Considering building, renovating, or restoring a home in beautiful Mallorca, Spain? Many prospective homeowners wish to construct their dream home or luxury villa to fit with all their ideal architecture, style, furnishings, and decor. Likewise, many current homeowners may wish to flip their homes and place a more valuable property up for sale.
Since this is the case, individuals may decide between builders offering different types of contacts. The most common build contracts are cost-plus and fixed-price. If constructing or renovating a home in Mallorca is new to you, it is crucial to understand each option and why a fixed-price contract may be the best choice. This way, you can make the right decision, protect your investment, and add value to your home. Find out more below!
A cost-plus contract is when a contractor charges for the materials, labor, and additional fee for their service. Typically, their additional fee is a fixed percentage of the project's total price. Homeowners may only know the final cost once the build is complete, as material costs fluctuate.
A fixed-price contract is when a builder sets the costs from the project's outset, considering all the homeowners' requests right from the beginning. Unless the homeowner desires additional services down the road, the price will stay as-is. It is an excellent option for a homeowner who already has a vision for their new home in Mallorca and prioritizes knowing and setting a price before construction.
Future homeowners may mistakenly believe that a cost-plus contract is the only solution for a custom build or renovation. However, it may only be a good choice if significant flexibility is necessary; in other words, individuals still need to determine exactly what they want to see and appreciate being able to change their mind frequently.
A fixed-price contract is ideal for building or changing a home in Mallorca. Homeowners will be not only aware of the final cost but also be able to avoid any potential cost overruns. It may be even more beneficial if they intend to sell the development; since they secure a price from the get-go, they can anticipate the house's value increase and future profits.
It is best to seek a fixed price through a full-service construction company. If opting for this route, homeowners will not have to seek the services of numerous specialized parties, such as an architect or an interior decorator. Rather, they can take advantage of a highly-qualified crew who can handle every aspect of their new build, renovation, or restoration.
It is important to consider a fixed-price contract even if the chosen company does need to bring an architect on board. They may require their expertise for extensive modifications, renovations, or restorations. In this manner, they ensure they can pull off the designs flawlessly and safely. Yet, the architect still works with the construction company to draw up a brilliant fixed-price contract for the actual materials and work.
Since one company can handle everything, homeowners will enjoy the ease and simplicity of having one contract. Likewise, this single fixed-price contract will consider all needs immediately. Individuals can detail their build or renovation ideas, and experts will discuss designs, aesthetic outcomes, materials, and legality with them.
The architect or the head of the project will determine everything that is necessary to achieve the ideas. Once they establish the materials, costs, and labor, they will provide a detailed breakdown. In this way, homeowners will know exactly what they are paying for and precisely what to expect upon project completion. Whether they intend to live in the home or put the development up for sale, they will undoubtedly be looking at an aesthetically-pleasing, modern, and valuable property.
Your long search for a gorgeous custom home or luxury villa in Spain is about to end. EPIC Constructions is your go-to construction company in Mallorca, building and renovating houses on fixed-price contracts. You can look forward to a successful build and a price within your budget, ready for living or sale. Contact us today to discuss your possibilities or request more information!
At Epic Construcciones we take care of carrying out your project in the work of your dreams, we accompany clients from the conception of the first idea to the last details of its execution without any concern. We offer a personalized service for each type of work and we have the necessary resources to resolve any situation.
We coordinate and advise all types of projects and the phases that are constituted, following a well constituted process so that all the elements that are part of the creation of the work complement each other until we obtain the desired results and be able to deliver to our clients.
Quality certificates implemented
ISO 9001 (Quality management system)
ISO 14001 (Environmental management system)
