Browse Forums Owner Builder Forum Re: Builders Quote Vs OB 6Mar 22, 2011 8:42 am Ok so we have had a meeting with the bank, and its going to be very tight as far as owner building goes, as they require a minimum of 20% deposit of construction value so say 300k = 60k deposit, and from there on you have to pay for each individual stage out of your own cash, and then get reimbursed after inspection from the bank. So realistically we need to have about 150k sitting in our account which we donโt have exactly . So we are now looking at possibly just using a smaller sized builder, we have quoted up the house doing owner builder at roughly 8k per square averaged out. Its a 36 square double story. Just wondering can anybody recommend any private builders they used in the western suburbs of Melbourne? My land is in point cook. And from experiences what are people paying on average going through smaller sized builders? I found a few posts but they were very old. Just to help us as a rough guide Hope someone can help Cheers. Zac. โ Re: Builders Quote Vs OB 8Mar 22, 2011 10:39 am B STAR Forget about what the banks say Do you have equity!!!! there is a little bit of equity, but thats been used up in the equation. we could possibly scrape through, but dont want to be living on the fine line, as doing owner builder im sure things will come up along the way, and i wont have the funds to support that. so its a real fine line at the moment, hence why we are thinking to possibly go through a builder Re: Builders Quote Vs OB 9Mar 22, 2011 10:45 am Ive heard OB loans are getting harder to get - we had trouble with our line of credit for the build. BUT in saying that - we walked in to one CBA branch and they literally refused to even sit down with us after mentioning "owner builder" but a few days later we walked in to another CBA branch and that very same afternoon we had started the process and just needed to give them documents.... So my advice is that its worth seeing a few banks, if not branches, first Custom European Cabinets - Melbourne Kitchen Specialist PM for business details as website currently being updated! Our Crazy Owner Builder Journey! Re: Builders Quote Vs OB 10Mar 22, 2011 2:33 pm You may find that using a small private builder will be quite costly... I know an excellent builder in the Western Suburbs - John Terpenou (trades at J & M Terpenou), but he is definitely not cheap. Re: Builders Quote Vs OB 11Mar 22, 2011 3:10 pm Zac, who did your pricing? Is that complete, or do you still need to finish the house (flooring, curtains, A/C, landscaping) on top of that price? The only reason I ask is that the price you mentioned equates to $890 per m2. I'd expect a decent single storey to push over your pricing. Our house (double storey OB in WA) is working out to ~$1200 per m2. That is full turn key price with everything included in our estimation. Our house is a mid spec house with nothing to fancy (or the fancy stuff wont cost because I'm doing it). If you intend to OB then your estimate needs to be very accurate. Your pricing may be correct but it sounds to cheap. Accessible Carpentry & Cabinets accessiblecarpentry@gmail.com accessiblecarpentry.com.au https://www.facebook.com/pages/Accessible-Carpentry-Cabinets/583314911709039 Re: Builders Quote Vs OB 12May 25, 2011 5:06 pm We did an Owner Build for a kit - they had worked out all our costs for the kit but also for the labour and extra items we would need to get it all finished. We dealt with their Kit Finance specialist with Westpac who made the process much easier - they would fund each stage like with a Builder - we just had to pay to have an inspection done on our property before they would release the next payment to say it was approved. The banks seem to be struggling - NAB isn't doing much residential at the moment and isnt interested with OBs but some of the smaller banks and Westpac are in my experience. Hope that helps Re: Builders Quote Vs OB 13May 25, 2011 9:10 pm architectbrisbane We did an Owner Build for a kit - they had worked out all our costs .............The banks seem to be struggling - While I don't think they are struggling, I agree with you and BAM - they are not as tight as we all thought they were during the GFC. The banks have very, very intelligent market analysts / strategists, and knowing that (Victorian) home approvals had recently dropped, would instantly indicate their available market would shrink - therefore they will all want to talk to you at least... Like Bam states, approach them all... Just remember, if documents go into Head Office to be approved, any subsequent request from the same institution will offer the same result. Plans Done Feb 2010 Permit Done 23 April. Set out Done. Scrape and Excavations Done. Footings Done May 10th. Now, to find a brickie.Got one! Sub-floor bricks & Garage Done - 13th June Sub-floor installed 28 June (?) Re: Builders Quote Vs OB 14Jun 01, 2011 1:57 pm ZAC46 Hi guys, Our plans are finally done, and in the prossess of quoting up the project. This may have been asked previously, but i want to know what percentage on average are people saving doing owner builder, i read and hear an average of 15-30% on builders price, for a one off house. i understand each house is individual and different, but a medium average would be good to know. once i have mine i will post it up aswel. cheers Zac Hi, Have been browsing this site and forums for some time...we are now finalising plans with the architect getting ready for DA submission... My husband and I are also deciding between OB and Builder and before making a decision would need to have comparable quotes. Any recommendations on how to go about doing this so that we can then decide if the savings (or extras for the same price as some have mentioned) are substantial enough to go through the "stress" of OB? Any tips for a complete novice?? Thanks in advance.. Zac, what did you decide on? on a steep learning curve...YIKES!!! Re: Builders Quote Vs OB 15Jun 01, 2011 6:50 pm Are you prepared to spend lots of time shopping around and getting quotes? Ate you prepared to do some work yourself? Do you know some people in the building industry or any trades? If yes, you should be able to get medium to high quality build for age same amount the cheapest possible things will cost you of you don't owner build. Thats my theory anyway hey there! ๐ so, itโs kinda common for standard drawer depths to be around 500mm since most cabinets use this size to fit the usual runners… 3 21366 I was being kind to the builder. With the amount charged for the upgrade the builder is probably charging closer to 100% margin. There are a few variables as I… 5 14634 I had 28m2 of engineered pavers laid six months back and it was difficult to find someone not taking the pi$$. Internet suggested it should be $85-100/m2 to lay them.… 3 13052 |