Probably, the only thing that can be harder than choosing the right architect to do the job of designing your dream home is determining how you would pay him for his services. There are many payment options for architects, and some work for specific situations better than others do.
So, why is it difficult to identify what you should expect to pay an architect before he manages to begin to give you his services? What exactly is the difference between the various types of payment options for architects, such as hourly rates, a fixed fee, and the payment through percentage method? Exactly How does hiring an architect costs, and what particular payment option will work best for your needs?
In answering the question “How much does hiring an architect cost” it is good to note that there is no universal form of payment method for all architectural fees. However, equipping you with the right information on the details regarding the different forms of payment can help you make an informed choice on how you will pay for the services of your architect depending on your specific situation.
Cost of percentage construction. If you decide to go with paying your architectural fees by the means of giving off a percent of the total cost of construction, you would most likely give the architect between eight and fifteen percent of the total construction cost as payment. So for instance, if the total cost of a particular project amounts to about $100,000 to finish, then you would most likely pay approximately $8,000 to $15,000 for architectural fees.
So how much does hiring an architect cost? In this aspect and why the price range is large, it is mainly due to the reputation of the architectural firm or of the architect who will be commissioned for the project. If the architect is young and is still collecting professional experience, his charges will most likely be smaller compared to more established firms. In addition, a younger architect will probably produce better output since he would care about quality more than money. On the other hand, established firms might do a better job because of its extensive experience.
The concept is the one that we are familiar with: you pay the architect per hour that he worked on the project. You will agree on an hourly rate, and the payment will be for how many hours it took to complete the job. If you fear that the architect might slow down the progress of his work on purpose, you can place control measures so that you can protect yourself. You can either establish a not-to-exceed amount in your contract, or a not-to-exceed percentage of the cost of construction.
A fixed fee is basically an exact amount written in the contract as the amount to be paid to the architect. This is usually the preferred method since it helps them identify exactly how much they would need to budget. On the other hand, architects try to veer away from this scheme until they have been given an exact explanation of what the project will be. The fear here is for the architect, since they may agree to be paid a specific amount, but it might not sufficiently justify the effort in finishing the project.