Property development projects in Australia differ largely in size, nature and scope. While some of them may be small projects involving few million dollars (for example, a residential complex or an individual house), others may be whopping multi-billion-dollar ones involving multiple stakeholders. No matter what kind of a property development project it is, architects have a significant role to play in all of them.
No property development project can be executed without the knowledge and expertise of architects. It’s the architects who visualise every element of these structures, coordinate various processes and hand over the final output to clients. So, it’s crucial for anyone involved in property development to hire a highly experienced and qualified architect to create something valuable and meaningful.
But just like any other skilled profession, the profession of architects is subject to certain risks. There are many instances in Australia and rest of the world where clients and architects get embroiled in legal disputes. Most of the disputes arise because architects commit a mistake, an omission or a breach of professional duty, something that causes financial loss or personal injury to clients.
When a legal action is initiated by a client against architects, it can prove extremely expensive for them, not only monetarily but also in terms of their reputation. Fighting lawsuits in Australia can be taxing because architects might have to draw into their personal finances and assets to pay the legal fees and compensation costs. To protect themselves against such instances, it’s important to have a professional indemnity insurance.
You may be wondering “do architects need a professional indemnity insurance?”. Yes, they certainly need one as a resort when they are entangled in a legal turmoil with a client. You can visit BizCover to get more details about this type of insurance.
Talking about hiring an architect to work on your property development project, here are some reasons why you need one:
- Architects have a clear understanding of the construction process
Architects may consume a small chunk of the overall construction cost but they are in charge of a range of activities on the construction site. These professionals have an in-depth understanding of the property development project, which they gain during their education and service life. By handling various projects and dealing with a host of clients, they become extremely experienced as advisors. From site analysis to cost estimation to design development, they showcase their logical and creative thinking skills to execute a property development project.
- Architects have great supervisory skills
No property development project can be completed if the architect is absent from the construction site. It’s the architect who monitors the entire construction process, thereby acting as representatives of property owners. They collaborate with contractors and civil engineers to take care of everything that’s going on at the construction site. Believe it or not, the process is extremely hectic. But owing to their dedication and enthusiasm, architects are capable of monitoring each and every aspect of the process.
- Architects have great foresight
The process of developing a property involves a range of unforeseen contingencies. There may be times when there’s a shortage of labour or material, something that can lead to delays in project execution. But thanks to their ability to come up with quick solutions that such challenges can be navigated smartly. Architects come up with a detailed cost estimate much before starting any construction activity. They have good knowledge of labour wages and material costs and that’s enough for clients to get a fair budget estimate. It’s the ability of these professionals to think far into the future and come up with contingency plans that their services are crucial in any property development project.
- Architects are well-acquainted to various cities
For any property development project to create value for the end users, it’s important that the site of it is properly selected. That’s something only architects can do. These professionals are trained to know the ins and outs of various cities, and market conditions prevailing there. They know whether or not a particular property will be able to reap benefits in a site. It’s their knowledge of various cities that determines the long-term success of the construction project. Urbanism and potential of a location are something architects understand very well.
- Architects can enhance the market value of a property
Last but not the least, it’s the overall design of a property that makes it valuable in the market. Architects use their creative thinking skills to come up with unique and sustainable property designs. Property buyers will be ready to pay a premium price for a property that has a distinct appeal. So, clients can reckon upon the ability of architects to come up with special concepts, which can ultimately fetch them a good price. These professionals can align profit-making with a wider social-change strategy and enhance the value of the property in the market.
 Arch Daily, Architects As Developers: The Pros & Cons, Avl at: https://www.archdaily.com/797976/architects-as-developers-the-pros-and-cons
 Property Update, Published on October 8, 2015, Your Property Development Team – The Architect, Avl at: https://propertyupdate.com.au/property-development-team-architect/
 Trillium Architects, The 3 Phases of Working with an Architect: Design, Documents, and Administration, Avl at: https://www.trilliumarchitects.com/the-process-the-3-phases