Quote V eventual builders costs

T

Toby

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We are about to hire a builder to build an extension and I'm wondering how sure we can be that the eventual cost will resemble the quotes hes given us. Hes given us a detailed breakdown of his costs but I'm just worried that, since we're not builders, how do we know that a significant part of the work hasn't been left out and we'll only find out about it and the cost involved during the project? I do plan to get the building contract template given by the RIAI but just wondering does anyone have any other advice. Have heard scary stories about costs doubling during a build and we just couldn't afford that! Thanks.
 
We've had this thread before but this refers more towards completion of the work. Hopefully others will be able to provide some helpful advice. :)
 
Ask for a fixed price contract. It might cost more but your're shifting the risk to the builder.
 
Thnaks to both of you. Sluice44 can you explain a bit more what a fixed price contract is please. Surely new things can always pop up in a build, try as we may to itemise it all in the contract. How can we be sure that they have included everything in the quote and won't turn around and say something we thought was included will need to be paid for seperately? I just feel like the builder has a huge advantage of knowledge over us. I have heard so many stories of builders' final amounts being twice what was quoted - is that just due to bad planning would you say? Thanks.
 
Just a few points:

firstly and most simply the cheapest price is not the best i.e. what I think is that some builders will leave something out that you have failed to add knowing that you'll need to add it to the contract at a latter stage and they can price low to get the job and then when you ask for a price for item X to be included they add 150% of that proposed cost to the final price.

Now you say that
"I do plan to get the building contract template given by the RIAI ", well maybe if you paid a qualified architect to project manage your job you could trust the price given? a decent architect will spot any discreps.

I suspect you'll have difficulty in finding a builder to build an 'extension' using a fixed price contract, i.e. all good builders are busy and they'd just move on rather than take on the risk?
 
A fixed price contract is one where the builder agrees to build your extension for a fixed price. The risk & cost (of running late, staff downtime etc) is transferred to him.

The Irish Govt is increasingly using fixed price contracts to build our roads and, surprisingly, the jobs usually finish ahead of time and on budget!!

But, as jbob implies, there's a big difference between a multi-million euro road job and your extension. No harm in asking though?
 
Thanks, I'll ask about the fixed cost contract. We got 3 quotes and the cheapest is fortunately the builder we have a good recommendation for from someone we trust. Your comments make me realise though I should compare the quotes more closely to see why he's cheaper and make sure he hasn't obviously underestimated something.

Your comment
"some builders will leave something out that you have failed to add knowing that you'll need to add it to the contract at a latter stage and they can price low to get the job and then when you ask for a price for item X to be included they add 150% of that proposed cost to the final price."

is exactly what I'm worried about. I need a term to describe a "well built" extension that I can get him to sign something that says he will build it properly according to our plans.

Thanks
 
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