Nov 12, 2014 10:12 pm
Hi all , we own a block of land and want to build on there is a couple of years, and was thinking how long you have after signing up with a builder before you have to build.
So if we pick a builder and find a plan we like can we wait say 2 years before the builder starts work on the house? Is it possible?
Re: Lenght of time before building after contract?2
Nov 13, 2014 9:22 am
To be honest, I am not sure if it is worth signing up and waiting 2 years - even if it were possible. Basically all building contracts have price escalation clauses etc which mean if the price of materials etc go up within those 2 years, the builder can charge you those costs - so you'll end up more or less paying the same amount should you have signed up later.
Depends on the builder I guess?? A builder wouldnt give you a fixed price given how much prices can change over 2 years. Plus you could do yourself out of a good deal with other builders who may be offering promotions or great deals over those 2 years. I would personally only sign a contract if I were to build within the next dew months
Dale - Building Newbie
Re: Lenght of time before building after contract?3
Nov 13, 2014 10:15 pm
Thanks, thinking about it you are right, was just trying to work out the best way to go about it. we are not quite sure when we will build and was trying to work out how to get the building started while we are overseas
Re: Lenght of time before building after contract?4
Nov 13, 2014 11:09 pm
Our sales rep was not allowed to sign us up unless we were prepared to commence building in 6 months ie slab down, you had to commence the process straight away. Also builders only hold a price for 6 months (all the ones we spoke to anyway)
Our build thread: https://forum.homeone.com.au/viewtopic.php?f=31&t=70984
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