What are the benefits of a feasibility study for a refurbishment project and what is one?
Feasibility studies are used on all major construction projects. Having an idea is great but is it feasible? Can you actually translate your vision into reality? Does your vision match your budget?
Before you start your project and commit a large amount of your money to it, ask yourself these questions
- How clear are you on exactly what you need?
- How clear are you on all the options your site will accommodate?
- How confident are you of all the legal requirements?
- How aware are you of the processes you will need to have in place to get your project completed on time and on budget?
- How confident are you that your budget will achieve your needs?
Benefits of a feasibility study
- If you don’t establish strong foundations and take short cuts it will cause project overrun and incur additional costs
- This is the most important step as it lays down the foundation for a successful project
- Not doing a thorough feasibility study could be the most expensive mistake you make
- The most cost effective time to discover your needs and options is at the beginning
Approximate cost to make changes at different stages
- At Feasibility study £1
- At Concept design £3
- At Outline design £10
- At Tender design £15
- At Construction phase £50
If you discover better options early on you can make changes effortlessly. If you discover better options later on you will suffer exponential extra costs or WORSE run out of money and have to live in a house built to a lesser design then you originally wanted. There is nothing worse then having to change your design midway through the project if you run out of money
Who is the best person to carry out a feasibility study?
Some people ask their builder, but it’s usually best to ask an Architect . Architects are used to working on a diverse range of projects. Similarly they will usually have a better relationship with the local planning department. Therefore If your original idea is not workable they will be able to advise you on suitable alternatives. They will also be up to date on the latest construction materials that you may not of heard about
If you would like us to know more about the benefits of a feasibility study for a refurbishment project please get in touch. We will look at your project and and can give advice on alternative designs that you may prefer. After that we will work to save you substantial time and costs. In addition we have good links with some excellant Architects and will be able to involve them in the process