G'day all,
long time reader, first time poster....
Just after some friendly homeone advice
We sold our house earlier in the year to purchase a block of land. We have been told that the block should be titled by latest mid next year so we are planning to start building soon after.
We were so excited about building a new home, we started checking out some of the displays, even came close to signing up! But because our title was about 10 months away (back then), the builders were imposing a price holding fee of up to $5k.
We decided to wait until a closer date. Much has happened since then, the global economic meltdown, interest rate reductions, an increase in first home buyer grants and also a decrease in fuel prices. All of this has given builders enough reason to put up their prices, some have increased by up to 8%.
Personally I think these cheeky builders may be shooting themselves in the foot by taking advantage of the current situation (low interest rates+more grants). But from what I have heard, their sales have slowed down a fair bit and we are still yet to enter a recession. Even heard that one reputable volume builder hasn't had a sale in over a month!
Been in the house hunting game again and to my surprise the sales reps claim to be very busy and suggest that we sign up (as usual). However, the current promotions some of the builders have are pretty good and much better than what they were offering some months back. But still confused as to whether we sign up now and pay a minimal holding fee, or wait and see what happens early next year.
Its pretty much a gamble but me thinks we wait...
Thoughts ??