Sustainability initiatives in construction can be a variety of different things from passive initiatives such as double-glazing, water recycling and solar panels to more experimental methods utilising new technology.
Perhaps you are considering starting your first development and want to know the differences between managing the project yourself, or leaving it in the hands of a qualified project manager. We’ve broken down the differences to demonstrate the difference between the two, and how each will impact your build to assist your decision making.
Having a comprehensive budget is critical to any project, however forecast revenue and actual revenue can be two very different things, which is why a good project manager will put the necessary contracts in place as provisions, including variation clauses.
Depending on the type of develop you wish to do, you may want to use the equity you have currently, or borrow from a lender. If the latter, you must consider that the interest will be higher than a typical home loan.