Wisdom Homes - House and Land Packages

ASJ1981 · Oct 11, 2017 11:22 pm

Hi guys,
We have bought a house and land package at New Park Estate in Marsden Park. Just wondering if anyone out there is building a house and land package and what the timeline was...

- we are exchanging Land contracts next week (10% deposit on value of land)
- the land does not register until late next year in 2018 😔 so we don't need to settle on land until then

My question is, when do we pay the 5% deposit to Wisdom? I asked my WH consultant this and she said the 5% to WH is payable in "the next few months" - is this what you guys are calling the dreaded "admin stage"?

We are using the proceeds of the sale of our house to put towards the deposit and just wondering how long we can expect to pay the 5% deposit. Also, does the Tender come first before the deposit to WH? And the most important question - when do we do colour selections? HAHA

Thanks in advance! Xx

MrsLlamas2016 · Oct 11, 2017 11:33 pm

Haha we bought land and house separately but pretty much the same process I think. (We aren't far from you - in north Kellyville

) 5% is due on contract signing. So yes you have about 3-6 months depending how many changes you make. Tender first, then kitchen appt, tile appt, then contract. Well that's what it used to be in 2015/2016!
After contract signing you'll do colour selection and electricals but you'll find you'll do all of this in your own time anyway and just formalize it all at these appts.

This was my second time building with wisdom so happy to answer any questions you've got - even if you want to PM them through

Building Majestic 40 - wisdom homes

MrsJM · Oct 12, 2017 5:50 am

My advice- leave your colour selections as late as you can. I know you're excited but fashions change and there are at least two seasons of the block before then

you're bound to change your mind about things!

ASJ1981 · Oct 12, 2017 8:55 am

MrsLlamas2016

Haha we bought land and house separately but pretty much the same process I think. (We aren't far from you - in north Kellyville

) 5% is due on contract signing. So yes you have about 3-6 months depending how many changes you make. Tender first, then kitchen appt, tile appt, then contract. Well that's what it used to be in 2015/2016!
After contract signing you'll do colour selection and electricals but you'll find you'll do all of this in your own time anyway and just formalize it all at these appts.

This was my second time building with wisdom so happy to answer any questions you've got - even if you want to PM them through

Building Majestic 40 - wisdom homes

Hi Mrsllamas2016, North Kellyville is close to Marsden Park indeed! One of our friends built a Metricon there and recently moved in!

Thanks for the info, hubby and I are new to this and admittedly a little naive about the whole process. We have friends who have built with different builders and all their processes differ from builder to builder so sometimes it all gets confusing!

It's funny how our WH Consultant warned us about their admin issues! On our initial consultation, she touched on the Tender matters and the problems with admin delays etc.. In our Sales Estimate Quote, she put in "Other", a 6 month Contract Extension ($6k) and Additional 3 months Tender Extension ($3k). So a total of $9k for this. Is this standard or necessary? What benefit does this have for us? Just trying to get my head around all the costs and what it all means etc...

Thank you so much for you replies to my posts, you are so helpful

xx

ASJ1981 · Oct 12, 2017 9:01 am

MrsJM

My advice- leave your colour selections as late as you can. I know you're excited but fashions change and there are at least two seasons of the block before then

you're bound to change your mind about things!

Hi MrsJM, thank you for your reply! Soooo true and funny! I love The Block and i get a lot of ideas/inspiration from that show! #teamjosh&elyse - LOL

And you are right, themes change all the time and knowing me, i will change my mind a hundred times! I think colour selection is way down the track anyway. Just thinking ahead because i like to know what to expect in regards to costs and upgrades etc etc!