THE PROBLEM:
Your partway through your build or renovation and already the budget is blowing out. You’re left scrambling to either find more money or not finish the build.
THE SOLUTION:
• Ensure you have a fixed-price build contract.
• Work with your architect and builder from the beginning to manage your design and budget.
• Having a contingency budget factored in from the get-go. Best-case scenario you have cash left over for new furniture at the end!
• Never assume you will be able to ‘save money’ on various aspects during the build.
• Do your research and ensure you are choosing a great team of professionals who you trust.
• Understand the numbers – ask questions and be involved in the process.
THE PROBLEM:
You’ve purchased land and now a problem has been identified.
THE SOLUTION:
• Do your due diligence on the land. Ask your builder to visit the site and identify any concerns before you commit.
• Your builder will also be able to inform you of the type of home that could be built on the site.
• If you have concerns undertake a site specific investigation with a Geotech Engineer. Your builder will be able to recommend a good one.
• Understand any restrictive covenants and what this means.
THE PROBLEM:
Your build runs over time, you’re stuck renting for longer and you can’t move in for Christmas!
THE SOLUTION:
• Work with a professional builder who will prepare an accurate timeline
• Your builder will factor in time for the inevitable weather delays.
• Your builder should keep you up to date with a real-time build schedule.
• Understand that while it can feel like a long time, you don’t want to rush your build and quality is worth waiting for.
THE PROBLEM:
You didn’t understand your specification correctly and now you don’t have an allowance for an Induction Cooktop.
THE SOLUTION:
• Go through your Specification line by line with your builder and understand what is and isn’t included.
• If you would like to make a change mid-build, make sure it is documented.
• Allow time for meetings, site visits and zoom calls.
• Be honest and transparent with your builder and expect the same in return.
THE PROBLEM:
You feel like you’re been taken for a ride, your builder is making too much money, they’re cutting corners and hitting me with massive variations.
THE SOLUTION:
• Do your research, meet with your builders’ previous clients to see how they found the process.
• Ensure you feel comfortable with your builder and engage them early.
• Understand what margin your builder is charging.
• Understand how your builder approaches variations and what costs are involved.
For the build of your new home to go smoothly, there needs to be open communication and honesty between client and builder. At Byrne Homes we understand the huge leap of faith our clients take when choosing us to build their new home. We know there will be bumps along the way, but we believe that with open communication there is always a solution to any problem.
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