When you build with a builder on a fixed-price contract, the lender has a single number to look at. In an owner-build there usually is not one, so the lender relies on a quantity surveyor to check that the budget is complete and realistic.

What the QS looks at

  • Completeness of the budget. Every trade, material and fee, not just the obvious ones.
  • Quality of the quotes. Do trade quotes match the plans and specification? Are inclusions and exclusions clear?
  • Materials supplied by the owner. Are allowances realistic, including delivery and waste?
  • Contingency. Is it sized to the complexity of the build?
  • Programme. Is the schedule realistic for the stages and trades involved?

Common budget gaps in owner-builds

  • Preliminary and general costs such as site facilities, temporary services and insurance
  • Professional fees and consent costs
  • Services connections and external works
  • Finishing trades and fittings that are not yet quoted
  • Finance costs during construction

How to prepare

  1. Get written quotes from every trade, with a clear scope.
  2. Build the budget by trade and by stage.
  3. Record costs as you go so the cost to complete is easy to calculate.
  4. Talk to a QS early. We can help you build or sharpen the budget before you apply for funding.

See our QS Reports for Owner Builds and our Labour-Only Rate Estimates.