I have just purchased some land on the Gold Coast and intend to build a PPOR for my young family. I have a budget of around $800k and want advice/tips as to how to manage the process and ensure I get the best end result and value for money.
My first question is architect or builder? I am leaning towards having an architect manage the whole process, and getting 4-5 builders to tender based on the spec provided by the architect. In the current climate I would hope that there will be builders out there who really want the work and that this will result in better pricing than you might get by going to a single builder for the whole design and build process. In addition, I will be overseas whilst most of the work is done and think it will be good to have the architect supervise the build and keep an eye on quality control.
Do any of you have experience in negotiating fees with an architect. It seems they charge 8-10% of total cost if they manage the whole process. Any thoughts on how negotiable this is and what would be a reasonable cost if I just want then to design the house (and then decide later whether I need them to project manage it as well).
Also, when dealing with the builders I want to fix the price (once agreed). Is there a standard form of contract or any provisions I should insist on to better protects my interests? Is there anything I can do to help protect myself from the consequences of a builder going bankrupt whilst doing the work?
Any of tips or advice, or recommendations for architects or builders on the Gold Coast, would be greatly appreciated as this will be the first home I have built. I look forwarding to hearing your thoughts or experiences.
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