Category: Blog

Section 94 contributions – otherwise known as reports – are not always required for development projects. The only time you’ll need a Section 94 contribution is if your project exceeds an estimated cost of half a million dollars. If this is the case, then a Section 94 contribution is for you. In today’s blog, we’re going to be looking at the reasons you might need a Section 94 contribution and what it entails.

What are section 94 contributions?

Section 94 refers to Section 94 of the Environmental Planning and Assessment Act 1979. The sole purpose of this report is to detail all the costs of any construction project whose estimated cost is $500,000 or more. The report authorises the council to levy contributions for public amenities and services due to the development.

Simply put, if the development costs more than half a million, then the council can request funds (the contributions) for surrounding infrastructure and services that may need to be built/improved as a result of your construction project. This could be anything from community buildings to roads.

Do I need one?

This is a question we get a lot of people asking us and the answer is very simple. If the estimated cost of your project equals to or exceeds $500,000 – then yes, you do need Section 94 contributions. If it’s under $500,000, however, then you won’t need one.

Are they complex to fill out?

It’s mandatory for Section 94 contributions to be filled out by a qualified quantity surveyor. This is so you don’t miss something or accidentally make mistakes. So, not only is enlisting the expertise of an experienced surveyor highly beneficial and will put your mind at ease – but it’s also legally required.

So, you don’t have to worry about their complexity or nuances. All you have to do is provide the relevant information to your quantity surveyor and they’ll combine it with their cost estimations to fill out the form. Using a highly qualified and experienced quantity surveyor like the ones at Section 94 guarantees you a high-quality standard of work.

Once the form is filled out it is then submitted to the local council with several other pieces of information for them to approve and have on file.

What else is included in the contributions scheme?

When Section 94 contributions are submitted, there are several other documents and pieces of information that accompany it. These include work schedules, maps, indexation formulas and any other information that’s relevant to the project.

Why do section 94 contributions exist?

As we mentioned earlier, Section 94 contributions exist as extra funding for councils in case any infrastructural developments need to be made around the area. It effectively allows the council to request money from developers that are working on projects over $500,000. The type of contribution that is required depends on your local council rates as well as the infrastructural project that is being undertaken.

The whole point of the form is so the levy from the council (when required) is delivered correctly. However, there must be a direct correlation between the proposed council development and the funds that are collected. For example, if a large number of new families are moving into the area – then the council may levy for a new public school to be built in the area as it directly impacts the increase in families.

Do you need section 94 contributions completed accurately and efficiently?

Section 94 forms can seem confusing sometimes, but they’re actually very simple once you understand them. Just remember that a qualified and experienced quantity surveyor should handle them. Here at Section 94, our quantity surveyors are just that – qualified, trained and experienced in all facets of Section 94 contributions. They’ll be able to accurately and efficiently complete the necessary forms and make the required estimations for your construction project.

Our experts also offer several other surveying-related services and solutions such as bank prefunding, handling construction budgets and dealing with progress claims. We operate within both the Melbourne and Sydney areas and can offer you quality, high-end service.

If you’d like to get in touch with us regarding Section 94 contributions, then please give us a call on 0413 953 869. You can also contact our Melbourne or Sydney offices.

There are many aspects that a building quantity surveyor deals with on a day-to-day basis. One of those aspects is a bill of quantities – or BOQ for short. No construction job should be authorised or executed without a bill of quantities. This alone should highlight just how crucial this bill is. So you know exactly what we’re talking about, we’re going to spend this blog going through the details of bills of quantities and attempt to help you understand them all a little better.

The basics

A bill of quantities is a document that lists every single item that’s involved in the construction project as well as the cost associated with it. This includes building materials, labour and any other elements that are required to complete the project. A standard BOQ template that is commonly used in Australia will have plant cost, labour cost and materials cost sections – amongst others.

With an effective bill of quantities put into place prior to the project commencing you can ensure that everything runs smoothly and as close to budget as possible. If there is no clear cost outlined, then the project could run into delays and even risk being shut down in some serious cases.

 

When is a bill of quantities drafted?

A bill of quantities is always drafted at the beginning of a project. This enables all parties involved to discuss the details and ensure that they’re all on the same page. When drafting a bill of quantities, it helps to have in-depth industry knowledge – which is why a qualified and professional building quantity surveyor should always handle a BOQ.

It’s not uncommon – especially on larger projects – for a bill of quantities to become quite a detailed document that can sometimes be hard to navigate by less experienced parties. A BOQ will also have contingencies included in the draft for things such as exceeding cost or delays that are most likely to occur.

 

The advantages of a bill of quantities

There are several advantages to a bill of quantities.

• Gives all parties an opportunity to explore all possibilities and details of the project and physically record the necessities.
• An effective bill of quantities will clearly outline in detail what is required along with cost and the full extent of the work that needs to be completed – essentially acting as a guide.
• Variation clauses may be included in case any variations need to be made during the project.
• It will lay out when particular items or materials need to be specifically purchased as opposed to buying everything at once – similar to progress claims.
• More accurate estimates when it comes to labour costs and requirements.
• The cash flow is able to be easily monitored and analysed by all appropriate parties.

 

What types of projects require a bill of quantities?

A bill of quantities is basically required for all types of construction projects ranging from civil contracts to home renovations to road constructions. As you can imagine, the document itself will vary slightly depending on what type of work is being done. Our building quantity surveyor team is well-equipped to handle any type of construction project and formulate an effective bill of quantities for it.

 

Difference between a bill of quantities and a bill of materials

Whilst a bill of quantities deals with all the materials and labour costs associated with a construction project – a bill of materials deals solely with the materials that are required and the specific cost of each item required.

For example, on a bill of quantities, you would list a cabinet as a single item as well as the cost associated with building it and the materials required to build it. However, on a bill of materials, you’ll list all the individual items such as screws, brackets and any other pieces required to build the cabinet as well as their cost.

So, a bill of materials is more of a detailed document that deals entirely with the exact costs and all the necessary pieces.

 

Are you looking for a building quantity surveyor?

A bill of quantities is a crucial and necessary element to any construction project and should be handled accordingly. Here at Section 94, we specialise in bill of quantities as part of our building quantity surveyor services. Our qualified and experienced building quantity surveyors can establish an effective and comprehensive bill of quantities report for your project.

If you’d like to get in touch with a building quantity surveyor, then give us a call on 0413 953 869. You may also get in contact us by emailing this address info@section94.com.au.

There’s a lot of terminology that gets thrown around in the construction world and it can be hard to keep up with them all. Things like drawdown reports and progress claims are common terms that will pop up during a construction project. Whilst not essential, it’s still helpful for you to understand these terms as it can also give you a better understanding of what’s going on. That’s why in today’s blog, we’re going to be focusing on progress claims in construction.

The fundamentals of a progress claim

A progress claim is essentially an invoice from the builder to the client for payments that are made progressively for the work that they’ve already completed. Depending on what was agreed upon in the contract, progress claims in construction can be made at particular time periods or after construction stages are completed.

The frequency of the payments also varies and are stipulated in the contract prior. In some cases, for example, a progress claim could just be a one-off payment if it is a small job.

When are progress claims useful?

If you do not want to pay the entire sum – or simply can’t afford to – of a construction project at once (a lump sum) then progress claims will come in handy. One of the reasons they’re so beneficial is because they allow you to only pay in smaller increments and also allow you to see the work that has been completed before paying.

It’s also a lot more comforting and reassuring when you can physically see the work you’re paying for both on paper (materials used etc.) and practically in person. This is also where construction loans come in.

Construction loans are a fantastic way to finance a home renovation or construction project as the bank will supply you incrementally with the money you need – allowing you to only pay interest on the amount that you borrow incrementally instead of the full amount of what you will borrow.

They also lend you the money in increments which corresponds with progress claims. As the client, when you receive a progress claim, you can pay it off and ask for the incremental loan from your bank for the next stage.

Progress claims and drawdown reports

When working on any construction project – regardless of the size – you’ll need a timeline. Well, a progress drawdown report is exactly that. It’s a schedule that also includes the points where progress claims are to be invoiced and paid. So, whilst a progress claim in construction is the invoice itself, a drawdown report is a timeline that outlines when they’re to be made.

SOP act

Abbreviated to SOP, the Building and Construction Industry Security of Payment Act 2002 was created to ensure that builders and other contractors are paid for the work they complete. As various disputes arise every so often, the SOP act was designed to present a quick and affordable option for payment recovery under a construction contract without the need for a lawyer.

Who provides progress claims?

Qualified quantity surveyors (such as those at Section 94) can provide comprehensive and detailed progress claims. If you’ve taken out a construction loan, for example, then you’ll have to sign the tax invoice and take it to the bank. They’ll approve the progress claim to ensure that everything is in order before allowing the next amount of your loan to be released to you.

Are you looking for progress claim experts?

Progress claims in construction are very handy and hold a lot of value in a project. Not only do they simplify the financial end of things, but they also ensure there’s a detailed paper trail and clear outline of the tasks that have been completed. If you’re a builder, then you won’t want to be distracted by the meticulousness of a progress claim.

That’s why we suggest utilising our progress claim construction services. Here at Section 94, we’re fully qualified and well-experienced quantity surveyors. The years of hands-on experience has given our team a unique insight into the construction world and the subtleties that surround it.

We also supply several other quantity surveying services such as writing up section 94 reports, drafting construction budgets and handling bank prefunding.

If you would like to know more about our progress claim construction services, then please give us a call on 0413 953 869. You may also contact our Melbourne or Sydney pages respectively.

There are a lot of processes and regulations involved in construction projects. Even smaller projects require such in-depth planning to execute. No matter the size of the project, though, progress drawdown reports are essential to completing the job. In today’s blog, we’re going to be diving into the particulars of the report and how progress claims fit into it.

What are they?

Put simply, a progress drawdown report is essentially a schedule that outlines the timeline of the entire construction project. The defining feature that separates this from other timelines is the fact that there are markers on this schedule that outline the funds that are needed at particular times.

The function of this report is so that the appropriate amount of funds is allocated to the builder in controlled increments – instead of a single lump. When this type of report is drawn up, it is to ensure that only the correct amount of funds is allocated. The correct amount is estimated by a qualified quantity surveyor.

Who prepares them?

Progress drawdown reports should be prepared by a qualified quantity surveyor – such as the ones at Section 94. Having a dedicated quantity surveyor to do all the estimating and planning gives you a huge advantage because if you’re the home-owner, you may not have the experience necessary, and if you’re the builder then you’ll have your plate pretty full with the rest of the project.

A quantity surveyor will work closely with the builder to ensure that every facet of the project is estimated accordingly and that there is no unnecessary expenditure in the budget. It’s not about using the cheapest materials – but using the most efficient and optimising the process for the builders.

Why are they so important?

There are several reasons why these types of reports are not only important – but also integral to a construction project. They help to ensure that the whole project runs smoothly and to schedule. They also work towards guaranteeing that the money is being used explicitly for what it’s meant to be used for – as per what was estimated by the quantity surveyor.

Another reason is that because the funds are released incrementally, it allows for the whole project to run to a tighter ship – allowing very little margin for error. By controlling the funds this way you’re also guaranteed more security being as builders are required to give proof of what they’ve completed so far before they’re allowed access to the next round of funds.

How do they relate to progress claims?

Whilst progress drawdown reports are great ways of keeping your construction project on schedule, you’ll still need to show proof that everything is going according to the planned report to receive the next payment increment. This is where progress claims become relevant.

Progress claims are invoices that itemise the work that has been completed on a building project to date. These are required so that the next increment of funds can be released to the builder – allowing them to continue their work. Progress claims should be shown to the homeowner as well as whoever is supplying the loans. Banks will usually pay the money directly to the builder – provided they qualify and meet the requirements.

Interest and construction loans

Depending on who loans you the money, you may only have to pay interest on what is allocated to you at a time – as opposed to the entire amount. So, if you get a loan for $100,000 but only use $75,000 by the end of the project, then you won’t have to pay interest on that remaining $25,000.

This is called an “interest-only period” and can run for a varying time at the beginning of the project. This is where construction loans come into the mix. Construction loans can be very handy when building a home or planning a renovation as they’re designed specifically for these purposes.

Do you need progress drawdown reports?

Whether you’re looking at starting a new construction or renovation project, you’ll need to have an effective progress drawdown report in place. Section 94 can help you will all your quantity surveying needs and ensure that your construction project is estimated appropriately. With years of hands-on experience, our fully qualified quantity surveyor’s will work with you to ensure that your needs are met. Some of our other services include section 94 reports and bank prefunding.

If you’d like to get in touch with us, then please give us a call on 0413 953 869. You can also contact us at either our Melbourne or Sydney offices.

Deciding to renovate is not an easy choice. It’s not just about deciding what else you want within or added to your home. You also need to consider how it’s going to be financed. Things like section 94 contributions and construction budgets need to be put in place before any work is commenced. This way, you can ensure that your renovation runs as smoothly as possible. For some, the trickiest part about performing large-scale renovations can be financing them. Today’s blog will be looking at different ways that you can finance your home’s renovation, so let’s get straight into it!

1.   Use your own money

This is the obvious option, but also may not be very viable for some people. If you have the money, though, then using it to fund your home’s renovation would be the easiest choice. This is also the safest option, financially speaking. Paying out of your own pocket doesn’t just mean savings you may have – but also includes any investments that you can cash in and use.

If you are looking to go down this route, then be sure to leave enough money in your savings so you’re not left too out-of-pocket. The last thing you want is to spend everything on renovations only to have an unexpected financial obstacle sprout up soon after.

2.   Redrawing from your home loan

If you have a home loan and have been paying more than the minimum monthly repayments, then you could use that money to finance your renovation. Redraw is where your bank allows you to borrow some of that extra money that you’ve paid towards your home loan. This can be an effective and easy way to finance your renovation – if the circumstances apply to you.

3.   Using your equity

Your home equity is the difference between your home’s valuation and your remaining mortgage. This is only an efficient means if you have achieved a usable amount of equity in your home by either bringing your home loan down or if your property has increased in value since you purchased it.

4.   Using a line of credit

With a line of credit, you may borrow from the credit as you need it and the interest is only calculated based on what you’ve borrowed – instead of the total amount. This works similarly to a credit card in a lot of ways. You only have to pay back the amount you’ve borrowed (plus interest on that amount) – instead of the entire credit limit.

You can also go for a line of credit against your home – which uses equity as security. You can only use this type of loan if your equity is substantial. One advantage of this is that since the lender will have your home’s equity as security, there may be a lower interest rate than usual. Using a line of credit to finance your home is especially helpful when paying for materials or contractors, as you can withdraw money from it as you need it.

5.   Personal loan

For a credit line, you may borrow as much as you need from the predetermined amount and only pay interest on what you borrow. For a personal loan, however, you borrow the entire amount at once and must pay it back in monthly instalments with the additional interest. That is the primary difference between the two. If you’re considering a personal loan for your renovation, it’s best to establish how much you’ll need – such as if you’re going to need to rely on the loan to finance the entire project or just part of it.

6.   Construction loan

These types of loans are designed specifically for building and renovation projects. They offer you the money you need incrementally, so that contractor fees can be paid on time. This allows you to control the cash flow as you will only need to draw down the money as you need it. You will also only be required to pay interest on the amount that you have drawn down as opposed to the entire limit of the loan – similar to a credit line.

Thinking of renovating your home?

If you’re looking at renovating your home, then you’ll need to keep in mind that section 94 contributions may need to be made – depending on the value of the renovation. That’s where Section 94 comes in. Our highly experienced and premium surveying services encompass everything from quantity surveying to detailing section 94 contributions and reports.

So, if you’re considering renovating your home and require some assistance with construction budgets or other surveying services, then please give us a call on 0413 953 869. You may also get in contact with our Melbourne or Sydney teams.

Renovations are something that’ll probably come up in your home’s life at one point or another. It can be a fun and exciting time – out with the old and in with the new! But it can also become a black hole for your funds if you aren’t careful. That’s where the trusted quantity surveyors at Section 94 come in. A quantity surveyor will assess your renovation project and give you a realistic number regarding the cost involved. But there are other things you can do to proactively and efficiently maximise your expenditure when renovating – and that’s exactly what we’ll be discussing in today’s blog!

General considerations

It’s often mentioned that for renovations, you should spend no more than between 5 – 10% of the property’s total value. This is to avoid over-capitalising and spending more than what you may one day sell it for. You also need to consider whether you’ll be undergoing a structural renovation – that is, a renovation that involves altering the structure of the home – or simply a cosmetic renovation.

Also, consider how likely it is that you’ll be undergoing future renovations and what size they’ll be. You don’t want to pour your entire budget into this renovation if you’re planning on undergoing a future one.

Are you renovating to sell or for yourself?

If you’re planning a renovation with the intent to sell the property, then you’ll want to take a different approach to things. Updating features such as benchtops or adding stylish carpet to the property will boost your sale price. You’ll want to aim towards making the property look as fresh and as trendy as possible – allowing it a chance on the competitive housing market. Here’s the catch though: if you’re looking to sell, you don’t want to put too much into it.

Don’t get the best of the best in kitchen appliances – for example – but install well-functioning appliances that look the part. Ensure that there’s an even spread of aesthetics and functionality at an affordable price for yourself that won’t take much away from your possible selling price. Remember, you’re trying to sell the house – literally and figuratively.

This mentality changes, though, if you’re renovating for yourself. Whilst you should still try not to go overboard, there are some areas where this can be acceptable. As all the renovations will be based on your personal preferences, you may want to spend a bit extra in certain areas that you know you’ll benefit from. We’ll use the example of the kitchen again. If you enjoy cooking and you know you’ll get a lot of use out of your cooktop, then spending a bit more money there would be a smart choice for you.

Analyse and compare quotes

Be sure to study the quotes you receive from various contractors. Request an itemised quote so you can clearly see what your money is going towards. Don’t wait too long if you’re shopping around either, as some quotes may only be valid for a certain amount of time. The last thing you want is a quote to expire – especially if you realise that it was the best one you had. Don’t just look at the cost of all of them, but take note of other details (such as timeframe) as well.

The cheapest quote may take a lot longer to complete – which may or may not be a problem for you. Also, if you can, keep an eye out for the quality of products being used – especially if you’re going for a structural renovation – as you don’t want your contractors to use cheaper, less-reliable materials just to cut costs. Consider all aspects – you may find that you can cut costs by going with a contractor with a longer timeframe in mind as you don’t have a deadline.

Are you planning to renovate your home?

Whether you’re planning on renovating your home to sell or to further enjoy yourself, you’ll want to enlist the services of a quantity surveyor. Section 94 is a team of fully qualified and licenced quantity surveyors who can help accurately estimate what you should be paying for your renovations – ensuring you’re not paying more than you should be. Section 94 also offers a variety of other services, including bank prefunding, construction budgets and progress claims.

So, if you’re planning on renovating anytime soon and require a quantity surveyor, then please give Section 94 a call on 0413 953 869. Alternatively, you can get in touch with our Sydney or Melbourne offices.

Planning to undertake a commercial or industrial-sized construction project? If that’s the case, then you’ll need to think about working with an S94 quantity surveyor in Sydney. Quantity surveyors are one of the most important people involved in a large-scale project, and they’ll help to see your project through to success. But what exactly does a quantity surveyor do, and what are their key responsibilities? We’re answering all your questions today!

What is a quantity surveyor?

Quantity surveyors are qualified professionals who are knowledgeable about a range of construction costs and contracts, allowing them to devise a budget that minimises project expenses without compromising on results.

Quantity surveyors will have usually gained their qualifications through a tertiary degree and work experience, allowing them to be eligible for a membership at the Australian Institute of Quantity Surveyors (AIQS). Checking for the AIQS membership is essential when you are looking to work with a quantity surveyor. The AIQS ensures that high standards of surveying are maintained by checking the surveyor’s compliance with industry standards and regulations.

What are the key responsibilities of a quantity surveyor?

Quantity surveyors are predominantly responsible for drawing up the Bill of Quantities (BOQ), a document that details specific quantities of materials and labour required to complete the project as outlined in the tender documents. In fact, the BOQ is where the title ‘quantity surveyors’ actually originates.

Aside from preparing the BOQ, a quantity surveyor will also advise construction professionals on any relevant costings and contracts throughout the life of the project. They also play a significant role in some projects where post-construction advisory services are needed, such as for tax depreciation schedules, replacement cost estimation for insurance purposes, and even mediation and arbitration.

This, however, is not all that a quantity surveyor does. Some other key aspects of their role include (but are not limited to):

• Advising project managers on how to achieve the best outcomes in the most economical way, using cost planning, cost estimates and value management
• Liaising with construction professionals (such as architects, engineers, suppliers and builders)
• Interpreting and understanding architectural and engineering blueprints and specifications
• Reviewing changes to design and construction plans to assess the impacts on cost, and ensuring the project remains on-budget
• Resolving disputes regarding budget and/or schedule.

Assistance with cost summary reports

As stated by the Inner West Council of NSW, “Section 94 of the Environmental Planning and Assessment Act 1979 permits Council to levy or require provision of facilities or land where, as a consequence of development, the increased number of residents or workers will result in an increased demand for those services.”

A cost summary report (also known as a Section 94 report) helps to ensure the correct levy is paid, as per Section 94 of this law. Essentially, a cost summary report is a document that details construction project costs in a realistic manner. It is usually submitted to the council for development projects that have an estimated cost of $500,000 or more.

Section 94 reports should always be completed by a quantity surveyor to ensure maximum accuracy is achieved. Because quantity surveyors are independent parties, they will be able to complete the report to the value of the council requirements – as opposed to applicants, who are at risk of undervaluing costs or, alternatively, overpaying their levy to the council.

Preparing reports for finance approval

Quantity surveyors also prepare reports for finance approval from lending organisations. This helps lending organisations verify the cost of the project to ensure it is costed at its true market value. Ultimately, these reports assist in confirming whether projects are feasible, thus reducing risks associating with releasing funds on a loan.

Work with a qualified quantity surveyor in Sydney or Melbourne

Section94 is a team of quantity surveyors in Sydney that is dedicated to supporting both residential, commercial, industrial and government projects with quality surveying services. With our qualified and AIQS-certified surveyors, you’ll have peace of mind that your project will be delivered on-schedule and on-budget. We’ll be there to see your project through from start to finish with fast turnarounds on construction budgeting, Section 94 reports, bank prefunding, and any other required documents or services you may require.

Wherever you are located in Sydney, our quantity surveyors will be prompt to respond and visit you onsite to discuss your project further. We also provide quantity surveying in Melbourne, with a strong knowledge of council requirements for both major cities.

To discuss your next project with an S94 quantity surveyor in Sydney or Melbourne, simply give us a call on 0413 953 869.

The experts in home renovations will often tell you that renovating can be a great investment. However, if not planned currently, spending on the wrong renovation projects can find you in a worse financial position than before the project begun. In this blog, we’re explaining how to plan a profitable renovation project, and why an S94 quantity surveyor in Sydney is crucial to the success of your plans.

What exactly is over-capitalising?

Over-capitalising is the term used to describe a renovation project that has not increased the value of a home (or another project) by more than what was outlaid. If you were to sell the home immediately after the renovation or improvement, for example, you would lose money compared to if you had not undertaken the project.

To move out or renovate?

How long do you intend to live in the home for? It is more important to take note of renovation expenses and costs if you intend to sell straight away or in the very near future. A project that is enjoyed over time is more likely to increase in value and thus gain back the outlay pre-sale (plus, you’ll also get the bonus of enjoying the renovation beforehand!).

Typically, a homeowner will renovate because they enjoy the locality of their place of residence – as opposed to relocating, which is attached to a string of additional costs, as well as potentially long waiting times.

If it is space or styling that is playing on you, a good renovation could alleviate some of the pain instead of packing up and shipping out. Therefore, before you make a decision on moving out or renovating, you need to weigh up all the pros and cons and set a realistic renovation budget for all the projects you want done before making up your mind.

Is it worth renovating?

The first thing you need to know is that not all improvements will increase the resale value of a home. Although renovations and improvements can be about making a home more liveable or likeable, if your primary reason for renovating is to boost the resale value, you need to understand which home improvements will help you achieve that goal. At the end of the day, you want to increase the value by more than the cost of work – not the other way around.

Pay attention to locality

Before outlaying any money on a renovation, you must always research the local market. Educate yourself on the average and top prices of similar homes in the area. Make sure you have a grasp on prices pre-renovation and what your home may be worth after the work is complete. This will provide an indication of what people are really prepared to pay, regardless of how proud you are of the finished project. For complete peace of mind, you may also want to consider arranging a professional valuation of your home, or employ the help of an S94 quantity surveyor in Sydney to give you an idea of how much the renovation will cost.

Stick to a budget

Once one of our quantity surveyors in Sydney gives you a cost estimate, you’ll be able to plan a realistic renovation budget. Know your maximum amount to spend based on local comparisons and stay within that range.

Know your future demographic

If you are renovating for resale, it is vital to consider the demographics of your future homebuyer. Who are you selling to and what features of the home are most important to them? Is your local area more attractive to singles, couples or families? What impact will your planned renovations make on their wants and needs?

If you are not sure, consider having a chat to a local real estate agent to gauge what buyers in your local market are seeking. Don’t throw away money on renovations that are unattractive to your market and demographics.

Avoid over-capitalising with a quantity surveyor in Sydney

A successful renovation comes down to clever planning and thorough research, well before any tool is picked up.

For help with your renovation project from concept to completion, just get in touch with a Section94 quantity surveyor in Sydney. We offer plenty of information and quality estimating services for residential projects and renovations, such as quantity surveyor reports, council approval applications and estimator insights for any construction or renovation project.

Want to know more about how to plan a renovation budget? Get in touch with one of our quantity surveyors in Sydney on 0413 953 869 today.

Over time, strata properties can become dated. From the fading façade to the creaky elevator, the ageing features – despite being liveable – can start to impact existing residents as well as those looking to move in or invest. Unfortunately, this can cause the value of your property to remain stagnant or even decline. Want to know how to raise the property’s value instead? In this blog, we’re showing you how exactly you can achieve this through renovation projects, and how you can kickstart the process with a Section 94 quantity surveyor in Sydney.

Why should I invest in property maintenance?

From the perspective of a strata manager, property maintenance (aside from the bare minimum) may seem like a costly endeavour. However, in the long term, renovation projects on your strata property generate a great (and ultimately, higher) return on your investment. In fact, the right project can deliver a higher ROI by:

• Raising the value of your strata property
• Detecting and resolving other potential issues through close inspection.

5 projects that will raise the value of your property

#1: Give common areas a facelift

While most strata managers keep their properties in basic working order, transforming a space can really improve the value of your strata property. Communal areas in particular – such as barbeque spaces, hallways and the lobby – can get run-down over time and a simple facelift can keep your property up-to-date. A facelift can be as simple as a new paint job, fresh tiles, or a new play area in the shared entertainment area.

Taking care of these seemingly small elements will help create a great first impression for potential buyers or investors, as well as boosting the morale of residents.

#2: Upgrade the building’s security

A good security system makes any strata property an attractive choice for investors and potential residents, especially if the building is situated in an inner-city location. Older buildings in particular have a notorious reputation for outdated security measures, such as insecure entrance doors and letterboxes. Therefore, upgrading these areas will give your property an edge over the rest, ultimately increasing its value.

#3: Invest in sustainability

These days, more residents and investors are concerned about environmental issues such as climate change and sustainability. Not only have these environmental concerns started to impact the choices people make from day to day, but they’ve also begun to affect where people live. Plus, a more sustainable property often means reduced energy bills, which every potential resident will appreciate. Some sustainable measures you can implement include:

• A communal vegetable garden and composting system
• Energy efficient lighting or more natural lighting.

#4: Update key areas of the façade and interior

Sometimes a simple facelift isn’t enough to truly transform a space. In this case, a larger upgrade may be required for heavily used and publicly visible areas, such as the elevator and balconies. Balconies in particular have an immediate impact on how the property is perceived, since they are a part of the façade that is visible to the public. Although they seem like a hefty investment, better balconies and elevators are certainly plus points for new residents and investors looking at your strata property.

#5: Keep on top of basic maintenance and repair

Of course, it is imperative to pay close, regular attention to the necessary repairs and upgrades that need to be completed on your strata property. In fact, the strata manager or owners corporation management actually has a legal responsibility to keep the property in a state of good and serviceable repair, under the Strata Schemes Management Act 1996 (NSW). This includes replacing and repairing fittings and fixtures, and ensuring the property is functional and liveable for its residents.

Budget for your strata project with a quantity surveyor in Sydney

Before starting any building project, you’ll need to plan your budget. Not only will your budget determine the materials and labour you’ll use to execute your renovations, but it will also help you plan a realistic timeline for your project. But budgeting, keeping financial records and managing finances can be extremely difficult and time consuming to handle.

This is where a Section 94 quantity surveyor in Sydney comes in. Our quantity surveyors support you from start to finish with detailed reporting you can rely on. We’ll help you create a construction budget with cost estimates, provide recommendations on cost management, and keep your finances under control. Our quantity surveyors simplify the logistics of your strata project, meaning you can focus on running a successful project.

Thinking of starting a project that will raise the value of your strata property? Get in touch with a Section 94 quantity surveyor in Sydney today on 0413 953 869.