Browse Forums Building A New House 1 Mar 13, 2017 11:13 am Hi All, Just came to know that Metricon is planning a price increase effective 22nd march 2017 and ending current promotion. Is this true. I am planning to build but land won't be settled until June 2017. Please advise what should be my next step.... we are in first stage right now....deciding about the floorplan,builder etc etc. thanks Re: Metricon Price increase 2Mar 13, 2017 11:30 am They will usually let you lock in the current price for a few months, there is sometimes a fee for this. If you ask them they will be able to tell you. Re: Metricon Price increase 3Mar 13, 2017 11:42 am Think this is pretty standard with all builders. I had some lengthy talks with metricon a year and half or so ago and they definitely had the option of locking in the base price for 12 months from date of initial deposit back then. After that they reserve the right to increase the price every 6 months or so? We ended up going with Burbank and also locked in the price. We ended up going over the 12 month period (land took a long time to settle) but they still held the original price and didn't have any price increases. Customised Burbank Indigo/Hawthorn in Officer VIC https://forum.homeone.com.au/viewtopic.p ... 2#p1680752 Re: Metricon Price increase 4Mar 13, 2017 12:33 pm santosh22us Hi All, Just came to know that Metricon is planning a price increase effective 22nd march 2017 and ending current promotion. Is this true. I am planning to build but land won't be settled until June 2017. Please advise what should be my next step.... we are in first stage right now....deciding about the floorplan,builder etc etc. thanks Yes, our design went upby 25k (our build just started and we popped in our consultant's office recently and she showed us the price change) Talk to your consultant and negotiate hard to lock in current prices without penalties. Also, there is always some promo on, if not thos, you'll probably get someth similar in next promo Re: Metricon Price increase 6Mar 13, 2017 2:39 pm I heard that the prices may go up. However, with all the first home buyers incentives coming into play in July 2017, im not sure how much of it is sales talk to get you to commit. They taking deposits but not going to contract until after July 2017 so first home buyers can take advantage of the double money especially in regional Victoria. I'm also wondering if the builders might have some competitve offerings after this date too with all the first home buyers that might come into the market as well. Hard to know. Other thing I'm weary of is locking in when land isn't titled. So much building happening at the moment. I hate to get hit with penalties. Re: Metricon Price increase 7Mar 13, 2017 6:44 pm Agree icat2000, locking in the price is always a gamble. Unless you have an iron-clad guarantee of the land titling, I would be careful. Only write that as our land was due to title within a couple of months of buying the block, only for many issues to arise with the developer. We hesistated locking in the contract with Metricon, even though we were assured that the prices would go up significantly if we didn't. Well, our land took two years to title! Reading the fine print on the M contract of sale, we erred on the side of caution, even though 3 months would be the locked in price. We estimated we'd be up for tens of thousands if we had of locked in, which compensated for any increase in prices. When we locked in two years later there were good sales on at the time, meaning a saving anyway- big companies always have sales on. Guy over the road from us- locked in with M as soon as he purchased the land- waited over 1200 days and had to pay approx over $50K for fees during that time. Re: Metricon Price increase 8Mar 13, 2017 6:54 pm PeteK Agree icat2000, locking in the price is always a gamble. Unless you have an iron-clad guarantee of the land titling, I would be careful. Only write that as our land was due to title within a couple of months of buying the block, only for many issues to arise with the developer. We hesistated locking in the contract with Metricon, even though we were assured that the prices would go up significantly if we didn't. Well, our land took two years to title! Reading the fine print on the M contract of sale, we erred on the side of caution, even though 3 months would be the locked in price. We estimated we'd be up for tens of thousands if we had of locked in, which compensated for any increase in prices. When we locked in two years later there were good sales on at the time, meaning a saving anyway- big companies always have sales on. Guy over the road from us- locked in with M as soon as he purchased the land- waited over 1200 days and had to pay approx over $50K for fees during that time. Ouch. That is some penalty. 50K a lot of money. Just to makea point about this, an approach that some people have found sucessful in negotiating these rises down, Is to provide some workings to the builder, specifying… 4 81669 Fair Trading can issue orders to rectify and complete but once the matter goes to NCAT these orders are automatically vacated. You will have to terminate contract and sue… 21 29693 How are you doing Ben? Extremely interested in hearing what you are doing or plan to do! 12 15114 |