With the building boom in Queenstown and Southern Lakes putting pressure on the industry, Master Builder Paul Reed Homes has shared some ‘Insider Tips’ to help you avoid some of the stress and hidden ‘financial traps’.
Beware of low-ball quotes that are full of substitutions to the original specs. Under-pricing often results in builders cutting corners later to maximise profit, or even running out of cash before the work is completed, causing them to go bankrupt.
Question every ‘PC Sum’ in your quote. These are estimates only for kitchens, bathroom fittings, floor-coverings, electrical fit-out etc, but they are often underestimated to keep quotes as low as possible, with unexpected expenses if you upgrade fittings later.
Avoid over-committed contractors. Yes, projects can be delayed by bad weather etc but try to avoid unrealistic promises from contractors who might be tempted to take more work than they can handle at one time.
Always choose the best value for money quote. Remember to look for what’s not included in your contract as well as what is included. And, as a rule of thumb, the cheapest quotes usually have the least information – again often leading to more expenditure later.
Building a new home can have many financial traps for the unwary, so why not download Paul Reed Homes’ complete ‘Insider’s Guide’ below and ensure a smooth, stress-free experience when it’s time to build your new home.
Free Guide Available
Building a new home can have lots of financial traps for the unwary, so why not get a copy of our ‘Insider’s Guide’ below and make sure you have a smooth, stress-free experience when it’s time to build your new home.
The ‘Insider’s Guide’ To Risk-Free Building