Top Four Ways Quantity Surveyors Can Help You Save Money on Your Construction Project
Construction projects can be expensive, and as an investor, you need to be creative about cutting costs without sacrificing quality. A quantity surveyor can help you save money throughout your project from the planning stages until the very last task is complete. Here's a look at how these professionals can help:
1. Creating a budget
Quantity surveyors are trained and experienced in the art of construction. They can look at your blueprints and your proposed site, and they can estimate the total cost of your project. They can also create a timeline so that you know which expenses to expect and when.
By creating a budget for you, a quantity surveyor helps you visualise the financial aspect of your project. This ensures that you can afford the project. It also helps to ensure that you don't run out of money halfway through or get forced into taking out any loans for unexpected expenses.
2. Keeping the project on track financially
Even with a budget and a detailed plan, in the midst of a construction project, you may have to make small changes. For example, you may not be able to find a certain material and have to substitute another one with a different price point. Similarly, your foreman or some of your workers may quit, and you may have to replace them with substitutes who charge different pay rates.
A quantity surveyor monitors these happenings throughout the project. They include these expenses into the budget, and they make adjustments as needed to ensure that you stay on track financially through the project regardless of what happens.
3. Negotiating costs
Quantity surveyors don't just estimate costs and create budgets, they also work with your contractors and vendors. Quantity surveyors know the construction world. They often have great vendors or workers as contacts, and they know how to negotiate to ensure you get the lowest and fairest prices possible.
4. Claiming write offs
Quantity surveyors can help you estimate construction expenses for your tax return. They are recognised by the Australian Taxation Office, and they can help ensure you don't miss any important deductions.
Remember that when you file your tax return, you can deduct your investment expenses from your income. The more expenses you deduct, the lower your income is on paper and the lower your tax burden is.
To learn more about how quantity surveyors can help you save money on your next construction project, contact one.