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Make sure you do a highly DETAILED costing BEFORE you start a project. Its when all the little ‘unexpected’ costs add up that your prject can go waaaayy over budget and turn from highly profitable to no profit at all…. and cost you big money.
Hi,
Can I just add that there are a million legitimate reasons a builder can go over time. So everything has to be looked at before deciding to take further action, it could cost you $$ to do so, only to find out that it is out of the builders control & therefore not his fault.Also, if you are willing to penalise a builder for being over time, are you also willing to pay a bonus if he comes in early? Only fair I would think. Maybe that would add incentive for your builder next time. If a builder doesnt work, he wont get paid so I can confidently say that the vast majority of builders would prefer to be on the job site as much as you want them there.
I do agree also that you really need to scrutinise your contract as once its signed its binding for both parties. [cap]
Hi,
I think you can make money in most markets by giving the market what they want. i.e. putting a house on vacant land can actually give you quite a good return in the right area as long as you build the right type of house as well. Really it comes down to the same thing, researching your market!! and make sure you do the figures.
In fact subdivisions can take ridiculous amounts of time in certain areas due to different restrictions and efficiency of the departments & services you need to deal with.
Most options usually take longer than you think, especially if you havent done it before or havent researched things properly.
If you research well and decide its worth doing then you should have a good idea of what you will come out with no matter what option you take.
