Due to increasing demand from solid population growth, consistent profits in employment and low-interest rates, new home building in Australia remains at an all time high. ANZ’s economics team foresee a surge in dwelling approvals in the coming months despite minor setbacks. If you are among the many Australians who plan on building a new home, you can choose from a wide range of new home builders near your area to get a favorable deal.
However, not all home builders can be trusted. Make sure to review their credentials and their years of experience first before you sign any agreement. If you plan to share your land with a relative or friend, you can also contact dual occupancy builders to conceptualize a duplex home for you. These builders have expert architects and designers to make your dream home come true even with limited space.
However, to avoid getting scammed by shady builders, here are warning signs you should look out for.
1. No Online Presence
When you search for their company online, you cannot find any results that match their profile. They have no company website and no listings. If you want to look at their online portfolio for any dual occupancy designs they have completed, you couldn’t find one. Everything is online nowadays and not seeing them online should be enough to raise red flags.
2. No Permits to Offer
Please note that when you allow new home builders to work without permits, you could be fined and be required to remove whatever structure is built on your land. It might even decrease your home’s resell value should you decide to go that route.
3. Give Unbelievable Low Quote
If the quote is too good to be true, then it probably is a shady deal. It is possible that they do not have enough experience on doing any project or they will take shortcuts on quality to make up for the low cost. If you plan to build your new home on a sloping block of land, you want to make sure that you hire expert sloping block builders with enough experience to match their record. It is best to avoid such builders for your peace of mind.
4. Prefer Cash Payments or Huge Downpayments
Although paying in cash is not illegal, it is still risky. You will not know when the builder will run off with your money without having any construction done on your property. It is normal for large projects to demand down payment but the sum should not be too large. If the builder cannot provide you with a proof of payment, then it is safe to assume that they are up to no good.
5. No Valid Insurance
This is important when hiring new home builders. If the builder you choose cannot provide you with a valid insurance that covers damage to your home or property while your home is under construction. Contractors insurance should also protect you in case the workers are injured on site. Not having all these could possibly void your home insurance.
Building a new home can be a challenge. That is why choosing licensed contractors is the safest and cost-efficient option. This way you can rest assured that the work is done by professionals at Latitude 37, with a proven track record as well as proper license to back them up.