- What is the approximate square foot price to build a project?
(The following prices would include design, engineering, building permits and construction costs)
- Quality finished Custom home:
$175.00 to 225.00 per square foot
- Very high end Custom Homes (exculsive features such as pools, elevators etc)
$225.00 to $400.00 per square foot
- Residential renovation/addition:
$200.00 - $300.00 per square foot
- Low rise Condominium (wood framed):
$200.00 and over per square foot
- Low rise Condominium (concrete):
$300.00 and over per square foot
- Warehouses (tilt-up):
$200.00 per square foot plus tenant improvements
- Warehouses (wood framed):
$175.00 per square foot plus tenant improvements
- Retail (tenant improvments):
$75.00 and over per square foot
- What is the duration of a project?
ResidentialProjects under $700,000.00 take 6-8 months
Residential Projects between $1,000,000.00 -2,000,000.00 can take up to one year
Complex custom projects can take up to two years
Renovation projects vary in size but complete between 1-8 months
Commercial projects are generally less complex and are completed sooner
- If I'm building a home approximately 4,000 square feet, how long should I allow from design to permit to completion?
Approximately 12 months.
- Can I use any of my own trades?
Depending on how the contract is structured and if trades are reputable professionals, yes.
- Will there be a site supervisor on site?
There is always a project manager, site supervisor and administrative support provided for each project. Depending on the size and complexity of the project a supervisor may be assigned on a part-time or full time basis.
- Is there a deposit or down payment required?
Yes. Deposits or down payments are generally as follows:
- Design Build: 5% of the construction costs at contract signing
- Fixed price: 10% of the construction costs at signing
- Cost plus: 10% of the construction costs at signing
- Renovations/retail: 15% of the construction costs at signing
- How are payments or draws made?
Payments are made in two different ways:
- On a monthly basis based on the percentage of construction completed
- On construction progress after the completion of each phase such as foundation, framing, mechanical and others.
- How do I legally hold back funds?
We follow the BC Builders Lein Act and therefore accept a 10% holdback on each draw, which is deposited into a mutually held
Lein Holdback account at a given financial institution.
Further holdbacks for deficiencies are calculated near the end of the project.
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