Quality Built Residential Homes: Reliable, Timely and on Budget
Luxury designer family homes – classic feels and high quality, modern finishes…For double the price? Not for the Sydneysiders working with residential home builders, Managed Build. During recent meetings with clients in Marrickville and Stanmore, the team has noticed an alarming trend. Customers are surprised when they are given a complete up-front cost for the project.
As local builders proud to be a part of the Sydney community and building beautiful designer homes, we take pride in our:
• Transparent pricing.
• Clear communication and updating our clients regularly.
• Quality workmanship.
Read on to learn about pricing and the five most important characteristics to look for in a builder.
What are The Benefits of Up-Front Prices?
First and foremost, you know what to expect when you receive a comprehensive quote and plan for the project. The beauty of knowing total costs gives you the flexibility to adjust designs and features. If you have picked up a renovators dream at a Marrickville auction, you are going to want to be able to completely trust your builder to stay within your budget. The same goes for new builds.
Up-front prices are helpful because you may be able to add a touch of luxury to your home design. By working with your builders, you may discover that you can change materials. You may even be able to add features to the home you thought you would not have been able to afford.
50% of residential construction projects cost more than originally quoted – Australian Bureau of Statistics(*1). To avoid surprising costs at the end of your build, be sure to partner with experienced local builders.
Right Now, There Are Higher Than Normal Building Costs
If you receive a few quotes for your building project, you may be tempted to go with the lowest price. The biggest problem here is a lack of transparency. If the bid you have received is not an all-inclusive final cost, you could be hit with a massive bill down the track(*2). This is even more likely now because we are facing:
• A shortage of building supplies and materials(*3).
• Higher than normal building costs (on average 3%-4% more)(*4).
• Project delays.
The added factor of supplies arriving late to building sites can easily be overlooked as a major cost. Most often, when supplies are delayed, there is a domino effect across the whole project. Delays matter because the entire build could run past the deadline and end up costing you more money. Furthermore, if a particular material is unavailable, a more expensive alternative may be used – further stretching the project’s budget.
5 Characteristics To Look for in Your Residential Home Builder
It is invaluable to partner with a builder who has:
- A clear plan for the entire build.
- Transparent costing.
- Reliable contingency plans.
- Experience to manage unexpected issues if they arise.
- Excellent communication.
Managed Build is known for being trustworthy and committed to delivering exceptional results. To discuss your project or to get started on a comprehensive building quote, please contact Managed Build.
References *1. Australian Bureau of Statistics. Building a New Home: Construction Cost Changes. 2020. *2. Wen, MA. Cost Plus Basis Contracts: What are They and When Should They Be Used? Morrissey Law and Advisory. 2018. *3. The Urban Developer. HomeBuilder Puts Pressure on Construction Costs. 2021. *4. Managed Build. Luxury New Home Builders in NSW Facing High Building Costs! 2021.