I have recently purchased a 15 year old inter terrace and in the process of evaluating ID quotations for a renovation. I am not doing a full A&A but the work being done is still significant including a full hacking / demolition of some walls on the main living floor and a small balcony extension on the first floor. This is my first time doing a renovation / having to deal with an ID, so would appreciate some guidance from the experts on this forum. Sorry for the long list of questions, but hopefully this post will be helpful for others in the future in a similar position to me! What elements of the ID quotes are most “negotiable”? How much discount do people normally achieve from the initial ID quote to the final agreed contract? IDs use third party contractors for hacking, wet works, ceiling works, electrical, plumbing, etc. I have done a comparison between ID quotations on these subcontractor costs and the estimates appear broadly consistent, so it appears they are quoting “market rate” but what % discount have people had in trying to negotiate these subcontractor prices down Carpentry is the single largest component in all my quotes (e.g. kitchen, tv consoles, wardrobes, etc). Given the carpentry costs are itemised, it is easy to slash off suggestions that I can live without (e.g. built in wardrobe in maid’s room). However, for the items I want, how negotiable is the price? For example, if they quote me $5k for a wardrobe, what is the price actually being charged by the Malaysian cabinet maker? Payment terms: What is the typical progress payment schedule to pay your ID? Does 20% upfront, 40% start work, 30% on carpentry confirmation, 10% on completion sound right? Timetable: What protection can I build into the ID contract to ensure the ID sticks to the agreed project timeline? If there are delays, what are reasonable “penalties” or “remedies” that people have been able to get out of their ID to ensure that they are on timetable? Typically what is the normal cost overrun to expect in an ID quotation? For example, what happens if they forget to provision for an essential item of the renovation e.g. ceiling for an extension area What other things should I watch out for in the ID quote before signing up? Thanks in advance for the help!
