It’s one of the most dangerous traps homeowners can be lured into.
While the too-good-to-be-true quotes from volume builders seem affordable upfront, they can escalate significantly as the project progresses leaving you with unwanted financial surprises including:
- Additional costs for upgrades.
- Soil tests.
- Building permits, and more.
All of which leads to financial strain, project delays, and even incomplete builds.
For example, let’s say a family goes to a volume builder with a $500,000 pre-approval.
Initially, the quote matches their budget, but as the project progresses, hidden costs balloon by another $100,000. They are unable to secure further approval and…
This Results Both Financial Stress, and Even an Unfinished Home
While the idea of believing $250,000.00 can build a four-bedroom home is certainly appealing, the notion that a complete, feature-rich home can be produced for an unrealistically low price is a myth.
Especially with modern energy efficiency standards.
Take double-glazed windows for instance. They are often not included in the base price advertised by volume builders. And it’s only once the project has started that you discover your initial quote did not account for essential features which leads to escalating and often unmanageable costs.
Some of the other ‘extra’ features to ask about include:
- Upgraded Materials and Finishes: Make sure high-quality materials, such as premium flooring, and durable roofing, are included in the initial quote.
- Comprehensive Site Preparation: Ensure that site-specific requirements like soil tests, excavation, and drainage solutions are factored into the price.
- Building Permits and Approvals: Confirm that all necessary permits, including council approvals, are covered in the quote.
- Energy Efficiency Standards: Verify that energy-efficient features, such as insulation, solar panels, and efficient heating/cooling systems, are part of the package.
- Full Interior and Exterior Finishes: This includes painting, landscaping, fencing, and driveways—everything needed to move in and enjoy your new home.
- Pre-Wiring for Technology: Include provisions for smart home technology, security systems, and high-speed internet to future-proof your home.
- All-Inclusive Pricing: Insist on a detailed, itemised quote that leaves no room for unexpected upgrades or hidden fees down the line.
At Regional Home Builders, we provide all-inclusive pricing that covers everything listed above, together with all the finishing touches including floor finishes, light fittings, and provisions for appliances. This eliminates the need for costly upgrades down the line.
We also ensure our homes meets local energy efficiency standards from the beginning. (something that is often treated as an add-on by volume builders).
The End Result: You Get a Home Built to Your Expectations, Without Financial Strain or Last-Minute Downgrades
Recently, one of our clients was quoted $725,000 all-inclusive for their home. The only change they made was switching from a rake ceiling to a flat ceiling, which resulted in an $8,000 to $9,000 credit. Our promise of transparency was kept, and the final contract price matched the original estimate.
Unlike volume builders who often offer low initial prices only to rely on costly upgrades to make a profit, we focus on removing uncertainties by including all essentials from the beginning. You will know exactly what to expect, allowing better financial planning and peace of mind.
Building your dream home is one of the biggest investments you’ll ever make, and it should be an exciting and fulfilling experience.
Don’t let misleading quotes turn it into a stressful, financially draining ordeal.
There is a better way.
Imagine enjoying a smooth build, and then moving into your newly built custom home without the anxiety of unexpected costs or last-minute downgrades.
It can be done, make no mistake about it.
But it pays to be informed.
If you’re planning to build your dream home and wish to avoid the pitfalls many homeowners fall into, we’ve created a comprehensive guide for you to download:
Build with Confidence – 7 Things You Must Know Before Designing a New Home.
It’s completely free and provides valuable insights to help you make informed decisions.
Or schedule a Free Consultation to discuss the vision you have for your new home.
For more tips to help you navigate the complexities of home building, download our Free Guide
Build with Confidence – 7 Things You Must Know Before Designing a New Home
