How much will it cost?

1. Project budget - This sum is confirmed by you as client, but remember construction cost and budget cost are not the same. You may need advice as to how much new work can be achieved within your budget. This sum will need to include building costs, design fees and expenses, fees for local authority approvals, an allocation for unknown contingencies, VAT, and for any furniture, equipment, land, finance or other costs specific to the project.
   
2. Construction cost - Can be estimated by the architect, but you should be aware that estimates made at the early stages of a project will be approximate. There can be no single ‘proper price’. Absolute accuracy is impossible and the less information available on which to base a cost, the wider the cost range will be. Even at tendering stage the lowest offer may well be half the price of the highest!
   
3. Tender Costs – Only once priced tenders are received can the likely final cost be reasonably accurately defined. However, these can be altered as the project develops on site, due to late alterations to design or specification.
   
   
   

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