Browse Forums Building A New House 1 Dec 06, 2009 8:00 pm Hi All, We are looking at building with Fairhaven homes, who so far have seemed all above board but are clearly not one of the major companies. After seeing some posts about people builders going under, I have been wondering if there were any signs before hand? Particularly as we are going for a smaller company, I'm starting to worry...what if something happens!!! Is there anything in particular that might give a warning that a company may be struggling? Or any checks we can make to know they are financially secure before we sign on? Building the Glenaire from Fairhaven in 1C Somerfield Estate Re: Warning signs of a builder going under 2Dec 07, 2009 3:20 pm Many companies run into trouble not because they are unprofitable, but from poor cashflow, including difficulty getting/renewing finance especially when banks have recently been tighter on their lending. Thus a company in possible trouble will be looking to increase their cashflow in as much as possible - so some signs maybe they are asking a larger deposit than other builders, wanting it to be paid earlier than you would expect, over zealous trying to get you to sign a contract. They maybe stalling to start the next stage of building (are they starting too many builds to get deposits do a little to keep you happy), or go through higher turnover of tradies. Have they recently increased prices, reduced inclusions or other cost cutting above what would be reasonable? One of these does not mean danger, but several of them could start raising those red flags I would talk to other customers, especially those still building with them or recently completed, to see if they have noticed anything. Nothing comes up that would make me suspicious from the ABN & ASIC search Re: Warning signs of a builder going under 3Dec 07, 2009 5:26 pm In Qld you can do a check with the BSA. You can find out the history of the builders licence and if there have been any financial problems in the past. http://www.bsa.qld.gov.au/SearchForLice ... agree.aspx Cheers Lou http://take2-customdesigndownslope.blogspot.com 07-10-09 omg they have cut the block 14-05-10 we finally have the keys Re: Warning signs of a builder going under 4Dec 07, 2009 7:10 pm Wow, thanks! Some really good advice Thank you! Hmmm, I haven't seen any of those signs so far but at least I know what I should look for! (Not that there are any guarentees of course, but information helps) Building the Glenaire from Fairhaven in 1C Somerfield Estate Re: Warning signs of a builder going under 5Dec 10, 2009 10:17 pm Hi, We are building with Fairhaven and so far have had nothing but good vibes, they are currently about to build some new display homes at The Avenue estate, guess thats a good sign. Where are you looking at building? Regards, Andrew Building at Sierra Estate. Re: Warning signs of a builder going under 6Dec 13, 2009 8:43 pm Hi Andrew, Yeah, we have had nothing but good vibes too and are really happy with the company, but you know... I think I have been reading too many horror cases on this website! We are going to build in Somerfield which is in Keysborough, but need to do a bit more savings before we start. Where are you building? Will you be starting soon? We seriously considered the Whistler too but we only have 512m to build on so we had to go for a 2 storey to get the size we wanted. Good luck with your build! Building the Glenaire from Fairhaven in 1C Somerfield Estate Re: Warning signs of a builder going under 7Dec 14, 2009 10:55 am I work for a supplier in the building industry. I don't know if we sell to Fairhaven, but there are a lot of big builders having trouble paying their bills too ... don't want to go any further than that, but yeah - it's widespread, not just the little builders. Re: Warning signs of a builder going under 8Dec 14, 2009 9:43 pm KJ_and_AJ Hi Andrew, Yeah, we have had nothing but good vibes too and are really happy with the company, but you know... I think I have been reading too many horror cases on this website! We are going to build in Somerfield which is in Keysborough, but need to do a bit more savings before we start. Where are you building? Will you be starting soon? We seriously considered the Whistler too but we only have 512m to build on so we had to go for a 2 storey to get the size we wanted. Good luck with your build! Hi, We're building at Sierra in Nth Cranboure, we needed a minimum of 600m to fit the house but thats with a 3 car garage, we won't have titles till March next yr so hopefuly not to long after that. Apparenty Paulding homes went under recently, anyone know anything about this? Andrew Building at Sierra Estate. I would never build with Fowler homes. I built with them in 2021 and till date maintenance issues are pending. All their existing trades and businesses don't work with… 14 105544 Hi I am wanting some opinions about the build of a steel shed I am going to get one about 4.5 x 2.5 m steel shed and the height will be about 2.3-2.4m high The one I am… 0 14442 |