Please be very careful of those all-in-one build/finance packages - they don’t have a good success record. Please check out the quality of their previous builds too. And any past bankruptcy/business failures too for the builders. Phoenixing a building company to cover up past defaults is all too common. Get some advice from your accountant BEFORE you sign anything, and be very clear about your rights if the builders go broke or otherwise default before completion. Or vanish after completion leaving serious structural repairs that need to be done to make the place liveable. Please.
Too many people get caught out by an industry that for a very long time now has depended on a kind of reverse ponzi scheme. It works fine for a bit, but any tiny change in for example materials supply can bring the whole thing crashing down. And with the world in such turmoil and supply chains in such chaos, it seems very difficult to predict what will happen over the next few years.
Gibsonhasafluffybutt@aussie.zone 4 days ago
Well a couple of things:
I didn’t know I could get enough from the bank on my current salary
You can reserve land in new builds and not have to pay for it (through a loan) for a couple of years
The 2 builders he gave me the details of can do the mortgage broking as well
Explained that it’s possible to pay to have your credit record scrubbed of defaults
TheWitchofThornbury@aussie.zone 4 days ago
Please be very careful of those all-in-one build/finance packages - they don’t have a good success record. Please check out the quality of their previous builds too. And any past bankruptcy/business failures too for the builders. Phoenixing a building company to cover up past defaults is all too common. Get some advice from your accountant BEFORE you sign anything, and be very clear about your rights if the builders go broke or otherwise default before completion. Or vanish after completion leaving serious structural repairs that need to be done to make the place liveable. Please.
Too many people get caught out by an industry that for a very long time now has depended on a kind of reverse ponzi scheme. It works fine for a bit, but any tiny change in for example materials supply can bring the whole thing crashing down. And with the world in such turmoil and supply chains in such chaos, it seems very difficult to predict what will happen over the next few years.
Gibsonhasafluffybutt@aussie.zone 4 days ago
Thank you ❤️
I’ve saved this comment.
LowExperience2368@aussie.zone 4 days ago
Yeah I feel like they’re known for doing shit builds. That’s why I’d rather buy a pre-existing place.
LowExperience2368@aussie.zone 4 days ago
That’s great! Hopefully the builders aren’t those shonky ones from those building inspection videos.
Gibsonhasafluffybutt@aussie.zone 4 days ago
That was my first thought too lol
Regardless, it’s good to know the process.