Quantity surveyors bring cost certainty to residential projects. Here are the five different reports a QS provides, how their fees work, and which report is right for your situation.
Quantity surveyors bring cost certainty to residential projects. Here are the five different reports a QS provides, how their fees work, and which report is right for your situation.
Pre-construction cost estimate: independent budget check before signing a builder contract. Bill of Quantities: itemised cost breakdown used in tenders. Insurance replacement estimate: for insurance sum insured accuracy. Tax depreciation schedule: for investor properties. Progress claim valuation: for dispute resolution during construction. Each is a different scope and fee.
Qualified quantity surveyors hold either RICS (Royal Institution of Chartered Surveyors) or AIQS (Australian Institute of Quantity Surveyors) accreditation. Both signal formal training and adherence to professional standards. Non-accredited providers can be excellent but the credentialing is a useful quality filter.
For any build over a few hundred thousand dollars, an independent pre-construction estimate from a QS is a small investment against a large commitment. The QS reviews the builder contract, drawings, and specification, and provides an independent view on whether the contract price is realistic. This often surfaces provisional sum concerns before contract signing.
For a new investment property in Adelaide, a QS depreciation schedule provides an itemised list of depreciable assets and their values. This drives significant tax benefits for investors. The QS fee is typically deductible in year one and delivers many multiples of the fee in tax benefits over the property life.
QS fees fall into three patterns: fixed fee (for defined scopes like depreciation schedules), percentage of construction value (for large projects with ongoing scope), or hourly (for advisory scopes). For most residential engagements, fixed fee on defined scope is the norm.
A Bill of Quantities itemises every measurable material and labour input for a build. It is used to standardise builder tenders (every builder prices the same list) and gives the client comparable quotes. BoQ preparation adds cost but often more than pays for itself in tender clarity.
If a builder progress claim seems out of step with actual site progress, a QS can perform an independent valuation. This is protective for the client and provides evidence in any dispute. Not required on every build but valuable when disputes arise.
For an existing home, insurance sum insured should reflect current replacement cost, not original purchase price or market value. A QS insurance replacement estimate ensures the home is properly insured. Fees are modest and every 3-5 years is a reasonable review cycle.
Qualified QSs are typically required to hold PI insurance under their institute rules. Ask for a certificate of currency.
Some builders welcome QS involvement (transparent tender, disciplined progress claims). Others resist it. A builder who resists independent QS scrutiny is often signalling something. Take note.
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