PRELIMINARY BUDGET – estimate

We completed a Preliminary Budget for a home owner working with their architect in building their dream home in Ocean Grove VIC. The project is a palatial 400m2+ family home featuring 5 bedrooms, bunkroom, den, 4 bathrooms, living, dining, 2 garages, gym, pavilion, pool and tennis courts in Ocean Grove VIC.

The client was working closely with the architect to deliver their complete vision with all inclusions. We were engaged to determine the costs of option 1 with all inclusions (Buckingham Palace option) and option 2 being the middle ground to meet their budget (Frogmore Cottage option).

Our budget gave clear understanding of what our client can achieve with the budget they have. As the drawings were in a preliminary stage of a floor plan and elevations (30% documentation complete), our client was able to know the costs prior to committing time and resources with comprehensive documentation (90% documentation including joinery, interiors, finishes, fixtures schedule etc).

The advantage of being able to measure somewhat financially will assist in controlling a greater outcome.

$4.4m project cost (original plans)
$2.4m project cost (after cost engineering to meet clients budget)