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For those who are fortunate enough to have the funds and are daring enough to build their own home, the ordinary procedure to follow is as follows:
Choose the architect – Give them clear instructions on what you want including the facilities to be provided, the time of delivery and of course the budget.
Choose other consultants – such as civil engineer, quantity surveyor, electrical and mechanical consultants and for bigger projects, a project manager.
For all these and others agree beforehand their fees and the basis of their calculation.
Once the initial draft plans are ready, get your consultants to submit a preliminary cost analysis to you, in order to ascertain the correctness of your budget.
Seek tenders from licensed contractors since projects can only be developed by those contractors who are within the category allowed.
Get the architect/Q.S./consultants to analyze the tenders and do not restrict your decision on the final figure.
You can seek under the chosen contractor your own sub-contractors and suppliers and compare your own prices to that of the contractor (from his own appointed sub-contractors).
If you are not in the local business of building, seek past references for the contractor, especially from your architect/other consultants.
Pay particular attention to the type of contractor that you choose. Some of the local contractors are claim oriented and others are not. You cannot imagine what sort of claims a contractor can come up with especially at the end of the project. Seek financial statements on any variations/extras.
Ask for periodical (monthly) reports by all consultants reporting on progress vs time, budgeted costs vs actual, quality + materials chosen.
It will not go amiss to visit personally the project periodically say once every 2-3 months (if not in Cyprus), depending on the type of project and stage of development.
Keep your enthusiasm low for the various ideas that the architect and your friends come up with. Always ask for added costs estimate.
If you are being financed, keep informing your financier on the progress and money availability. Some people keep quiet because they are afraid that the financier might withdraw the loan, but, better keep your banker informed not leaving it too late.
Remember the 5% VAT as opposed to the 19% VAT charge (if main residences, maximum sqm limit etc).
Make sure that your budget includes the cost of public services, the sewage connection, the cost of labour and materials increases during development (for which you are liable), the gardener, any decorator, the furniture and equipment cost etc.
During these recessionary times, it is best to buy something ready as opposed to building a new project.
Usually, you will find that existing buildings have a lower cost of at least 20% as opposed to building one.
Of course, choosing an existing building might not reflect 100% your taste/ location/quality etc, but, do a bit of research anyway so that you know the alternatives.
Do not forget that once the project is finished the consulting team must agree on the final account with the contractors and suppliers and also to secure the certificate of final approval and from there on to register the building on the plot’s title. Upon completion make absolutely sure that you get detailed plans as built (something which we tend to ignore, but a major issue for future repairs).
There is a Cypriot saying that goes like this. “A Cypriot eats as if it is his last meal and builds his home as if he will live forever”.
So, if you do not share the forever living, build a home/office etc building with the view that you will sell it at some point in time, even if you do not consider this option at the time of construction. For this reason, try to build a project based more on the general appeal of the market, rather than reflecting 100% you own particular taste.
A recent house that we have delivered, as project managers, had a total covered area of 400 sqm., plus 150 sqm of a wine cellar (the latter not of a general appeal but most welcomed by any incoming buyer, if he is not called upon to pay the full cost – in this case the cellar with all the proper mechanical and electrical appliances cost 20% of the house cost (excluding, of course, the wine).
Bear in mind that as the property ages so will you. Make provisions or install a lift even if it is a two-storey house.
Avoid many steps and try to explore the subsidy for energy/electricity installations which might reduce the electricity cost by 20%-50% (bearing in mind the cost of electricity in Cyprus, this is a major asset).
Make provisions for security, an annexe for the housemaid/helper and provide plenty of storage (10% of the house extent is reasonable).
If you are not ready to build a swimming pool, dig the hole and cover it up (backfill) so that if you decide to have a pool at some time in the future, you do not destroy your garden (accessibility of heavy machinery apart).
Little of additional things to consider:
Borehole for the grass/trees with the necessary pipes
Video phone at the gate/house entrance
If office building provide at least 2 lifts and a spacious entrance lobby
Use under-floor heating or wall units (better) and cold air a/c units.
Plenty of parking is needed. For an ordinary house (unless a holiday home) allow for 2 cars at least and if an office building 1 space spot per 50 sqm of gross office space.
Once you complete the project and your health remains intact, count yourself lucky!!
