Not many building companies would agree to have a colour selection before you sign the contract is the problem. Especially if you need a custom design.
Thanks for another awesome video, love your honestly it's so refreshing! My partner and I have decided to build with Homes By CMA, we've agreed to the unregistered land fixed price guarantee, which means we now have 90 days to plan and select everything. I have a general idea of what I like but can be quite an indecisive person (I'm not going to spend 2 hours on a roof colour though! :'D) Do you guys allow for pre-visits to your showroom before the initial colour selection appointment so I can get a general idea of what there is to choose from?
Love these podcast guys and you both are so informative and hilarious. informalarious one could say. (Feel free to use that phrase, i crafted it for you). What are your thoughts on using a very small scale builder who has done heaps of renos for a full house build? I have a guy now and we are almost at the contract stage once he has quotes for everything. I have seen how good his tradies are and they are some of the best in the area. Obviously we will be paying more than a project build for perth but he is aware we want a solid house/waterproofing/straight walls etc as priority and to get the sizes of the rooms we want. We are not super fussy people as far as fixtures may go but then again, we are paying for them. This house will be for atleast 20-30 years while we raise our kids. Im well aware i should be aiming to have a fixed price contract but if a cost plus comes my way im not sure i would refuse. Are there any tips for improving my risk mitigation with cost plus contracts and additionally, is it fair i seek the builder to provide evidences of all insurances/indemnity stuff before signing? What is yhe right approach when asking a small builder for this info?? Thanks again and keep them coming. Hope things are going well for you and yours :)
Thank you very much for the feedback ! Informalarious ! love that ! In regards to your question, it very much depends on the experience of the small scale Builder. Have they only done renos, or have they done new builds too ? If it’s a small builder, that has done new homes, and renovations, that would be fine. If they have only done renos, I would just make sure he knows what he is doing as New Homes are very different. There is no reason why he would need to do a cost plus contract though, and I would stay away from those contracts because you will end up paying more. Example: The builder makes a mistake, and is getting it rectified (you are not aware of the mistake though), he gets it done, gets an invoice, and he will get paid for it with margin on top. And that’s not fair to you, and it would be very easy for him to “hide”. Always insist on a Fixed Price. In terms of insurances, that’s not a problem, usually it’s the banks that ask us, so you can always say to your Builder that your lender needs: License and all the relevant insurances. It’s common practice 😊 Hope this helps, and all the best !
@@homesbycma7636 Legend! Appreciate the advice and taking the time to respond. He has done new builds before and also has a 2 story on the books for this year. Shame you guys dont have a branch in WA you would put our project builders to shame haha... I will definitely insist on a fixed price. Thanks again and keep doing what your doing :)
Not many building companies would agree to have a colour selection before you sign the contract is the problem. Especially if you need a custom design.
Thanks for another awesome video, love your honestly it's so refreshing! My partner and I have decided to build with Homes By CMA, we've agreed to the unregistered land fixed price guarantee, which means we now have 90 days to plan and select everything. I have a general idea of what I like but can be quite an indecisive person (I'm not going to spend 2 hours on a roof colour though! :'D) Do you guys allow for pre-visits to your showroom before the initial colour selection appointment so I can get a general idea of what there is to choose from?
I realised I asked this question midway through the video and then it got answered haha! Thank you.
Love these podcast guys and you both are so informative and hilarious. informalarious one could say. (Feel free to use that phrase, i crafted it for you). What are your thoughts on using a very small scale builder who has done heaps of renos for a full house build? I have a guy now and we are almost at the contract stage once he has quotes for everything. I have seen how good his tradies are and they are some of the best in the area. Obviously we will be paying more than a project build for perth but he is aware we want a solid house/waterproofing/straight walls etc as priority and to get the sizes of the rooms we want. We are not super fussy people as far as fixtures may go but then again, we are paying for them. This house will be for atleast 20-30 years while we raise our kids. Im well aware i should be aiming to have a fixed price contract but if a cost plus comes my way im not sure i would refuse. Are there any tips for improving my risk mitigation with cost plus contracts and additionally, is it fair i seek the builder to provide evidences of all insurances/indemnity stuff before signing? What is yhe right approach when asking a small builder for this info?? Thanks again and keep them coming. Hope things are going well for you and yours :)
Thank you very much for the feedback ! Informalarious ! love that !
In regards to your question, it very much depends on the experience of the small scale Builder. Have they only done renos, or have they done new builds too ?
If it’s a small builder, that has done new homes, and renovations, that would be fine. If they have only done renos, I would just make sure he knows what he is doing as New Homes are very different.
There is no reason why he would need to do a cost plus contract though, and I would stay away from those contracts because you will end up paying more.
Example: The builder makes a mistake, and is getting it rectified (you are not aware of the mistake though), he gets it done, gets an invoice, and he will get paid for it with margin on top.
And that’s not fair to you, and it would be very easy for him to “hide”. Always insist on a Fixed Price.
In terms of insurances, that’s not a problem, usually it’s the banks that ask us, so you can always say to your Builder that your lender needs: License and all the relevant insurances. It’s common practice 😊
Hope this helps, and all the best !
@@homesbycma7636 Legend! Appreciate the advice and taking the time to respond. He has done new builds before and also has a 2 story on the books for this year. Shame you guys dont have a branch in WA you would put our project builders to shame haha... I will definitely insist on a fixed price. Thanks again and keep doing what your doing :)