The cost of hiring a quantity surveyor

If you’re too busy with your latest household construction project to focus on how much money is being spent, why not hire a quantity surveyor to manage the finances and keep costs under control?

A quantity surveyor can keep
your project on budget

Everyone knows that you should have a budget in mind before your latest refurbishment or extension project gets underway; even in the planning stages, a clear idea of how much can be spent should always be at the forefront of your mind. Once the ball gets rolling, however, we know the reality is that it’s often hard to keep track of the sheer amount of numbers and sums that start to pile up and before you know it you could easily stray well over what you can afford.

The best way to go about avoiding such a nasty surprise on your final bill is to hire a quantity surveyor, which will provide you with a professionally trained individual who has expert knowledge in contract management and apt skills in finance, mathematics, communication and dispute resolution. It all boils down, however, to whether the additional cost of hiring a surveyor will still manage to save you money overall; here is a quick guide to getting the most out of what you can afford.

What is a quantity surveyor?

A quantity surveyor works on behalf of the client to solve all the financial problems that arise during your household project, especially those that relate either directly or indirectly to contracts and contractual obligations. They can also be hired to undertake property surveys for both buyers and sellers, but this job is better suited to a qualified homebuyer or building surveyor. A quantity surveyor will also:

• Use builders or architects initial drawings and sketches to measure the amount of materials required and offer cash-flow forecasts and draw up a preliminary bill of quantities.
• Minimise the cost of the project by recommending suitable areas for budget cuts and enhancing your value for money by looking for cheaper alternatives that won’t diminish the quality of the construction.
• Manage tender processing and use product documentation to clarify and evaluate tenders.
• Provide professional expertise in drafting initial contracts and intercepting and reviewing other official documentation that may affect construction progress.
• Manage contract negotiations through dispute resolution and cost estimations between client, architect and engineer (if all applicable) and on a monthly basis if necessary, revise costs and subsequent contract changes as plans develop.
• Report to the project manager or director to offer risk assessment advice and allocate work to sub-contractors on the manager’s behalf.
• Analyse any changes in development and write up regular progress reports for possible later legal needs.

Hiring a quantity surveyor

Above all things, a good quantity surveyor will work by living up to the profession’s reputation by offering sound and accurate advice and being of a fair and impartial disposition. Quantity surveyors will make sure the project progresses at a desirable rate and prevent any financial difficulties from getting in the way of work being completed efficiently. To make sure your quantity surveyor works to such standards, check they are affiliated with the Royal Institution of Chartered Surveyors (RCIS) or the Chartered Institute of Buildings (CIOB) – members of such groups will usually be fully qualified to degree level and maintain their aptitude for dealing with contracts and finances right through the course of your project.

Cost of hiring a quantity surveyor

The cost will depend on a variety of factors. The quantity surveyor’s job is to keep your project under budget and if they do so effectively you should definitely be able to save money in the long run. For smaller projects, some companies charge as little as £1000 + VAT, or values the surveyors work at anywhere between 5-10% of the overall construction budget. For example, if a project initially costs you around £80,000, this can be reduced to £60,000 and if a surveyor then requires a £4,000 payment, you still save a total of £16,000 – which is certainly more than the odd penny here and there. A larger construction project, however, will usually require a lump sum payment rather than a percentage of costs and some of this might be asked for up front. A surveyor reviewing the finances of a 150m² extension, for example, might ask for anything up to £6,000 – so make sure you have a deposit ready. To get the best value for money compare quotes and check the history reliability of companies with friends and relatives – that way you’re sure to come across a deal that will provide you with a surveyor who will cost a little, but save you even more.