Planning a domestic construction project is no easy task.
Whether you’re preparing to invest in a new-build or extending your home to fit
a new office, you will need to liaise with multiple contractors, educate
yourself on legal terms such as ‘party wall disputes’ and crucially, set a
budget.
Setting a budget for your construction project can be a
daunting task, as there is a long list of factors to consider to make sure you
can afford the work you are planning. Nevertheless, it’s one of the most
important stages of any construction project.
To make sure you stick to your budget and avoid additional
fees and charges, we always recommend hiring experienced contractors. From
chartered building surveyors to accredited scaffolders, a dedicated team of
professional contractors will make sure your budgetary requirements are
considered every step of the way.
It also pays to have an understanding of some of the most
common reasons why domestic building projects go over budget. By learning from
other peoples’ mistakes, you can maximise your chances of running a successful,
efficient and budget-friendly project.
Seven reasons why domestic projects exceed
their budget
Clients are
significantly under-quoted
Sometimes, there’s a very simple reason for why domestic
projects go over budget: the budget wasn’t realistic in the first place.
Finding out halfway through a building project that you will need to fork out
significantly more money than you initially thought can be hugely frustrating.
Inevitably, the trust between you and your contractors will also crumble as a
result.
If you are quoted a price that seems far too low to be
accurate, then it is always worth doing your own research before entering an
agreement with the company who quoted you. Take your search online, check with
friends and family and get quotes from other companies in the local area to
make sure you have been given an accurate estimation.
Human errors cause
miscalculations and costly mistakes
Human error can have serious consequences in every field, but
when it comes to construction, accidents aren’t always easy to rectify. Even
simple administrative errors can have significant repercussions, with
everything from tax miscalculations to incorrectly written contact information
responsible for wasting time and money.
The most effective way to prevent errors and mistakes from
affecting your building project and its budget is to make sure you employ a
team of professionals to oversee the work to completion. After all, highly
qualified building surveyors, architects, building contractors and project
managers will have first-hand experience in processing the documentation needed
for your project to go ahead smoothly.
The contractors
hired for the job aren’t well-equipped
Unfortunately, a common reason for overstretched project
budgets is that the contractors in charge don’t have the skills or expertise
needed to meet the demands of the job. This may lead them to quote you too much
or too little, underestimate the length of time needed to complete the project
or even cause damage to your property.
To avoid contractor-related issues, it’s extremely important
to spend lots of time researching the best contractors in your local area
before starting a domestic building project. This is true no matter what the
project entails; whether you’re planning a loft conversion or full house
extension, hiring the most qualified and experienced contractors for the job is
key to project success.
If your project overruns or exceeds your agreed budget,
contact our team of construction dispute
consultants
for
expert advice. We specialise in resolving disputes between clients and
contractors when their relationship breaks down and are on hand to help with
mediation, arbitration, adjudication and early neutral evaluation.
The client changes
his or her mind mid-project
Planning a domestic building project can be challenging, as
there are lots of factors to consider before contractors can start working. One
of the most important parts of a construction project is the planning stage, as
this is your opportunity to discuss your ideas with your architect or project
manager and make sure the builders know exactly what you expect. However, if
you tweak the plans mid-project, you can expect to pay more than initially
agreed.
Even minor changes can lead to overstretched budgets. Your
contractors will need to draw up new plans, double-check that the work adheres
to planning permission regulations, purchase new materials and even push back
their next job, so the financial repercussions of changing the building plans
mid-project could be substantial.
The construction
project is poorly managed
Construction projects can be complex operations that require
extensive planning and expertise from multiple contractors. This can be
difficult for any client to deal with, which is why problems often arise
without the help of a dedicated project manager. A lack of communication, poor
direction and administrative errors could all contribute to a project
breakdown, which could cost thousands to resolve.
To avoid this, we always recommend hiring an experienced
project manager. A project manager will oversee the entire building project,
help to maintain positive working relationships between the client and the
contractors and undertake strict quality control procedures. They will also
identify when a project is due to go over budget or deadline and help to
mitigate how much this affects the client.
If you require expert project management services for domestic building work
, you needn’t look further than our
team. We’re proud to work with both clients and contractors to ensure a
successful outcome for both parties.
There is a lack of
communication between the parties involved
We cannot underestimate the importance of clear and frequent
communication during a domestic project. From start to finish, it is vital to
stay in touch with your contractors to make sure every detail of your project
is understood and executed properly. Poor communication can lead to distrust
and frustration and is one of the most common causes of construction-related
disputes.
To prevent a communication breakdown, we recommend discussing
how often you would like to check in with your contractors before agreeing to
the terms of the project. This way, each of the parties involved knows what is
expected of them with regards to checking in.
Remember - when you hire a project manager to oversee your
building works, they will make sure there is a cohesive stream of communication
between every party involved.
Unforeseen
circumstances prevent projects from progressing
No one can predict the future, and as we’ve seen throughout
the Covid-19 pandemic, sometimes unforeseen circumstances make it impossible to
progress with building projects as planned. If your building project needs to
be put on hold, even if just for a few days, you may still face financial
repercussions that can be difficult to predict or resolve.
Of course, some circumstances just can’t be prevented. For
instance, if your contractors fall ill or weather conditions threaten their
safety on-site, the work will need to pause. Nevertheless, you can mitigate the
extent to which unforeseen circumstances like these affect your project budget
by agreeing on terms and conditions in advance.
Simon Levy
Associates: Chartered building surveyors in Borehamwood, Watford and Greater
London
For expert advice regarding your upcoming domestic
construction project, you needn’t look further than Simon Levy Associates. We
are proud to be the leading building surveyors in Hertfordshire and the
surrounding areas and to specialise in a comprehensive range of building
services, including project management, construction dispute resolution, party
wall matters, dilapidation surveying and much more.
Whether you require a building defect diagnosis or you need
advice regarding a building insurance claim, the highly-skilled team at Simon
Levy Associates is just a phone call away. Our mission is to take the weight of
managing building-related issues off your shoulders to resolve them quickly,
efficiently and professionally.
To learn more about the many services we offer,
or to speak to a friendly member of our team, please don’t hesitate to contact
us today. We look forward to working with you.
