Hard Cost Estimate
I recently did a Cost estimate for the client of an Architect from a Sketch design drawing.
I remember it was a beautiful split level house drawn by an overseas architect, similar in style to those mid-century designs from America in the 1950’s.
The NZ Architect and Clients wanted an idea as to how this would translate in cost , if built now , on a NZ site.
The cost plan came out much as i expected. It wasn’t cheap. Never was going to be.
I heard the Clients shelved the project as it was more than they were prepared to spend.
I never heard from the NZ Architect again either. I guess they were peeved that the project had not gone ahead, a decent amount of work for them on an exciting project. I understand that.
However, the point of my work was not to present an attractive case and help the Architect land the job.
I was actually working for the Client and my aim is to present a realistic and accurate estimate of what i think that might cost in the context of the sketch design i was given.
That didn’t necessarily mean the project had to stop even though that was the decision the client reached.
There are multiple scenarios that could be manifested by the pricing information I generated including a change in design, a smaller design, build and fund in stages and so on but perhaps the hidden benefit of this for the clients was that they didn’t go ahead with this build.
Like so many others they could have found themselves in a budget blowout situation with few choices other than to continue and borrow more than they wanted to.
A cautionary tale in this case
However, mostly, the outcome will be to go back to the designer or Architect and relook at how changes can be done or the design tweaked to get what they need or functionality and the design aesthetics desired.
Often I have heard back from both Designer and Clients “that’s about what I thought it would cost”. In that case it is a confirmation and gives confidence to move forward with the design and add or subtract finishes , cladding materials in collaboration with your Designer because you know the impact these changes will have on your budget and finances.
By making early decisions with your build in the stark light of hard facts and numbers may mean you can have fun later on with ideas for your dream home or special project.
