Construction Cost Advice – calculating building costs
Calculating Building Costs
You’ve set an initial budget for your building project. But have you got an accurate estimate for what your plans will actually cost to build? If you think your budget may be tight, it makes sense to check your designs match the money you want to spend.
But calculating building costs purely by using the often quoted £1200-1500 per square metre is very inaccurate. Labour costs vary enormously by region across the UK. Material costs can be significantly higher for a high specification versus a more basic finish. If you want know how much it will cost to build your extension or carry out your home refurbishment, you really do need to get professional construction cost advice.
CLPM can give you the peace of mind to know that your designs are affordable. We can prevent your building project overspending right from the start.
We start with your architects plans and create a line by line estimate of how much your renovation, extension or new home will cost to build. Calculating building costs in this way means you can set appropriate budgets for large value items such as new kitchens or replacement windows. We can also advise you on the best way to cut cost out of your building budget without compromising your designs. This way you can make clear, planned decisions and be sure that you spend your money most effectively.
Save Money on your Building Project
Carrying out a professional tender process is the key to saving construction costs. The more robust the tender process, the more accurate the quotations. If every element of the build is detailed and quoted for at this stage, the tender returns will be competitive and you will get the best prices.
If you’re tempted to try and avoid fees by organising the building quotes yourself, it’s worth considering the following questions.
You may find it’s a false economy.
- Do I have the knowledge and skills to prepare detailed line by line tender documentation for every element of the building works?
- Have I got a good selection of appropriate, pre-vetted local construction companies to contact?
- Have I got the time to contact, meet with, brief and then chase the various companies to ensure I get a choice of quotations?
- Do I have the technical knowledge to answer any questions they may have and then effectively analyse the returns from the builders?
If the answer to any of these questions is “No”, then you would be wise to consider using an industry professional such as a quantity surveyor to carry out the tender on your behalf.
Once you’re ready and have the necessary planning in place, we can help you tender the works. Our quantity surveyors will select the most appropriate local builders with you to quote for the building work. We’ll take your architectural drawings and specifications and be responsible for giving the construction companies everything they need to do this. Our cost advice team will manage the whole tender process on your behalf. Providing contractors with the right information and asking them to return their information in the right way is crucial. It enables us to check the returns for you and help you decide which contractors will be the right choice to build your project.
N.B It’s also worth noting that if you want to ensure you pay the lowest building costs, you also need to make sure you get truly independent construction tender support. Unlike many other project management companies, or design companies CLPM is 100% independent. We never take commission from builders. We do not use a limited roster of construction companies, but welcome tenders from all suitable contractors. This way we retain our independence throughout the tender process and ensure you always pay the lowest prices.
BUILDING TO A BUDGET
Successful projects need skilful cost control. Have you got the time to invest in checking the work and the invoices? Do you know the what might be a fair cost for any variances? Will you have time to keep track of all the changes and a tally of the money spent?
If keeping in control of your budget is a concern CLPM can help. We can help you keep control your finances, and minimise the stress and disruption involved. Our cost advice team can let you focus on your work and family commitments.
Once you’re ready to start building, our cost advice team will use the tender documentation to set a budget for you. We’ll then prepare a formal contract to ensure that a legally binding agreement is in place to protect you financially. Once building starts onsite, one of our building project management team will then check the work is correct and completed to the right quality before recommending the invoices for your payment. We’ll check and challenge any variances, and make sure your best interests are being served. We’ll then produce regular cost reports to help you keep on track of what’s been spent and the anticipated final cost of your project.
Get in touch
At CLPM we put our clients at the centre of the process. You decide where and when you need the support – we tailor our services to you. If you’d like to keep control of your budget, we’d welcome the opportunity to talk about how we can help.