For many people, the decision to build their own home is the culmination of a life-long dream. And for good reason. Your home is your kingdom and there is a rare satisfaction in creating something special that fits all of your personal specifications.
Likewise, building a home can deliver great results for those looking for a tried-and-tested, long-term investment option.
The home building dream, however, too often turns into a nightmare for those who sign contracts with builders that go into liquidation after a deposit has been paid or during the construction. Sometimes disagreements can also occur that leave one or both parties wanting to walk away.
The builder relationship ends. What next?
For those who find themselves on the end of a dreaded phone call notifying them that their builder is no longer able to trade, all is not lost.
At Adelaide Build Assist, we had a client referred to us recently who found themselves in this exact situation.
The first thing we did was ask them to bring in all their paperwork, including plans, engineering and the contract. We then contacted the administrators and were able to negotiate for the client to be released from the outgoing builder’s copyright. Removing the copyright ‘shackles’ meant there was no need to re-do the paperwork – this was a great and cost saving outcome for the client who wanted to build the home as contracted.
We were able to amalgamate the documentation and write a new tender specification that gave some better clarity on grey areas of specification, as well as make some additions requested by the client.
Adelaide Build Assist then conducted a competitive tender process inviting independent, trusted builders with a credible track record to participate. The price provided by the previous builder remained confidential, so we knew we were receiving an unbiased ‘best price’ offer from each builder.
This process produced three independent prices below the previously contracted builder’s price. Not only did the client recover their lost deposit, they were able to make some further savings as well, putting them in a better position than they were before. A remarkable result!
We can very happily report that our clients are now well settled in their new home!
How do we achieve such competitive prices?
A residential builder works off residential rates, including building margins. Adelaide Build Assist, on the other hand, is constantly tendering work on behalf of clients - our projects are attractive to builders who benefit from the thoroughness of the ABA system to ensure a seamless build, but the firms know that to win the work their pricing has to be the best.
We also prefer boutique builders who mostly rely on referral work, as opposed to larger builders who utilise display homes, larger workforces and marketing budgets – these costs that are typically recouped in their pricing.
Work with the trusted experts
The best way to avoid this situation is to use an experienced building advisor such as Adelaide Build Assist from the beginning and tender for the best price from trusted, boutique builders.
However should you come to us when the worst has occurred, our team can work with you ensure your dream doesn’t become a nightmare.
Contact us for a no obligations discussion about your project.