Embarking on a building or renovation project can be an extensive and complicated process for some, especially if you’re planning on doing it alone. That being said, it’s crucial to have professionals to guide you through the process, which would otherwise be a daunting task.
Here are nine experts you need to consult (in order) when building or renovating, and why:
1. Financial Advisor
It’s important to get a clear view of what your goals and strategies are for your property portfolio or business venture. This is where a qualified financial advisor can come into the picture to provide the right advice and perspective on your project venture. They will help you develop a personalised strategy based on your financial circumstances so your project will stay within your means.
You can look for a financial adviser through their professional associations:
Financial Planning Association
Association of Financial Advisers
Or you can try:
- your super fund
- your lender or financial institution
- recommendations from friends and associates
2. Accountant
Accountants will provide you with all services related to financial strategy, taxation, auditing, cost management, and more, so it’s important to have an expert on hand when it comes to operating income and expenses for building and renovations. Renovating for profit, a property flip, real estate portfolio growth or property developments require different financial structures and will be advised by your accountant. It’s important to make sure your accountant specialises in construction projects, however, as legislation differs from state by state.
Make sure the accountant is a member of a professional body:
Chartered Accountants Australia and New Zealand (CA)
Institute of Public Accountants (IPA)
Certified Practising Accountants Australia (CPA Australia)
3. Real Estate Agent
Any renovations or builds done to a property will only increase its value, meaning you could potentially sell the property at a profit to what you initially purchased it for. But many things come into play here, such as how much you spend on renovations and how the property market is performing, so it’s worth contacting a real estate agent who can give you an expert insight into the value of your property.
Find agents working in your area and put together a shortlist. Look at things like how many listings they have, their previous sales, and how they market both properties and their agency.
4. Mortgage/Loan Broker
A mortgage or loan broker will help guide you through which lender is best for you when it comes to financing your building or renovation project. This is vital because it can potentially save you a lot of money in interest payments and charges. Be aware of ‘honeymoon’ deals and ensure the loan you take on has a long term projected benefit.
To find yourself an appropriately qualified Mortgage Broker visit the Mortgage and Finance Association of Australia (MFAA).
5. Project Manager
Getting a project manager who will specialise in the overall planning, management, and execution of your project is crucial. This involves many things, including consulting with architects, private certifiers, council, engineers, and other professionals, as well as managing costings & progress of the project.
Getting an experienced project manager is one of the most important things to consider when building or renovating, and at GAXA, we like to make sure that you are connected with the right industry-based specialists on construction, making the entire process a breeze for you.
To learn more about our service at GAXA Group view here.
6. Contracts/Construction Lawyer
Building and renovation can be a costly process, and therefore requires detailed documentation and contracts—which is where a solicitor who specialises in property is so important. Contracts can be complicated and time-consuming, so having an expert on hand will ensure you aren’t faced with any hidden issues like illegal building works, strata issues, or any unpaid requirements like rates and land tax.
Your Project Manager can assist ensure the specifics of the project are covered, providing contract Annexure documents, which will safeguide the client This is why it’s crucial to have a lawyer look over any contracts first to advise on any hidden conditions, you whether or not it is suitable to proceed with the project.
To find yourself an appropriately qualified Construction Lawyer visit the The Society of Construction Law Australia or contact your Project Manager for their preferred affiliate consultant.
7. Town Planner
A town planner will work on your behalf to advise and assess your development proposition, which will help you develop the best strategy to ensure you get approval from local councils or under Private Certification. It’s important to get an expert’s input here to work in accordance with the council’s rules and regulations on developments, making the process smoother for you, and easing the burden of hidden costs and a long approval process.
You should aim to receive this information prior to the commencement of design to limit the number of amendments to your documentation.
To find yourself an appropriate Town Planner, contact your local council for a recommendation.
Or you can try:
- your architect
- your project manager
8. Designer/Architect
Prior to any construction or renovations, you’d need an architect or designer to help you with the design—after all, it’s hard to construct anything without a guide. An expert’s knowledge of not only the exterior design, but how to make good use of the existing space is important. A great designer or architect will take into account things such as lighting directions all the way through to placement of hooks on a wall This is vital to provide you with the overall blueprint of your project—and as mentioned above, it may be worthwhile doing this in-house through your project manager to get professionals that are experienced in the industry and can foresee efficiencies for the project execution.
To find yourself an appropriately qualified Designer or Architect and to learn more about our service at STUDIO GAXA view here.
9. Builder/Engineer/Trades and Consultant
Last, but definitely not least, the completion of any quality construction project requires the expertise of several types of industry professionals—the combined efforts of your builders, who will manage the construction process, and trades , who will ensure all the technical aspects of your project works, will help you achieve your end goal.
To find yourself an experienced builder read this article and consult with your Project Management Consultant, and to stay up-to-date make sure you join our Behind The Build Newsletter via our homepage.
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Katherine Kouli – Design & Project Manager at GAXA Group
P: 0406 735 467
Disclaimer: When considering a build project, it’s always prudent to seek the advice of an appropriately qualified professional to determine which strategy is most appropriate for your individual circumstance.
