Questions about Project Homes - NSW

Discussion in 'Adding Value' started by Tenex, 18th Jun, 2015.

  1. Tenex

    Tenex Member

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    I have heard a few people have been using project homes to build houses / towhouses / duplexes either to live in or as investment.

    I will be needing a builder in about 2-3 months time to build a duplex close to Parramatta area. I will be living in one and either sell or rent the other.

    This will be my first build project so I dont have a lot of experience dealing with builders or monitoring their progress.

    Are project homes good for my need or is it better to research and find a private builder?

    If I ended up going with project homes, whats the best way to negotiate the contract with them initially (ie: timelines, budgets etc) so there are no disappointments and also how can I monitor their progress?

    I have heard stories about them not doing the work properly so I need to also know how to monitor them.

    Obviously the pro is to save money but how can it be done successfully with project homes?
     
  2. Scott No Mates

    Scott No Mates ...and people wonder why?

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    2-3 months isn't far away. Have you already achieved DA & CC? DA will take at least 1.5 months from submission of plans.
     
  3. Tenex

    Tenex Member

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    Yes I am in the process of finalizing the approvals. If I end up cutting it short I may wait until early next year rather than running myself into the Christmas period of time.

    Any suggestions in terms of how project homes operate?
     
  4. Propertunity

    Propertunity Real Estate Buyers Agent

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    Project homes are volume builders. They build hundreds or thousands of home each year - mostly their own designs (or variations of same). They negotiate good deals with their suppliers and sub-contractors to keep the price down.

    If you want to build a private design, all that is lost, and the cost will be higher per m2.