Browse Forums Building A New House 1 Aug 17, 2017 6:44 pm Hi all, Just wondering when people think is the best time to lock in with a builder. We have just put a deposit on a block of land, not scheduled to title until November 2018. Some builders will offer a current-price-lock feature if I sign up with them now, meaning that I will be able to pay current price on the build for a specified period of time. Some are more generous than others, but so far one builder has offered until Jan 2019. Now, I understand that these estate developments are often delayed, sometimes significantly, and so I could end up exceeding that timeframe, at which point I would be charged a percentage of the original build cost each month (seems like 0.5% per month is typical). Obviously builders also increase their build cost with time as well. So, depending on likely price increases, it's all a bit of a gamble. Be good to get people's views and experiences. Thanks! Re: When to lock-in with a builder 2Aug 17, 2017 6:52 pm I'd say lock in once your land is titled. No point locking in now when you're most likely going to pay the price hike. In the meantime, get a quote from at least 3 builders so that you can compare apples to apples. Just my two cents. Re: When to lock-in with a builder 4Aug 17, 2017 8:07 pm I wouldn't wait til land has titled because the prices tend to go up twice a year, so cheaper to pay for an extended Tender, and also because it can take quite some time to get through the paperwork...anything from 3-12+ months depending on the builder! You want to be ready to go for council approval when the land has titled. But you also don't want to lock in too early and risk your Tender expiring. Building Monte Carlo 40- Wisdom homes 1 4660 Hi Mofflepop, I would recommend finding a building designer to prepare plans, they should design to your specified budget. The benefit is you can tender the project out… 9 20168 |