By having someone experienced coordinate and project manage your extension or loft conversion, you have less risk than doing it yourself. Most people think they know what “project management” is until they realize the importance of using industry-standard contracts and adhering to those terms, even for smaller jobs.
Before coming to us, our new clients ran into regulatory and cost problems they did not foresee. We can help plan and help you understand the building work involved; this is what we do as a Chartered Building Consultancy.
Dedicated project managers have years of experience and have seen many variants of what could go wrong. We know how the work needs to be done to avoid this happening. Like it or not, it is not the same level or type of experience that any homeowner or developer would have. An experienced project management surveyor specializes in projects. It is our trade.
Investing in a property is a person’s most significant financial investment, we do not recommend going it alone and risk things going wrong with your biggest asset. Getting it right the first time will protect you in the long term from unnecessary costs arising in the future.
What Does a Project Manager Do?
Firstly, a project manager at Prinsegate Chartered Surveyors will look through the plans to determine whether something is within their work scope. They would then visit the property to check the property’s current condition against the plans of what is to be done. Price and terms will then be agreed upon, and a contract will be signed between the owner of the build and the project management company.
However, the priceless service is in the consultancy work. Sitting down with us and reviewing the project face-to-face enables covering every possible aspect of the project that needs to be covered. New ideas arise from just a single meeting. Often, we find that our clients make their money back on our fees many times over from the saved time and monetary costs derived from our expertise.
Our clients decide based on the property’s current issues and future issues that may need rectifying in the short and long term, which we advise on. Knowing what to expect financially is crucial in determining whether a property is worth purchasing. If the finances are not planned for the property, this could result in a negative purchase; this may be why a good 5% of our new clientele are buyers who did not have a good building survey (if any) done on the house purchased. As a result, the purchaser needs to undertake a project.
Sometimes the project has gone wrong, and our new clients want us to survey their property to assess the damage the builders have done. They are looking to determine what may need to be completed to repair it (as well as potential costs) based on their insurance or solicitors’ instructions.
Unfortunately, the percentage of ‘builds that have gone wrong’ is immense. The building costs in London and Surrey can also be high. So, the risk factors involved are significant.
However, you can minimize risks by having a project manager coordinate the works for you. Here at Prinsegate Chartered Surveyors, we undertake project management to make your experience less risky and more manageable.
Peace of Mind
Like any investment, real estate does carry a certain amount of risk. It is much more favourable than other, less tangible forms of investment, but risky, none the less. As long as we make calculated steps, building our portfolio will turn out to be slow but sure progress. It is a great responsibility to own property that holds many rewards, behind all the hard work and dedication. By adhering to these guidelines, we can be sure to make our first step into the great industry of property investment.
Once a consensus is reached, Prinsegate would then deal with the builders, their contracts, and any other relevant party to the build. You can sit back and watch the project progress and liaise with us as a single contact point; this means less headache. Imagine not having to worry about whether builders will turn up to the job or not, carry out the work to an industry-standard, argue overpay, etc.
Prinsegate would check all the builder’s paperwork, including insurances, before their appointment. It’s essential to ensure the contractor is a reputable one, and their past work has been done to a satisfactory standard. Half the job is in selecting the right contractor.
Contact us today, and one of our friendly team members will be on hand to talk you through how we could help project manage your build and arrange a site visit in the first instance.