Frequently Asked Questions

Once detailed plans and data are submitted, quantity surveyors can provide cost reports and accurate estimations. The calculator is designed to provide you with an estimate based on the data you provide. 

An initial cost report is a comprehensive document that outlines the projected costs of a construction project before it starts. 

An accurate report is instrumental in providing a clear financial picture of the project, allowing potential risks to be identified and addressed at the outset. It forms a crucial part of the planning and budgeting process for any major construction project.

An initial cost report is essential for your construction loan application as it gives the lender a detailed overview of the estimated costs involved in the project. 

Having this information helps them assess the financial viability of the project and the risk associated with the loan. The initial cost report helps them understand whether the project is likely to stay within budget and whether the loan amount requested aligns with the project’s estimated costs.

At Duo QS, we are committed to delivering your initial cost report within 3 to 5 business days. A registered quantity surveyor will work diligently to ensure that you receive a comprehensive and accurate report in a timely manner.

Our cost estimating and planning system can assist the architect in evaluating comparative costs for alternative systems of construction and finishes. We can also advise on the total costs and methods of construction, providing you with a comprehensive understanding of your building project’s financial landscape.

At Duo Tax, we offer a wide range of construction cost estimating services beyond initial cost reports. Here are some of the other reports we can assist you with:

• Council Report, Section 94/7.11: This report is required to estimate the construction cost for the council to calculate the monetary development contribution levy.
• Bill of Quantities: A detailed cost report or bill of quantities is a valuable tool for the construction process, whether you’re undertaking a civil contract or a home renovation.
• Progress Claim Construction Report: A progress claim report tracks how much has been paid to the builder while identifying how much is yet to be released by the bank.
• Insurance Replacement Valuation Report: An Insurance Replacement Valuation is a report that assesses the accurate replacement cost of a building in an event that would cause any loss or damage to the property.
• Elemental Cost Plan: Our elemental cost plans provide a detailed cost analysis that takes into account all construction factors such as preliminary costs, construction costs, overheads, and profit.

Progress claim reports are useful for several parties in a construction project, including:

• Homeowners – Ensure you only pay for work completed and keep payments on schedule. Getting a transparent report prevents any funds being released unfairly.
• Builders – Justify claims to the bank with documented progress assessments from a neutral third party. This smoothes the payment process.
• Banks and Lenders – Verify claims match on-site work before releasing construction loan funds. This mitigates risk and liability for the bank.
• Project Managers – Track overall budget and timeline versus actual costs and progress. The reports act as an unbiased record of project status.

Having an independent quantity surveyor prepare the report provides trusted verification for all stakeholders.

Quantity surveyors, being experts in construction costs, are the most suitably qualified professionals to provide advice on the insurable value of a property.

The factors considered in an insurance valuation include reconstruction times, demolition costs, the replacement construction cost of the building at current market rates, an allowance for cost escalation, and professional fees.

This report should be assessed regularly, as the cost of the building can change over time.

At Duo QS Construction Estimators, we can provide an Insurance Replacement Cost Assessment report that will give you the required amount to cover the replacement and reinstatement costs adequately. 

Our report includes the re-construction time, demolition cost, replacement cost, cost escalation, and any further professional fees.

Our construction cost calculator is based on gross floor area. This is the total floor area that’s fully enclosed across all floor levels. This should be measured based on the external measurement of the building to account for the thickness of the walls.

This includes generally covered areas of floor space, such as:

• Staircases
• Garages
• Attics
• Basements
• Lift shafts

This includes generally uncovered areas of floor space, such as:

• Balconies
• Verandahs
• Porches and patios
• Walkways

While every effort is made to ensure data and information are up to date, the calculators are for indicative purposes only and should not be used for any purpose other than an estimation of the average cost. If you’d like an accurate estimation, get in touch with the Duo Tax team for a free estimate from a quantity surveyor.

Quantity surveyors are qualified to provide cost reports and accurate estimations once detailed plans and data have been submitted. The cost calculator is designed to provide you with an estimate based on the information provided.

Yes, we can. We can work closely with architectural drawings to prepare elemental cost plans as well as detailed cost plans with consideration for budget and value. If you’re a home builder, we can provide effective cost planning to achieve realistic estimates. The other benefit is that our quantity surveyors can constantly monitor your project and will help identify overspending on your budget at an early stage to be able to take prompt action.

Construction Estimations

Once detailed plans and data are submitted, quantity surveyors can provide cost reports and accurate estimations. The calculator is designed to provide you with an estimate based on the data you provide. 

Yes, we can. We can use architectural drawings to create cost plans based on budget and value. If you’re a home builder, we can provide effective cost planning to achieve realistic estimates.

The other benefit is that our quantity surveyors can constantly monitor your project and help identify overspending at an early stage to take prompt action.

Many things affect how much a building costs. These include the design, materials, location, rules, challenges, and size. These elements can significantly impact the overall cost and should be considered in the initial planning stages.

No, the Duo Tax Construction Cost Calculator only estimates building and construction costs. Land prices need to be considered separately and added to the construction cost for a comprehensive budget.

You can save costs when building a house by opting for a simpler design, choosing cost-effective materials, managing the project efficiently, and ensuring thorough planning to avoid unexpected expenses. Hiring skilled workers can prevent expensive errors and keep the project within budget.

The cost to build a house per square meter varies a lot based on location. It depends on things like labour, materials, and fees. Talk to builders or use our cost calculator for Sydney to get accurate numbers.

Labour costs are a significant portion of the total cost of building a house. The factors that can influence them include the build’s location, project complexity, and worker demand. High demand or a shortage of skilled labour in a particular location can increase labour costs.

Material costs can substantially affect the overall expenses of building a house. Choosing materials, such as high-end finishes or rare woods, can increase costs.

Additionally, the availability and transportation of materials, influenced by factors like global market conditions and local supply chains, can also impact the budget. Strategic planning and alternative material selection can help manage these costs effectively.