How to Succeed at Borrowing and Other Money Secrets

A quantity surveyor is often called a construction financial expert. This professional is familiar with the overall cost of construction projects as well as with the value of buildings, either those that are newly constructed or those that are somewhat older. You may not think you would ever need the services of a quantity surveyor, but note when you should be calling them and how they can assist with certain projects you undertake.

For new home builds

Your builder may tell you how much it would cost to build the home of your dreams, but note that a quantity surveyor may be able to save you money by suggesting different building methods and materials for the project. A builder may not automatically offer these, hoping for the highest profit they can get from a new construction. A quantity surveyor may also note expenses the builder or contractor is overlooking, such as price fluctuations for certain raw materials and transport. By using a quantity surveyor, you can ensure that a new home construction project is as affordable as possible and you don't face any unexpected costs after work begins.

For major renovation projects

If you're just tearing out a wall or replacing the flooring of your home, you may be able to work with a contractor and find out your options that stay within your budget. However, if you're taking on a major renovation project, meaning anything that changes the overall footprint of your home or that adds significantly to the square footage, you want to work with a quantity surveyor. He or she can advise you on the budget you need for such larger projects and ensure that you've budgeted enough for unforeseen problems that might crop up, for changes you may want to make once the work is underway, and so on. This will ensure you stay on budget and don't wind up overspending on your renovation, which is all too common when homeowners try to tackle this type of work without a quantity surveyor.

If you own rental property

If you own rental property, you may want to depreciate that property each year in order to save money on your tax bill. A quantity surveyor is the person who can value a building as well as any features of the building that can be depreciated, and give you those exact amounts. You can then take these to your accountant and ensure your taxes are prepared properly so you save the most money every year.