Browse Forums Building A New House Re: Anyone building with Homebuyers Centre in VICTORIA? 4896Jul 31, 2017 8:48 am EricS Hi Anna and Atherbogan, The value differed by almost $50k. The land price is on point though. The reason given to me is that there are no comparable sales to compare the price to and so the valuer thinks that the building price is too high I am a first home buyer and I am not too sure on what my options are. The broker will try to get valuation from other banks as soon as possible. atherbogan, If you take out alfresco, wouldn't that also lower the valuation again? On a side note, I noticed that a HBC H+L package on a lot beside my lot that was supposedly booked when I was in the office has been up on the realestate site sold by Stocklands with land only portion. interesting Cheers removing the alfresco didnt seem to reduce the value much, apparently my bank Westpac considered it an add on that doesnt do much to a house price. Do you have upgrades that you can remove and do post handover. having said that i removed the alfresco and raised the ceilings to 2590 and that seemed to do the trick. Re: Anyone building with Homebuyers Centre in VICTORIA? 4897Jul 31, 2017 8:51 am EricS Hey all, I am also building with HBC and I have selected fixed cost H+L package in Allura estate in Truganina with Jasper 17. The land is about to title next month hopefully since the work is done and it's just waiting for titling office. I have done my colour selection about two months ago and paid about $2k in upgrade because I put a fair bit of upgrade into PWC. I am using Resolve finance and planned to use their in-house bank for construction finance. Got my valuation back today and I was told the value is way too low.. so the broker will have to start looking for other banks. Does anyone has similar experience building in the area? My understanding from the broker is that the building cost in the contract is way too expensive. Cheers Out of interest what have you included in your PWC? Re: Anyone building with Homebuyers Centre in VICTORIA? 4898Jul 31, 2017 8:52 am tarajbrown The contract states that the developer can cancel the contract 30 months after we signed and that we cannot request compensation or argue it. Meaning they can cancel and if we want that lot still we need to sign a new contract with new price thats a tough situation you're in, look for a lawyer maybe they can find a loophole at this earlier stage. unfortunately us consumers are not very protected from these developers. Have you called the consumer affairs in vic, they may be able to assist or give you some pointers Re: Anyone building with Homebuyers Centre in VICTORIA? 4899Jul 31, 2017 9:19 am Hey ngrundy and atherbogan, I did spend a bit on upgrades. I increased ceiling to 2700mm, added double glazed windows, upgraded the kitchen. Those are stuffs that I think will cost a lot more to do post handover. The others about $4k are cosmetics like powerpoints, lights and stuffs. I don't hve any alfresco at this stage. I hope other banks can give me a better valuation. Cheers Re: Anyone building with Homebuyers Centre in VICTORIA? 4900Jul 31, 2017 9:42 pm I don't remember that being in my contract. And if it was I'm sure my conveyancer would have pointed it out. Thats terrible. I can't believe they get away with that I havent, and i havent looked to much into it, but on face value its not the saviour its trying to make out to be. Shared equity in your home is never a good idea. The… 1 3974 Hi, have purchased a house with 2 single garage doors. The Centre pillar one side sits proud to the other. Can I change 2 doors into one. Please see picture. 0 6353 For reference, this is the Austlii reference. My take on this is, that they would be breaking the law denying access to a homeowner in Victoria, or their agent from having… 1 9098 |