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Company Development Estate in michigan real Article Summaries
Joint Ventures In Real Estate Development; So How Do They Work? By: Colm Dillon: There are many reasons why you would consider joining with another person to undertake a development project in Joint... at $400,000. So if your JV Agreement involves you gaining a share of the profit, your share will be $100,000 less. Got ...
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Real Estate Bankruptcy By: Sajjad Ahmad: Although real estate bankruptcy cases no longer dominate the bankruptcy courts' dockets as they did in the early ninet... ground for relief from the automatic stay is lack of adequate protection of the secured creditor's interest in the prop...
Featured Article
"The Architect" Real Estate Development Design Professionals
Colm Dillon
"The Architect" Real Estate Development Design Professionals
Those of you who are new to the real estate development business, need to understand what each Design professional contributes to the development team and the specific services they are capable of delivering for you.
Knowing what they do for you ... what you are paying for is vital.
This is part of a series of articles I am writing for you to explain what each profession does in some detail.
The Architect
If any of us were asked what an architect does, most of us would reply, "designs buildings," and you'd be correct. But if you were then asked, what else do they do, most likly you be struggling to give an answer.
An overview description would be:
Architect is trained to interpret and develop your ideas of the building you want to create and transform them into reality.
Whether you are developing a residential building for your own use, may I make a plea, that you don't compare the 'unique' services an architect provides for you, with that of a Draftsman. The difference is like comparing chalk to cheese.
In some countries, draftsmen have set themselves up in business to provide residential designs at a cut price set fee. Without a shadow of doubt the fee will be lower than an architects fee.
But so is what is provided for the fee. An architect provides you with a "unique" design solution to your personal needs. A draftsman draws the work that others have designed.
And that is just the beginning of the difference between these two.
With a draftsman you get a set of plans and maybe a specification - that's it. Now let's find out what an architect does for you.
A building project can be a complex process for the beginner and demands a constant monitoring of cost, time and quality.
To achieve this, the architect, is usually the co-ordinator of all the design consultants and achieves a successful project completion through good communication between all parties including the client and the builder.
An Architect provides a range of services on the basis of a Fee Scale that is usually established by the Institute of Architects of the country in which they work.
An architect can advise you on the following aspects of building:
. Designing and planning . Selecting a site . Undertaking feasibility studies . Managing the building budget . Selecting and managing the project team . Designing the interior . Landscaping the surrounds . Maintaining the building
An Architect can save you money because:
. They have an in-depth knowledge of the building process and most economical, efficient to achieve what you want.
. They can plan and manage a project from start to finish helping to avoid costly mistakes.
. They have the experience to deliver your project on budget and on time.
Architects are experienced in coordinating project teams including builders, tradespeople, landscape architects, engineers, quantity surveyors and interior designers.
An architect will listen carefully to what you want.
Their designs will consider important things such as site conditions, the sun and views so you get the best design for your budget.
An architect will also prepare technical drawings and specifications for building approvals and for construction of your project.
How do you select an architect:
. Make sure they are a member of your country's Institute of Architects. . Meet and discuss your project. . Discuss the range of services you require and if you don't understand the service, ask for an explanation. . Ask about the likely fees you will have to pay. At this stage you will not get a firm fee as the project parametres have not been determined. . Make sure you feel comfortable and get the responses you want. . Ask to look at examples of projects they have done and talk to former clients.
To get in touch with an architect in your area of operation, contact the Institute of Architects in your country, who can then direct you to the Local Chapter of the Institute.
Here are the links to some of the major Institutes:
Royal Australian Institute of Architects: http://www.architecture.com.au/i-cms?page=3939.html
This Australian site has an excellent downloadable PDF Guide that provides an excellent overview.
American Institute of Architects: http://www.aia.org/
Royal Institute of British Atchitects: http://www.architecture.com/go/Architecture/Home.html
Singapore Institute of Architects: http://www.sia.org.sg/new/
Royal Institute of Architects in Ireland: http://www.riai.ie/
Royal Architectural Institute of Canada; http://www.raic.org/
South African Institute of Architects: http://www.architecture.com/go/Architecture/Reference/Links_1157.html
Hong Kong Institute of Architects: http://www.hkia.net/layout/layout25/layout25.asp?site_id=6000
New Zealand Institute of Atchitects: http://www.nzia.co.nz/site/section.asp?bid=1§ionid=1
If your country's Institute of Architects is not listed just go to : http://www.google.com.au/ and typein the Search Box; "Institute of Architects"
About the Author
Colm Dillon has developed $1.2 Billion worth of Real Estate and has written the definitive "How To" E-book, "Residential Development Made Easy" selling in 63 countries. Go To: http://www.realestatedevelopmentcoach.com for more information
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