Real estate is a thriving industry that has employed many people today: constructors, engineers, architects, and selling agents, just to mention a few. Everyone appreciates their work, especially when they make iconic skyscrapers, bridges, or any other construction project.
Most of the construction projects are residential houses and commercial properties that are mushrooming all over these days. And architects do the crucial work of planning and drawing the structure design. But do people know what the cost of an architect is? Not many people have thought about it. Fortunately, we have got you covered.
Cost of an Architect for New Project
When undertaking a new project, the total cost will determine how much the architect will take home. This is an international way of calculating the cost of an architect, although other methods are used. The higher the cost, the higher the amount they will take home. The percentage of the total cost is negotiable and different firms charge differently. However, the common average is anywhere between 5 and 15%.
In a few cases, the architect might charge a lump sum as their fee. This is typically used by architects with little experience and it is not always the best.
Cost of an Architect for House Extensions
Surprisingly, the cost of an architect is more for house extensions due to the complexity of the project. Therefore, the percentage is higher and can go up to 20%. However, this all depends on the architect and how much they are willing to negotiate. If the project looks simple and straightforward, they might consider using the usual percentage as in the case of a new project.
Cost of an Architect for Conversions
These are the hardest projections for many architects: converting a building from one state to another. They take the time to design the new look while maintaining the old structure. Therefore, the percentage charge might go higher as well. Just like in the case of extensions, the cost might go up to 20%. The good thing is that professional and experienced architects ensure that safety and aesthetics are top-notch to give value for money.
Other Costs of an Architect
Apart from these costs of planning and drawing, there might be other costs involved such as approvals of the structures, lease arrangement, inspection, and survey fee, among others. Some architects might include some of these services in the total cost while others might charge it as an extra. So, be sure to check the package offered by your architect to know whether how much you will pay in the end.
Reputable architects make it simple for their potential clients by including an app or popup on the website to calculate the amount that their clients will have to pay. This aids in easy decision making.
If you are planning to start a construction project, you now know the cost of an architect or have an idea of how to get one. In many cases, it is a straightforward figure unless the architect wants to complicate it.