Owner-Builders and Bank Funding: What a QS Will Review
With no single contract price, lenders look closely at an owner-build budget. Here is what a quantity surveyor checks and how to prepare.
Read articleQS Reports for Owner Builds
Funding an owner-build? We prepare the independent QS report your lender needs, covering your budget, trade quotes, materials and cost to complete.
Owner builds work differently from a fixed-price contract with a builder. There is often no single price for the whole job, so lenders rely on an independent quantity surveyor to confirm that the budget is complete and the cost to finish is realistic.
We help owner-builders pull together the information a lender needs, build a clear budget, and report on costs and progress at each drawdown.
Who this is for
- Owner-builders seeking construction funding
- Homeowners managing their own trades and materials
- Brokers supporting an owner-build application
- Lenders needing independent assurance on owner-build budgets
What is included
Budget build-up
We help structure the budget by trade and stage so that nothing is left out.
Trade quote review
We review quotes for scope, inclusions and consistency with the plans.
Materials and supply allowances
We check allowances for materials supplied directly by the owner.
Contingency and risk
We comment on contingency and highlight areas where costs could blow out.
Cost to complete
At each stage we report what has been spent and what is needed to finish.
Drawdown certification
Independent certification of work completed before each drawdown.
Documents we will ask for
- Plans, specification and consents
- Your budget (we can help build one)
- Trade quotes and supplier quotes
- Programme or stage plan
- Records of costs paid to date
- Lender requirements
Not sure what you have? Send what is available and we will confirm exactly what is needed.
How it works
- Share your plans and budget. Send what you have, even if the budget is still rough.
- We review and advise. We identify gaps and help you firm up the numbers.
- Funding report. We issue the QS report for your lender.
- Stage reporting. We certify drawdowns and update cost to complete as you build.
Related services
- Independent Bank QS Reports: Independent quantity surveyor reports for bank-funded residential projects. We review the budget, contract, costs incurred and cost to complete so your lender can fund with confidence.
- New Build – Full Rate Estimate Cost: A detailed, measured estimate for a new home or development, priced at full market rates for labour, materials, plant and margin.
- Labour-Only Rate Estimate Cost: Estimates of labour-only costs for owner-supplied materials, labour-only contracts and trade package pricing.
This guide is general information only and does not replace advice on your specific project. Costs, building rules and lender or insurer requirements change and every project is different, so please speak to us about your own circumstances before acting.
Frequently asked questions
QS Reports for Owner Builds FAQs
Yes. We can prepare a full cost estimate from your plans, or review and improve a budget you have already started.
Often they do, because there is no fixed contract price. A clear QS report is one way to give a lender confidence in the budget and the cost to complete.
We track variations and update the cost to complete at each drawdown so you can see the effect early.
Ready to talk about QS Reports for Owner Builds?
Contact us today for a fixed-price quote. Independent, accurate and professional.