E120. Building estimates vs. final build costs - what you need to know

Cost Estimates vs Final Build Costs – What You Really Need to Know Before You BuildWhy do so many building projects blow their budget? Why does the “estimate” you were given at the start look nothing like the final cost at the end? And how can you protect yourself from nasty surprises when you’re investing hundreds of thousands of dollars into a new build or renovation?In this episode of the Building Design, Prime Time Podcast, Amelia and Frank dive deep into one of the most misunderstood parts of the building process: cost estimates versus final build costs. From vague, half-page quotes to highly detailed, professional pricing, they unpack what separates a reliable estimate from an unrealistic guess.You’ll learn why an estimate without proper documentation is essentially just an opinion, how missing details like selections, engineering, site conditions, and external works can derail your budget, and why “cheap” or overly simple quotes can end up costing you far more in the long run. They also explore the importance of contingencies, the risks of builders pricing to a target instead of reality, and why custom builds require even greater care and accuracy.If you’re planning a new home, renovation, or extension, or even just thinking about it, this episode will give you the insight, confidence, and knowledge to ask better questions, understand what you’re really paying for, and avoid costly mistakes.Because when you’re spending $400k or more budget certainty matters. 🎧About usPrime Design is a building design company locally owned and operated in Tasmania since 2004.  Our goal is to share as much valuable information as possible about the process of building design, extensions, and more. We will talk about a different topic each week. To suggest a topic you would like us to talk about contact us at [email protected] information provided on this podcast is for educational and informational purposes only and is not intended to be a substitute for professional advice, individual circumstances, or remedy. We strongly suggest you consult a qualified professional before taking any action based on the information provided in this podcast. The views, opinions, and information provided in this podcast are those of the hosts  do not necessarily reflect the official policy or position of any other agency, organisation, employer, or company.  All content provided on this podcast is provided “as is” without warranty of any kind. We make no representations as to the accuracy, completeness, currentness, suitability, or validity of any information on this podcast and will not be liable for any errors, omissions, or delays in this information or any losses,  or damages arising from its use. We reserve the right to change content or delete any information provided on this podcast at any time without prior notice.