How much does it cost to Renovate? Ask a Building Cost Estimator

Renovation Collaborative

Do you need to know more information about the cost of house construction to help you decide whether to renovate or sell?

You might typically think of obtaining building cost advice from a builder, but did you know that’s not the only option? You can also obtain independent advice on how much it will cost to build your house plans or even your design ideas, from a Building Cost Estimator and a Quantity Surveyor.

Welcome to the Renovation Collaborative ‘On the tools’ podcast, where I interview industry experts to find out practical insider info and save you time and money. My name is Stephanie Skyring. I'm an Australian architect with 20 plus years of experience helping people create better, more environmental homes on any budget.

In the first four episodes of this Season, starting today, I focus in detail on house construction costs.

In today's ‘On the Tools’ episode, you’ll find out practical information about working with a building cost estimator; what they do, what their services cost and how they can add value to your next renovation or new build project. I talk to highly respected building cost estimator David Knight from Total Estimating Services in Brisbane.

Join me every Tuesday for Season 1. and find out whether to Renovate or Sell in Australia in 2024.

INTERVIEW QUESTIONS

00:00 Introduction

01:19 What does a building cost estimator do on a typical house project?

02:12 What is the difference between a building cost estimator and a quantity surveyor?

03:38 On what size residential projects are cost estimators most commonly used?

04:31 What is included in a building cost estimate?

05:23 Where does your material and labour price information come from?

06:06 What are the benefits of obtaining cost advice from a cost estimator over a builder?

10:15 At what stage should I get a cost estimator involved?

14:41 What do a building cost estimator’s services cost?

17:00 Can building cost estimators provide advice Australia wide?

18:35 How would I get started with a building cost estimator’s services?

19:32 Key points summary

KEY POINTS SUMMARY

We covered so much helpful information in this interview. However, there are three key points that I want you to know:

1. The benefits of obtaining independent cost advice from a cost estimator (or a Quantity Surveyor):

• It’s impartial and obligation free.
• You get a very comprehensive cost breakdown, so you can work out what to change to lower your costs (assuming you will probably want to!)

2. Obtaining cost advice early in the design phase is critical to ensuring your budget and design brief align.

Preferably at two key stages:

• Concept (Sketch Design) Stage: As soon as you have a rough floor plan to determine if your ideas are feasible. This is when you decide whether to renovate or sell.
• Developed Design (DD) Stage: When you have more developed floor plans and elevations to ensure you are still on track. This costing must happen before you seek Town Planning Approval (if required for your site) or finalise engineering.

This is such an important process to follow to avoid cost blowouts in this incredibly expensive construction market.

3. For anyone obtaining a price from only one builder: The value of obtaining a cost estimate at Tender Stage to provide an essential education about what’s included (and excluded!) from your builder’s price. This should be a very open process to be discussed with your proposed builder before he prepares his tender price to ensure the costs can be compared.

WANT TO READ MORE?

Download the written version of the entire interview as a PDF. It's edited into clear Q&A so it's easy to follow:

S1:E2 'On the Tools' with a Building Cost Estimator-Transcript

Find more information on the Renovation Collaborative website podcast page:

www.renovationcollaborative.com.au/podcast

IN THE NEXT EPISODE

In the next episode, you’ll find out what a quantity surveyor does, and get further insights into building costing that will add value to your residential project, whether you’re an owner, an architect, a building designer or a builder. I’ll talk to Flavio Costanzo, from Flavio Costanzo and Associates, Quantity Surveyors and Building Cost Consultants, in Brisbane.

RESOURCE LINKS

Total Estimating Services

www.totalestimating.com.au

Renovation Collaborative

www.renovationcollaborative.com.au

Renovation Collaborative Social Media

https://www.instagram.com/renovationcollaborative/

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https://www.linkedin.com/company/renovation-collaborative