Embarking on a construction project can be daunting, with numerous factors to consider and potential challenges to overcome. In such situations, having a building quantity surveyor by your side can make all the difference. These professionals can help guide the construction process, offering invaluable assistance and expertise at every stage. From helping you set realistic budgets to ensuring compliance with regulations and overseeing financial aspects, a building quantity surveyor is an essential partner in the construction journey.

Determining Budget in the Preliminary Design Stage

Determining the budget in the preliminary design stage is crucial for managing cash flow and ensuring the smooth progression of construction projects. Various factors, including contractor availability, interest rate fluctuations, adverse weather conditions, and material price fluctuations, can impact project timelines and budgets. To mitigate these risks, accurate construction cost reports are essential. Engaging a qualified building quantity surveyor helps to navigate the complexities of construction projects, minimising the risk of budget overruns and delays.

These professionals prepare comprehensive cost reports before project commencement, providing ongoing updates as necessary. By inspecting development plans and consulting industry standards like the Australian Cost Management Manuals, quantity surveyors calculate development costs accurately. They consider factors such as main elemental costs (e.g., superstructure, substructure) and sub-elemental costs (e.g., windows, air conditioning), providing detailed insights into project expenses. Through this process, stakeholders gain a clear understanding of expenditure distribution, enabling them to manage finances effectively throughout the project lifecycle.

DA & Section 94 Reports

If you’re a developer gearing up for a project with an estimated cost of $500,000 or more, local council regulations may require you to provide Section 94 contributions. These payments facilitate the provision of new services and public amenities to accommodate the needs of the community impacted by your development. Section 94 reports, also known as cost summary reports, play a crucial role in ensuring compliance with council levies under Section 94 of the Environmental Planning and Assessment Act 1979. These reports meticulously detail all construction project costs, ensuring accurate calculation of required contributions. Working with experienced quantity surveyors is essential to navigate this process efficiently and accurately.

A building quantity surveyor acts as a neutral, independent party, ensuring adherence to council standards and minimising the risk of undervaluing or overpaying contributions.

Financial Planning

Before proceeding with your development project, securing finance is a crucial step, and obtaining a bank prefunding report is essential for this process. These reports provide banks with a comprehensive overview of your project’s costs, potential return on investment, and your ability to repay the loan. Working with experienced quantity surveyors ensures that these reports are thorough and accurate, meeting the stringent requirements of major Australian lenders such as Westpac, CBA, and NAB.

Bank prefunding reports involve detailed assessments of your chosen builder, comparisons with benchmarked data, and the presentation of fixed-price building contracts. Additionally, for larger developments, evidence of pre-sales may be necessary. Following finance approval, lenders may request ongoing updates on project progress, including progress drawdown reports and cash flow statements. Engaging reputable quantity surveyors mitigates risks associated with unreliable builders, ensuring a smooth project execution. These professionals consider various factors such as site size, zoning regulations, concept drawings, builder’s track record, material and labour costs, project feasibility, timelines, and overall project viability to provide comprehensive reports that meet all financing requirements.

Construction Phase

During the construction phase, progress drawdown reports are vital documents in the payment process for projects. These reports provide project financiers with the assurance that milestones have been achieved, facilitating the release of funds for ongoing work. Conducted with thorough attention to detail, these reports involve comprehensive site inspections to verify milestone completion and compliance with relevant regulations and standards. By closely monitoring project progress and identifying any deviations from budget or design, drawdown reports help ensure projects remain on track and financially viable.

A qualified building quantity surveyor can ensure all aspects of the project are appropriately documented. The process typically includes evaluating progress claims, confirming design compliance, checking insurance coverage, and validating other necessary certifications and permits. Such detailed reports not only provide transparency but also contribute to the successful management and execution of construction projects.

Why choose a building quantity surveyor?

In the world of construction, making the right choice when selecting a contractor can make all the difference in the success of your project. Engaging a building quantity surveyor from Section 94 ensures that your project has an experienced professional on your side throughout the entire construction process.

With over a decade of industry experience, our qualified building quantity surveyors are AIQS certified with a fast turnaround time and clear communication. Give us a call today at 0413 953 869 or email us at info@section94.com.au to discuss our quality budget services for residential and commercial builds.