Unit Development - Architect Costs Need your validation

Viewing 4 posts - 1 through 4 (of 4 total)

kris07
Participant
@kris07
Join Date: 2007
Post Count: 101
March 14, 2012 - 2:34 am
Hello everyone,
Finally taking the plunge to undertake my first property development which will be constructing 2 X 3bdr units/townhouses off the back of an existing dwelling.
Received a quote from my architect for drawings, permits and project management etc which came to $31K (e2e). Plus surveyor, soil testing, structural engineering costs of circa $10K. So total costs before building will be around $41K
Of course I will be obtaining other quotes, however wanted to put it out there to you guys to see what you think.
The property in located in Victoria. Looking forward to hearing your thoughts.
Thanks,
Kris
mattnz
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@mattnz
Join Date: 2007
Post Count: 574
March 14, 2012 - 12:57 pm
Including project management that sounds good.
kris07
Participant
@kris07
Join Date: 2007
Post Count: 101
March 14, 2012 - 9:28 pm
Thanks Mattnz.
In terms of additional costs, what are the things I should be weary of to manage risk? Are there standard terms that you normally use?
christianb
Participant
@christianb
Join Date: 2009
Post Count: 386
March 22, 2012 - 1:03 am
Kris,
Not sure if I provided the quote. If so, forgive my bias!
The fees look to be around the mark. As for the second part of your question, my process works like this:
One: Assessment. Do the planning and feasibility background to make sure it all works.
Two: Strategy. Put together some basic documentation to communicate your proposal.
Three: Concepts. Using the information gained in the first two steps, and integrating municipal feedback, create concept plans.
Four: Application. Make formal application for town planning approval.
At this point, pause, take breath and consider your options.
A town planning permit (TPP or DA) is "currency" and it is worth money.
Five: Detail. Turn the TPP drawings into working drawings.
Six: Build. Find the right builder – by tender, recommendation or otherwise – and build the project.
Seven: Realise. Sell, rent or a bit of both.
Hopefully this serves to explain a little bit about the process and terminology.
Further, I would suggest the following.
The biggest decisions you make will cost the least amount of money.
But that does not mean they are not the most important decisions.
Many people are happy to put in another $5,000 at the end of the project to, for example, change from carpets to polished timber floors, but are less willing to spend a similar amount at the start to understand how they can put together a proposal that will make them an extra $100,000.

Best wishes for your project.