Question 1

How do you price for my project?

Accepted Answer

We understand that each home is unique and requires a personalised approach to pricing. Our pricing process involves several key steps to ensure transparency and accuracy:

1. Initial Consultation: We start with a thorough discussion to understand your vision, needs, and preferences. This helps us tailor our services to match your specific requirements.

2. Site Assessment: Our team conducts a detailed site assessment to evaluate any potential challenges, site conditions, and specific considerations that may affect the project.

3. Design and Specifications: Based on your input, and ideally after reviewing your buildings drawings, we develop a comprehensive project plan along with detailed specifications. This includes materials, finishes, and any custom features you desire.

4. Detailed Estimate: Using our extensive experience, we prepare a detailed and itemised estimate. This includes labour costs, material costs, and any other expenses related to your project. We ensure our pricing is competitive and reflective of the quality and care we put into every home. We use a 'Cost Plus' contract - you can read more about this below.

5. Transparent Communication: Throughout the pricing process, we maintain clear and open communication. We explain each element of the estimate and make adjustments if necessary to ensure it aligns with your budget and expectations.

Our mission is to bring your dream home to life with precision and care. We believe in providing fair and transparent pricing to build strong client relationships.

Question 2

What is a Cost-Plus contract?

Accepted Answer

A Cost-Plus contract is an agreement where the contractor (in this case THS Homes) is reimbursed for all construction-related costs plus an agreed-upon fee or percentage for profit. This contract is often used for projects with uncertain scopes or for high-quality work. We use the ‘JCT Prime Cost Contract’, commonly referred to as a ‘Cost-Plus’ contract.

Question 3

What are the benefits of a Cost-Plus contract?

Accepted Answer

It brings several benefits for you:

Transparency: You get detailed documentation of all costs incurred which ensures clear visibility into project expenses. We itemise every single cost in your monthly invoice. The amount invoiced each month will change depending on the work completed and materials used during that period.

Quality Assurance: Ensures higher quality work, as we are paid for actual costs and there is no incentive to cut corners (which is often the case with a fixed price contract).

Flexibility: Adapt to changes during the project without renegotiating the contract. We use the detailed cost estimate spreadsheet already prepared and enter the total as the ‘target figure’ in the contract, then throughout the build constantly ‘value engineer’ the project to best meet budgets, in a total transparent ‘open book’ format. You receive a running total of costs to date and remaining amounts due and monthly reporting, so you know whether you’re running to budget or not, giving you the opportunity to tailor the budget going forward.

Strong Collaboration: Promotes open communication and collaboration throughout the project, which we know is the secret to outstanding work and happy clients.

Question 4

How much will my project cost?

Accepted Answer

We understand that budgeting is a crucial aspect of planning your dream home. The cost of your project can vary based on several factors, including the size of the home, the materials used, the complexity of the design, and any custom features you desire.

As a rough guide, conversions, renovations and new builds typically cost between £200-£350/sq or a for 'turnkey finish'. Our projects typically range between £150,000 and £1.5 million, though we occasionally work on jobs smaller or larger than this.

To provide you with an accurate estimate, we recommend scheduling a consultation with our team. During this meeting, we will discuss your specific needs, vision, and any unique preferences you have. This personalised approach allows us to tailor a plan that aligns with your budget while maintaining the highest standards of quality and craftsmanship.

Our goal is to offer transparency and ensure you are fully informed throughout the process. Please contact us to arrange your consultation and take the first step toward bringing your dream home to life.

Question 5

What are your payment terms?

Accepted Answer

We usually invoice monthly for expenses incurred - labour and costs. The amount invoiced each month will change depending on the work completed and materials used during that period. You also receive a running total of costs to date and remaning amounts due. We appreciate prompt payment.

Question 6

What if the costs overrun?

Accepted Answer

We try to ensure this doesn't happen, but occassionally it's unavoidable. Sometimes a client asks for extra things, sometimes unexpected issues come up that need to be worked around. For us, the key is that you are kept informed every step of the way. This allows you to make informed decisions. We also do everything in our power to keep costs down by making recommendations for how a project can be done in the smartest possible way - we call this 'value engineering'.