Browse Forums Building A New House 1 Dec 03, 2012 12:17 pm Hi guys, Just about to settle on a block ready to build in October next year, I have been looking for the perfect builder but am stumped at the pricing here in the ACT, building prices here range from 270k - 300k for an average 3 bed 2 bathroom (120- 150m2). Quite jealous at prices in some other states really, Anyway - Im thinking I could save some money by getting a builder to go up until lock up, after this I will take over and organise contractors to complete the work?! This way I believe I would have more control over the interior design and who does the work. Am I in for a nightmare? Will I save that much money? (I hope to save around 20k) How will the bank work? Would I be less likely to get approval If i take over from lock up? Re: Building to lockup 2Dec 03, 2012 3:19 pm We were going to go owner builders to try and save but found everything just too hard with the banks so what we've done is to get our builder to contract us for the complete build but they are going to credit out the things that my hubby (carpenter) and I will do. We'll receive a 10k credit for painting, another 8k for plastering labour and then there will be a few other things as well. We'll have to finance all this ourselves though. Maybe this might work for you? I'd go talk to a builder and see what they are willing to do for you. Jem's Custom build - viewtopic.php?f=31&t=58630 Re: Building to lockup 3Dec 03, 2012 5:14 pm Thanks Jem, I don't think it would be considered "owner builder" though if I'm only doing the final stages, I don't plan to do any of the work myself due to time constraints. The only things I would need to do is Bathroom internals Vanity Shower Bath Tiling Kitchen Flooring Drywall Deck Patio Painting Cupboards Re: Building to lockup 6Dec 03, 2012 9:43 pm I'm hoping Bashworth will add his two bobs worth to this. IMHO - OB'ing is never for the light hearted nor to save money. Most OB's never save money, however a fair number do end up with a better fitted home that is built to their specifications. Unless it is one of your bucket list items to build your own home (like me) or can afford the time off work (3-6+ months) or your prepared for the 2+ years while you work during the week and build every weekend, the first and absolute key point to work out is: will I save more by managing trades and doing it myself than I will lose in wages? Some key points: Unless you are one the trades or have family members in trade - you are unlikely to access the same prices that a builder can. In fact, some trades will actually inflate their prices when they hear your OB'ing. Apparently we are indecisive, want extra stuff done for free, reschedule far too often and quibble over the last dollar. Trades can do the wrong thing - can you be there to supervise them? Unlike a builder, you are not offering them years of ongoing work so their care factor can sometimes not be as high. Do you have a job that will allow you to be onsite at random times during the day multiple times a week? If you allow 2 days for a trade, expect it to be 4....if you get them onsite in the first place. Trust me, your schedule will blow out! As to finance. Actually NAB (who we went thru) was actually quite positive about having a builder get it to lockup. From their perspective, the major structural components were completed by a 'specialist' who is offering 7 years warranty on the structure. You still need to show that you have the finances to complete the job; that you have the pricing of each trade from lockup, schedules and timelines documented; and that you either have past building, renovation or project management experience (my wife and I are 20+ year I.T vets with extensive PM experience) to be able to complete the job. Basically you need to be able to show you know what your doing. Can you over come all this? Yes most certainly and it involves research. Lots of it and goggle and this site are your best friends. Research each trade and what it would actually take for you to undertake that component of the build. Know what questions to ask. Sound like you actually know what your asking. Get 3-6 quotes (and persevere as it can be hard to get them to actually quote). By doing this, you can better write your specifications so that the trades know what you want, you can better assess each quote and understand what you are actually getting and, eventually be able to assess whether you got what you requested and whether it was to standards. In my case, it has taken 2 years to get to the point of having plans, specs, engineering, individual trades quotes (everything from excavation, concreting, windows, flooring, cabinet making, plaster, doors, door furnture, taps etc - trust me there is a LOT to a house), builders quotes when I decided the slab and frame were too complex to manage and to be able to assess whether it would have been done right, builders contracts and finance arranged. And only tonight I have learnt that my builder has finally after 7 weeks got builders insurance, after QBE went goosestepping through the accounts of every builder on the east coast that applied for insurance. It would normally have been 3 days. Its hits like this to your schedule that you need to be able to manage, both physically and emotionally....OB'ing can be a tough ride (and I've only just started the actual build phase....jeez...must have rocks in my head ) Good luck. it is doable but just dont expect there to a pot of gold at the end of an OB build. Regards RiH Re: Building to lockup 7Dec 04, 2012 8:55 am Yes I know - Prices in the ACT are ridiculous....but I am also grossly overpaid as with most other Canberra residents. It looks like I'm in for the long haul If I go down that route and to be honest it sounds like more trouble than its worth, I have a friend who is just finishing his tafe course to become a builder...It was my second option to use him as our friendship would allow for him to be a little more flexible on many different aspects of the build - the only downfall is his lack of experience but I would never expect a win win scenario. Thanks for all the input guys. Re: Building to lockup 8Dec 04, 2012 9:31 am Keep shopping around with the builders. I live in a regional area so the cost is also high for us to build. However, for around 315K Im getting a 5 bedroom, 2 bathroom, 283sqm single story house with top-notch inclusions. Not too bad from the research Ive done. Good luck. I’m curious about how you went with this. We are planning a KDRB and considering Plantation Homes as a builder. I’m aware that after the demolition another soil test… 1 6326 i wouldn't be worried, you'll definitely miss something, no matter how many times you review. we've spent close to 5 months ensuring everything got reflected in the… 5 9453 Thanks for your reply. I will just wait and see I guess. Trying to get some more information from our builder. 9 11735 |