|Construction Cost Overruns||<– Date –> <– Thread –>|
|From: David Entin (davidentincomcast.net)|
|Date: Sun, 14 Feb 2010 13:31:02 -0800 (PST)|
We had not real problems with cost overruns. We used an architect and builder and project manager we employed, all of whom had previous experience with cohousing development in our area. We worked for at least a year with an architect to design three basic home designs (based on size) and then developed various standard options, such as deck, screened porch, extra volume addition, basement or attic finished, etc. In addition, individual homes could also add various customizations. The builder gave us cost quotations for each design and then for each available option and for any customizations that were desired, so you could put your package together to get what you wanted at the price you felt you could afford. Once each household choose what they wanted, you signed a purchase and sale agreement for your unit and the builder built it for that cost -- after all, that is a contract that both sides must meet. There were therefore no cost overruns. Some material prices did go up during construction, but the builder had to absorb these costs because he had already quoted you his price and signed a contract to deliver at the quoted price. All our units were built to cost and pretty much on schedule. We were pleased that there were no major problems. Even a year or two later, when there was some minor flooding of a couple of basements and one roadway, the builder warranted his work and came back to make necessary corrections. We did have to pay extra for the water on the roadway corrections. Obviously, using an experienced and high quality builder and architect and hiring an experienced project manager who works for the cohousing community made a difference. David Entin, Rocky Hill Cohousing, Northampton, MA.
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