When you approach the best home builders Brisbane has to start working on your new house, you are given many details that will take time for you to process. From choosing the right layout for your home to selecting the right layout to choose the customizations you need, there are many decisions to be made. For first-timers, the chances of making mistakes are plenty.
As we deal with both clients and builders we are aware of the common mistakes that clients make. So here is our guide on how to avoid them.
1. Not Asking for the Final Prices
The first quote you receive from the Brisbane builder is most likely to be the base price of the floor plans they are offering for any Brisbane building. After looking at these modern Australian house plans, you might want to opt for upgrades or changes in the layout. The final cost of the house will depend on what kinds of upgrades you choose. The price of these upgrades, even for the same floor plan will also vary from one builder to another.
So before you fall for these “best prices at incredible discounts” make sure to have discussed the entire costs and then out down the initial deposit.
2. Not Considering the Upgrades
The model houses the builder put up for your references often comes with the upgraded options. On the other hand, the price they put up would be for the standard and basic house designs. Different things like the floor tiles, the wallpapers, and even the small kitchen designs with granite tops and lights are all upgrades that you have to pay separately for. In short, what you are paying for in the basic plan would only be for the basic layout and the structure of the house. If you are hoping to get the final result that looks like the model house, you are going to spend a lot more than the standard price that they have advertised for.
There might also be upgrades in the landscapes that you have to do such as the height of the fence. As the landscape is something many people often overlook, you should be aware of such costs that might pop up only towards the final phases of construction.
3. Not Verifying the Upgrade Costs
The main problem with choosing a builder’s plan is that we tend to believe whatever they offer as it is all part of the package. But if you shop around for builder plans, you will find out that though the base prices might come close, the cost of all the upgrades changes dramatically. What the agents tell you are mostly the approximated rates and you might end up paying more or less when it comes to the specifics. Remember that the agent works for the builder and not you, so the more you spend the more commission they might make.
Even if they are trustworthy, it is best in your interest to get the costs as written quotes in the early stages itself.
4. Not Asking for Incentives
As you are the buyer, it is your job to ask for any incentives or discounts on the prices. Ask whether they have any promotion going on for the sales, or ask whether they throw in any upgrades for free with the package or even offer special rates with any lender. Do not hesitate to negotiate with your agent for the best price they can offer you. Do this with all your prospective builders before finalizing on one.
5. Not Looking at the Builder’s Reputation
Never ignore a builder’s reputation even if the prices are attractive. It is important that you enquire about the builders’ previous projects and their success rates. Go to their previous projects and check out for yourself how the building survives. If a builder offers you a rate that is much below the market value, consider why they are doing it and how they are able to do it. In such cases, it is probable that they are using low-quality products that what they promised. Once you sign the contract, it is difficult to go back on changes, so enquiring about your builder is one of the first things you should do.
6. Not Having a Back Up Plan
Many buyers make the mistake of assuming that they will be able to sell their old property in time to finance the new projects. But even in the mist ideally located houses, depending on the time and the market, the sale might not happen when you want it the most. It is even more difficult with unusual plots and sloping house designs.
So no matter what your real estate agent tells you, there is always a chance that you might not be able to sell the house. It is best to have a backup plan in case, whether you will choose to rent it out, or get financing from elsewhere or drop the plan of the new home for the time being. Though it might be the worst-case scenario, it is best to prepare yourself.
7. Not Considering the Fluctuating Interest Rate
When you start the process of looking into single and split level house plans, the quote you might be getting on the monthly payment will be based on the current market rate. Unless you lock the interest rate, the interest rate might go up or down depending on the rate then. If you haven’t agreed on the monthly payments it could even vary in the time you finish the building which might be a long time. It might be best to consult with a mortgage broker to choose the best plan for you and how to proceed with it.
8. Not Being Patient With the Process
No house is built perfectly from start to finish. There are always unexpected changes that will occur on-site. There is also a reason why certain things take time to finish. All this is part of the journey and you should know how to accept them. All you can do is to pay attention to details and ensure that things go smoothly to the best of your knowledge.