first – this way each builder will know exactly what they a quoting on.
- Ensure your designs are detailed – I have seen plenty of designs, even by qualified architects, that are sadly lacking in specific detail resulting in confusion and arguments over material standards and even the basics of what the project entails. The more detailed the design documents, the more accurate the quote.
- Get quotes from quality builders – don’t just get quotes from every builder out there, look for the ones that are experienced in your type of project with a track record of good results.
- If unsure get someone to organise quotes for you – We offer a service whereby we source the most qualified builders and handle the entire quote/tender/negotiation service for our clients to ensure they are getting the best possible deals. If in doubt get someone who knows what they are doing to get the quotes for you.
This is the perfect market to be building or renovating with competitive quotes ensuring sensational prices and great savings for consumers. This is not the time to look for all-in-one type deals where architects/drafts people are teaming up with builders to offer packages that are designed to maximise their profits.
For more advice contact Brisbane architects, dion seminara architecture.