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<blockquote data-quote="Foxhollow" data-source="post: 7359495" data-attributes="member: 520"><p>The problem people get into with getting a builder is that there generally is not sufficient detail for them to adequately price the job and also they do not ask for lump sum prices. When we did our house, which was gutting the existing and adding 2/3 additional floor space. I made sure we had a fully detailed set of drawings for everything. Then this was broken down into a detailed spec and very itemised work schedule. We then went to tender to 5 builders based on a lump sum contract with a time duration for doing the works proposed by the builder. The contract then had penalty payments per day if he was late.. When all 5 tenders came in the difference in price from the most expensive to the cheapest was 10%. As part of our build was refurbishment I knew that there was always going to be unknowns so allowed 10% contingency within my own budget. Overall the whole build price was the contract price and 8% which covered item for some unknowns such as once we removed some flooring there was some new joists to put in. Also we amended the lighting spec to full LED everywhere.</p><p>I was on site every day and got any problems agreed there and then backed up by written confirmation straight after. Also the builder was only paid for the work he completed so there was no upfront payments. Any builder usually has at least 30 days credit with suppliers. He got paid the amount that he had put in each itemised item in the tender. Every month we agreed what had been done in the month and he sent through an invoice which we paid within 24hrs as we had agreed the value of work done in the month together before him submitting his monthly invoice. </p><p>This way there is no incentive for him to take more time over things also if he took longer that was his risk.</p></blockquote><p></p>
[QUOTE="Foxhollow, post: 7359495, member: 520"] The problem people get into with getting a builder is that there generally is not sufficient detail for them to adequately price the job and also they do not ask for lump sum prices. When we did our house, which was gutting the existing and adding 2/3 additional floor space. I made sure we had a fully detailed set of drawings for everything. Then this was broken down into a detailed spec and very itemised work schedule. We then went to tender to 5 builders based on a lump sum contract with a time duration for doing the works proposed by the builder. The contract then had penalty payments per day if he was late.. When all 5 tenders came in the difference in price from the most expensive to the cheapest was 10%. As part of our build was refurbishment I knew that there was always going to be unknowns so allowed 10% contingency within my own budget. Overall the whole build price was the contract price and 8% which covered item for some unknowns such as once we removed some flooring there was some new joists to put in. Also we amended the lighting spec to full LED everywhere. I was on site every day and got any problems agreed there and then backed up by written confirmation straight after. Also the builder was only paid for the work he completed so there was no upfront payments. Any builder usually has at least 30 days credit with suppliers. He got paid the amount that he had put in each itemised item in the tender. Every month we agreed what had been done in the month and he sent through an invoice which we paid within 24hrs as we had agreed the value of work done in the month together before him submitting his monthly invoice. This way there is no incentive for him to take more time over things also if he took longer that was his risk. [/QUOTE]
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