Browse Forums Building A New House 1 Apr 11, 2022 6:05 pm Do you think it is more risky to commence a KDRB at the moment ? - there appears to be a shortage of labor which could cause delays, not to mention the shortage of materials and the additional costs for those materials ? Anybody had a change of mind about commencing in the near future ? What will you now do ? Thanks ZZ Re: Building a new House in “uncertain times” 2Apr 12, 2022 10:30 am I'd wait for things to settle down. I'd also be very careful about building with smaller builders and builders with weak balance sheets as inflation is out of control everywhere. A lot of builders needs money from future jobs to pay for existing jobs that's already in progress (cash flow management etc). When inflation is too much, these builders go under due to cash flow constrains (just like pro build) and you definitely don't need to be holding the bag. Re: Building a new House in “uncertain times” 4Apr 12, 2022 3:25 pm narcan Could be years before it 'settles down' though. there is a generation of young buyers who decided to wait till "things settle down", then the market moved another 25% in each capital city in less than a year (on top of the 40% from prior years). WHile there is already evidence of cooling of prices, some things have been defying the contraction - structural lumber futures are back to normal from the covid spike, but the actual retail and wholesale costs don't seem to have moved in lockstep. So kind of weird. Lots of profiteering going on and lots of trying to claw back losses to stay afloat too. Caution is definitely advised. And keep your eyes peeled for red flags (like unconditional contracts). Dark matter scientist, can breathe underwater, mind reader and can freeze matter just by willing it. Trust me, its in my sig. Re: Building a new House in “uncertain times” 5Apr 13, 2022 9:07 am I think prices will differ +- 10% as the major material cost such as Timber Futures are back to normal. There is certainly decline in Demand Vs. the builders, those want to continuity in their business. I can note that we received a few desperate calls to get the business who denied or over-varied costed our project during last year. We have to be careful with such engagements for building our dream house. Especially when you've roof over on you to live in KDRB situation. I would suggest to search for a business who is not just there for your money but would like to create something special as per your requirement. In summary, you need not wait if you find..... Re: Building a new House in “uncertain times” 6Apr 14, 2022 8:38 pm We are on the verge of signing a contract to build and have a knockdown and rental property lined up. The pre-construction phase has taken us nearly a year and the thought of building delays/increased costs is resulting sleepless nights for us. We've calculated the costs of doing a small reno and flipping the house versus going ahead with the build and the final equity (including paying stamp duty if we bought a new similar valued house) would be similar, which begs the question why should we put ourselves through this stress? Re: Building a new House in “uncertain times” 7May 31, 2022 2:17 pm TrickyRickyDoo We are on the verge of signing a contract to build and have a knockdown and rental property lined up. The pre-construction phase has taken us nearly a year and the thought of building delays/increased costs is resulting sleepless nights for us. We've calculated the costs of doing a small reno and flipping the house versus going ahead with the build and the final equity (including paying stamp duty if we bought a new similar valued house) would be similar, which begs the question why should we put ourselves through this stress? Hi TrickyRickyDoo, saw some of your other posts on other topics and chanced upon this one, we are just starting out and meeting with the builder for the tender meeting soon (so very early stages), if you could rewind the time back and do things differently, what would you change? Are there any red flags we should look out for that hindsight has made clear to you? Happy for suggestions/notes from anyone else! Must admit, am a tad nervous, this site has been a wealth of knowledge but am still uncertain of proceeding. We have been living in our home for 10 years, but the place is too small for us, plus is really starting to fall apart, so leaning towards a knockdown rebuild with montgomery as we are on a sloping block, their designs seem well suited to our block. Hi Minho I have heaps of experience in Ku-ring-gai with both DAs and CDC ( this is the main area we build in). DA's are taking 12-18months and CDC's we have been doing… 1 3205 Yes well there solution is to blame everyone else while I a 65yr old woman with major medical problems have to just continue to boil water and wash myself in a bucket… 2 16052 If you make sure all taps inside and out are turned off, what does the water meter show if you leave it for a while. 2 20290 |