Choosing one Main Contractor is the best way to proceed, especially if you're not based in Barbados or are not very familiar with the construction process; it's the most hassle free choice.
The Main Contractor will manage all the sub-contractors and suppliers and you'll have only one reference person to deal with and to be held responsible for how the Works are proceeding.
If, instead, you're familiar with the construction process, you may choose to handle and manage the various sub-contractors by yourself or using your own Project Manager, which is fine if you have the local contacts.
However if you don't have local contacts, it is challenging to bring in staff and get work permits.
Builders can provide a cost per square foot or a full list quote based on the Tender Documentation.
The cost per square foot usually comes with a list of materials and finishes and provisional sums for some items (the kitchen for instance); cost per square foot is often associated with a turnkey service, providing a full construction service including the house, the driveway, the pool, the landscape, etc...
Depending on the time frame for the project, if the contractor is brought in at an early stage, they can offer options in value engineering that can deliver real savings in time and money.
Once the contract price is fixed, the next important aspect to tie down is the construction period.
A typical high end residence can be completed in a 12 month period, but this will depend on a number of factors, not least of which is when the client needs access to their home, the project size and any particular challenges associated with the site.
The terms of payment are also important.
Cash flow is a contractor's life blood so it is up to the client to determine whether the payment will be made on a regular monthly cycle or at certain stages when specific criteria are met.
Either way, these terms need to be agreed on early to avoid any confusion and conflict and to make the whole process run as quickly and smoothly as possible.
It is worth checking with the contractors to find out what procedures they have in place in order to procure the quality of materials and equipment to ensure the correct final build quality.
Does the company have an in-house QA / QC system that ensures compliance?
Which suppliers do they typically use on similar types of projects?
Ask these sorts of questions early and you’ll quickly be able to judge the quality of your Main Contractor.
Another important consideration is whether the project will be duty free or duty paid.
Certain projects are able to get the benefit of being duty free and get the necessary concessions from the Government.
The cost savings brought in by this, should not be overlooked as most finishing materials are manufactured overseas and so attract duties when brought into Barbados.