14/11/2022
Found this story on Property FB group. Good News!
Signing build contract for another Townhouse project.
You would not argue that it Is a buyers market in real estate. I would like to add to it that it is a buyers market for the construction as well.
Construction boom peaked and builders are looking to fill their books for the next year. It may not be the true for every builder but opportunities are definitely there.
The reason I am making that assumption is because I am now getting phone calls weekly or fortnightly from random builders looking for a job.
On top of that current build contract price have gone down 60k from the original rough estimate in July this year due to the construction tender competition.
And as a cherry on the cake current build contract is full turn key contract without any provisional sums and rise and fall special conditions as in old good times.
So if you were thinking to build then it is probably the best time to go a chat to the builder.
The only word of warning is to make sure the price you are offered is competitive and is not too low compare the other offers so that it is clear builder would make money. Otherwise, you are both in trouble)
As you can see it is pretty relaxed and friendly environment at signing the contract. This what you want with the builders you work with. You both want to be relax an confident about the future knowing you can get things when (NOT IF) they get on your way)
