Top Building Tip 2 – Know your foundation and engineering costs
Insider info goes a long way to help ensure you don’t end up with a lot of extras added to the construction cost of your home. The three most common ways that building companies ‘accidently’ add costs to the construction of your home are:
In this blog post, we are going to look at foundation and engineering costs.
Before you pay the initial sum of money to a builder, which is usually about $3,000 for the preliminary agreement, make sure you have looked at what site classification you have been quoted on.
Most builders will quote an M site classification which is standard for the Sunshine Coast, however there is a potential that your site classification might come back as a higher rating, consequently requiring additional foundation costs. The ratings follow an order from best to worst; S-M-H1-H2-P-E.
Find out more about soil classification here.
The exact increase in costs of the foundations cannot be determined until the engineered slab design is completed. However, a builder can provide a range of costs to give you a heads-up; it would be wise to request the builder put an indication on the quote of how much it will cost going from one class to another.
In many cases we have seen clients pay $3,000 to a builder based upon a quote that had an S or M site classification allowed, and when the soil test came back as a H1, the builder tried to charge an excess amount of $20,000! For many people $3,000 would have been the total amount they allows for the deposit, which unfortunately leaves them locked into paying the additional $20,000.
We suggest getting in writing from the builder you are getting a quote from to not only clearly state exactly what site classification you are being priced on but also what will the increase be if it comes in the next two levels higher.
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