Anyone building with Homebuyers Centre in VICTORIA?

I don't think its huge risk paying for a stage before its complete, especially at fixing when its close to completion. They are a big reputable company so the risk is minimal.

Hey Guys, I am building the Phoenix 15, does anyone have any pictures of theres?
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This is an awful way to conduct business, and looks very bad for them.

I won't be standing for this sort of bulls*it.

The wording on our contract is 'substantially' completed

our build viewtopic.php?t=87100

Hi everyone. I'm building the Jasper17. Building is still in progress but I have started to look at security doors for the front door and slinding door. I will also be looking at a side gate. Just wanted to ask here what people had paid for there's. I have so far gotten one rough/approx quote which I found very expensive. Feel free to PM me.

Hey all,
I am also building with HBC and I have selected fixed cost H+L package in Allura estate in Truganina with Jasper 17. The land is about to title next month hopefully since the work is done and it's just waiting for titling office.
I have done my colour selection about two months ago and paid about $2k in upgrade because I put a fair bit of upgrade into PWC.

I am using Resolve finance and planned to use their in-house bank for construction finance. Got my valuation back today and I was told the value is way too low.. so the broker will have to start looking for other banks. Does anyone has similar experience building in the area? My understanding from the broker is that the building cost in the contract is way too expensive.

Cheers

By how much?. I have actually noticed that H & L packages have increased in price from the time i started my process.

Was your land valued at the price you purchased it?

My house price came back as 12k under according to the bank valuation so I had to remove the alfresco.

On a separate issue, HBC have put a fence up for me which they were not supposed to. Their price for the fence is over $20 over what most fencers charge. How do I deal with this, do I let them invoice me first before bringing it up or do I bring it up on Monday. I'm currently waiting for my final invoice I think the fence is the delay as they are yet to finish it.

Hi Anna and Atherbogan,
The value differed by almost $50k. The land price is on point though. The reason given to me is that there are no comparable sales to compare the price to and so the valuer thinks that the building price is too high

I am a first home buyer and I am not too sure on what my options are. The broker will try to get valuation from other banks as soon as possible.
atherbogan, If you take out alfresco, wouldn't that also lower the valuation again?

On a side note, I noticed that a HBC H+L package on a lot beside my lot that was supposedly booked when I was in the office has been up on the realestate site sold by Stocklands with land only portion. interesting

Cheers

They say be prepared for an emotional rollercoaster ride when building. However, I never imagined how I feel right now.

Purchased a block of land March 2017 with a title of November. Nothing is still happening on the development at all. I called the council and was told that the developer hasn't submitted all permits he's only submitted the building permit... this expires next March. The council also said they have had problems with the developer and cannot see any construction occurring within the next 6 months. My contract ends next November... my block is already 70K more expensive than when I purchased. A few developers around the area have dragged out titles so they can cancel contracts and re sell at the higher price.

Has this happened to anyone else? Surrounding areas are nearly out of our budget. I'm a loss on what to do.

But how can they cancel a land contract?. The house and land are two different contracts. So when titled it's yours once your loan is approved

The contract states that the developer can cancel the contract 30 months after we signed and that we cannot request compensation or argue it. Meaning they can cancel and if we want that lot still we need to sign a new contract with new price

Is there a sunset clause in your contract?

Maybe start having a Plan B.

It's not called a sunset clause in the contract it's a "special condition" but all the same really, which I wasn't made aware of by my conveyancer didn't say anything until I pointed out the section in the contract.

But yes I totally agree we need a plan B.

Maybe look at some land that has already been titled or that at least is close to being titled as an alternative.

Edited: Can you get out of the land contract early too or are you stuck until the developer either issues titles or executes special condition clause?

removing the alfresco didnt seem to reduce the value much, apparently my bank Westpac considered it an add on that doesnt do much to a house price. Do you have upgrades that you can remove and do post handover. having said that i removed the alfresco and raised the ceilings to 2590 and that seemed to do the trick.

Out of interest what have you included in your PWC?

thats a tough situation you're in, look for a lawyer maybe they can find a loophole at this earlier stage. unfortunately us consumers are not very protected from these developers. Have you called the consumer affairs in vic, they may be able to assist or give you some pointers

Hey ngrundy and atherbogan,

I did spend a bit on upgrades. I increased ceiling to 2700mm, added double glazed windows, upgraded the kitchen.
Those are stuffs that I think will cost a lot more to do post handover.
The others about $4k are cosmetics like powerpoints, lights and stuffs.
I don't hve any alfresco at this stage.

I hope other banks can give me a better valuation.

Cheers

I don't remember that being in my contract. And if it was I'm sure my conveyancer would have pointed it out. Thats terrible. I can't believe they get away with that