09/10/2026
There's one bank transfer I wish I could undo.
My wife told me not to make it.
I made it anyway.
We were building a duplex in Cameron Park.
Two homes on one block, both intended to be rented out.
We'd signed the contract, made the progress payments and watched the buildings go up.
The roof was on. Windows and doors were installed.
From the street, everything looked pretty good.
I even sent a photo to a mate.
"Nearly there."
I wish that had been true.
The delays started gradually.
One week the builder was waiting for materials. Another week the trades were busy elsewhere.
I'd ring to ask when the next stage would be finished.
"Should be next week, mate."
Then next week would arrive, and I'd be ringing again.
Sometimes I'd drive past the site and there wouldn't be anyone working.
Meanwhile, the bank was charging interest on our construction loan.
We'd budgeted for that during the build.
But every extra month meant another interest payment and another month without rent from either house.
Then the builder told us he needed more money.
Labour and materials had become more expensive, he said.
He couldn't finish the duplex for the original contract price.
I pulled out our contract.
We hadn't changed the plans or asked for upgrades.
I couldn't understand why we were being asked to pay more for exactly what we'd already agreed to.
My wife said we shouldn't pay another cent.
I agreed with her about the contract.
But the houses were around lock-up stage. There was still a huge amount to finish inside.
I kept thinking about what would happen if the builder stopped working.
We'd have two unfinished houses, no rent and a construction loan that still needed paying.
So I made the transfer.
I saved the receipt and asked the builder when we could expect the remaining work to be completed.
He gave me another estimate.
The delays continued.
I'd visit the site, ring for updates and try to work out when we could finally advertise the properties for rent.
Then the builder told me he'd lost his building licence.
His company was going into liquidation.
He couldn't finish our duplex.
I asked what we were supposed to do.
He said we'd need another builder.
I rang my wife.
"He's not finishing the houses."
"What do you mean?"
"He's lost his licence."
She asked about the extra money we'd paid.
I didn't have an answer.
I went back to the site.
Two buildings standing there, both locked up, both still needing substantial work.
We'd already paid so much money.
And now we didn't even have a builder.
I started ringing builders around Newcastle and the Central Coast.
As soon as I mentioned that the original builder had gone into liquidation, the answer was usually the same.
"Sorry, mate. We don't take over other builders' work."
I tried company after company.
Nobody wanted it.
One builder said he wasn't prepared to take responsibility for work he hadn't done himself.
I understood his point.
But we still had two unfinished houses and a loan to repay.
Around then, I noticed dark patches on the Hebel cladding.
I walked closer.
Mould.
On brand-new houses that nobody had ever lived in.
I took photos and sent them to my wife.
"Is that mould?"
"Looks like it."
"On our new houses?"
"Yep."
I didn't even know who was supposed to deal with it.
We had HBCF insurance and had already arranged a Dilapidation Report.
But the claim wasn't sorted out, and we still needed someone to finish the duplex.
Eventually, I posted in a local Facebook group.
"Can anyone recommend a licensed builder willing to finish an incomplete duplex in Cameron Park? Original builder has gone into liquidation. Everyone I've contacted has turned it down."
A few people suggested Fair Trading.
Someone recommended a solicitor.
Then somebody gave me the name of a builder who was taking over unfinished projects.
I sent them a message with some photos.
They asked for the contract and plans, then agreed to inspect the duplex.
I was relieved just to find someone willing to look at it.
They walked through both homes, checked the existing work and prepared a plan for completing the construction.
Then I saw the cost.
I knew finishing two houses wasn't going to be cheap.
But we simply didn't have that kind of money.
We'd already paid the original builder, including the extra amount he'd demanded.
Now we needed a substantial sum all over again.
I went through our accounts.
There wasn't some forgotten savings account with enough money to cover it.
We'd already used money we'd intended to keep aside.
And the construction loan was still costing us interest every month.
We started borrowing.
I hated having to ask people for money.
We'd started this project because we wanted two investment properties.
Now we were borrowing money just to finish houses we'd already paid someone to build.
But leaving them unfinished wouldn't make the debt disappear.
Eventually, we scraped together enough to get construction moving.
The new builder started work.
Trades returned to the site.
Materials arrived.
For the first time in ages, I could drive past and actually see progress.
But the money was disappearing faster than we'd hoped.
We'd already arranged the Dilapidation Report for our HBCF claim, but the financial information still needed to be submitted correctly.
Later, while construction was underway, the new builder helped us get that part sorted out.
The insurer eventually approved and paid the incomplete works component.
I checked the payment against what we were actually spending to finish the duplex.
It wasn't even close.
The payout covered only a small part of the completion cost.
Most of the money still had to come from us.
And then another problem appeared.
The new builder found a defect in work the original builder had already completed.
It needed to be corrected before construction could continue.
I asked how much it would cost.
Another invoice.
For work we'd already paid for once.
We paid it.
Then another defect was discovered.
Some problems hadn't been visible during the initial inspection. They only became apparent as the remaining construction progressed.
Each time, the builder documented what was wrong and what needed to be done.
And each time, we had to find the money.
We'd already borrowed to cover the enormous gap between the insurance payout and the actual cost of finishing the duplex.
Now we were paying to correct the original builder's mistakes as well.
I started keeping the defect invoices in a separate folder.
Photos. Descriptions. Receipts.
The HBCF claim was still open, but we couldn't finalise the defect costs until the houses were finished and we knew what else might be uncovered.
So we paid for the repairs as they came up.
The builder documented everything.
And the work continued.
The kitchens were installed.
The bathrooms were completed.
The remaining construction was finished.
Eventually, both homes were ready.
I walked through the duplex.
Everything looked the way it should have looked a long time ago.
But I couldn't look at the finished rooms without thinking about how much money we'd spent getting them there.
And how much of it we'd borrowed.
After completion, the builder helped us put together the documentation for all the defect rectification work we'd paid for.
Those expenses were submitted under the same HBCF claim we'd kept open.
The insurer had already paid the incomplete works component earlier.
Now it reviewed the costs of correcting the original builder's defective work.
Those costs were approved.
We were reimbursed for the rectification expenses.
That was a huge relief.
But it didn't make the project financially worthwhile.
The incomplete works payout hadn't come close to covering the actual cost of finishing the houses.
We'd borrowed money to make up the difference.
We'd paid construction loan interest throughout the delays.
We'd missed out on rent from both properties.
And we'd made that extra payment to the original builder before he lost his licence.
Even after the defect reimbursement, the total cost was enormous.
Far more than we'd ever planned to spend.
We finally advertised both homes for rent.
Both found tenants.
I remember seeing the first rental payment arrive.
After so long watching money leave our account, it was strange seeing some come back in.
But the numbers were awful.
The rent couldn't make up for what the project had cost us.
We still had debts to deal with.
As an investment, the duplex had turned into a financial disaster.
Both homes are rented now.
The construction is finished.
There are no more trades to chase, no more unfinished rooms and no more calls asking us to pay for another repair.
We still have the financial consequences to deal with.
But at least the building nightmare is over.
I still think about that bank transfer.
The extra money I paid because I was afraid the original builder would stop work if I refused.
He stopped anyway.
The company that eventually took over and finished our duplex was Ark Houses.
They completed seven unfinished projects from the same failed builder, including ours.
I'm grateful somebody was willing to take it on when nobody else would.
I'm relieved the houses are finished. I'm grateful they're rented. And I'm grateful the nightmare eventually ended.
(a Cameron Park homeowner's story)
