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January 16, 2013 - 8:38 am

Old post.

[veseliMember@veseliJoin Date: 2011Post Count: 33]

December 27, 2012 - 10:16 am

Contact me on [email protected]

[veseliMember@veseliJoin Date: 2011Post Count: 33]

September 24, 2012 - 1:52 am

First you need an Architect, then Engineer and then Approval from Council before you deal with the builder.

As the slab is already laid it is most likely that no engineer will sign off on it, and that you will have to demolish it and start again, or it might not comply with your DCP rules.

Once you have the approval then contact the builder to give you a price to complete, once you are happy with the quote and want to sign the contract then you ask for insurances, references, licence number and so on.

Contract will be prepared by a Builder and should include Schedule of Progress payments.

Good luck.

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April 24, 2012 - 2:20 pm

Cintaku i like your taste.

However that taste is very risky in Australia, and you wouldn't be able to do that in any street,  i have done some research over the years and this would only work in rising market and in the best streets in the city, ocean fronts and such, if you do that in ordinary street you would most likely overcapitalise your house and loose money. Property valuer will slash down your value if he cant find similar sale in the area.

I sell fully renovated houses, and i find that its harder to sell fully renovated house like brand new, then old fibro cottage.

Expensive and big houses are hard to build, hard to get it approved, costly to build and very often you will blow the budget, hard to sell with very limited market, Economy and market risks, finance risks, will take much longer to build, too many risks.

Every project would need some solid research.

I love big houses, i always lived in a big house, my house has 6 bedrooms and we only use 2 of them

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April 22, 2012 - 10:28 am

Why cant you borrow against existing house and buy another 1 for renovation, get another personal loan to fund for reno and repayments and you will be fine, the quicker you renovate the sooner you will get out of debt, in first 2 properties it will be hard but once you build some profit it will be easier.

If you sell your current property you will have to move out, then go on rent, then you have to find block of land, get is approved and build it, it will probably take up to 12 months for the whole process, then you move in for 6 months and sell again. Not a pleasant life, specially if you have kids.

Plus there is not much profit in new homes, specially after you live in it,  it will sell as second hand property.

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April 22, 2012 - 9:24 am

There is a confusion here between builder and an owner builder,  If Ashley gets builders license he needs to open up a company name, have the license in company name and trade under the company and he wont be considered as an owner builder, more like speck builder.

If he wants to build his own PPOR then it will be considered as an owner builder, in this case you save few thousand for not paying Home warranty insurance, but yes it will be hard to get finances, not hard if you have 30% of your own money.

Ashley my advice, forget new homes do renovations, more money, less work and less stress.

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October 17, 2011 - 9:43 am

No wisepearl, if there was no deaths you don't have to disclose anything to the new purchaser.
If there was death or was a crime scene before it must be disclosed by Agents if they are aware of it.
However the law is very funny sometimes and leaves so many unanswered questions.

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October 15, 2011 - 9:45 pm

Jamie i disagree

I'm not looking for any loop holes, all i wanted is right information so i know if i should buy this property or not.
I don't want to buy the property and then be stuck with it. Deaths and accidents happen everyday, and how do you know that the house you are living in hasn't been a crime scene before?

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October 14, 2011 - 10:23 pm

Thanks Scott,

Yes i am aware that law exist for stigmatized properties, but its unclear as how long this lasts on the property, i mean it cant be 100yrs
Fair Trading has an article about this but all they talk about is Agents and licenced practisioners, no where they said how long this should be mentioned to the new buyers, and also they haven't mentioned private sale. I understand Agents can be fined and loose licence, but what if i sell it privately and don't disclose it, that Act is for Agents only.

I read Property Stock & Business Agents Act NSW). and all they said that it must be disclosed to the buyers, again there is no mention about how many years after the death occurred, or if it makes a difference if its private sale.

Any thoughts on this…

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September 19, 2011 - 8:29 am

Rendering is more expensive then face bricks, so he is not cutting costs. It Costs more, maintenance fees are higher over the years, but it looks better and you get better thermal mass. If its the modern European look that you are after then go for it.

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September 14, 2011 - 11:28 am

Most Councils will not allow pump-out-systems in NSW.

If your block is sloping towards the back then forget subdivision or court unless you can negotiate with the neighbors for the easement, and you cant force anyone to let you go through their property, you can only pay them.

Problem is not in 100ye, problem is for everyday storm water which can not go uphill to drain into the street gutter.

Basic rule is you never buy development block if its sloping away from the street, its a night mare.

I have seen cases where developers are paying between 50-100k to neighbours to get the easement in place.

Good luck.

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September 12, 2011 - 9:14 am

Advertising will not help you get work, who ever is choosing builder he wants recommendation.
Once you find a potential client, most likely they will want to visit your completed properties, they want experienced builders, cheap quotes and quality work.

It is very difficult out there, my suggestion is, go and get a job as Site Foreman for big building company and get really good experience and knowledge. After 6-7 years you can start your own thing, but don't do it now, you will regret it.

I work with architectural companies, i give them work, and they recommend me as well.

I hardly get any phone calls from advertising, and even if i do, probably someone just needs extra quote to compare.

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September 11, 2011 - 11:32 am

My experience is over the years there was times when i had paid more GST then collected, and i was NEVER able to 'hold on' to GST. As i explained in my previos post, Gov. gives maximum $2,000 which you cant hold, you can only deduct it next time you make profit.

This is just my experience, you better talk with an accountant.

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September 10, 2011 - 12:29 pm

Jazz77 in NSW is different, a builder MUST have a company licence if trading under the company, i nearly got fine $1,500 from Fair Trading back when i just started for not having company licence.

I don't know how he gets away from it, but i can only see one way out, he closes down the company and company doesn't exist any more, and Home Warranty pays for repairs.

I don't think Home Warranty insurers have the power to recover money from builders personal assets if his company doesn't exist any more. That's probably why its so hard to get Home warranty insurance.

And thats probably what he does.

Any other thoughts..

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September 10, 2011 - 11:29 am

mark76

I think that is not possible, Builder is the one that will claim back GST on expenses, and ATO doesn't pay GST twice.

It works like this;

-You collect GST when you get paid (you wont make income, thats the problem)
-You pay back GST on your profit

If you go in minus in that financial year, like what you are saying you will do with your company, Government will not pay you GST to hold it, you can only claim i think 2000$ which will be reduced next time when you actually make profit, so instead of giving back 8,000 gst you will only have to pay 6,000 in the next financial year.

Companies don't 'hold on' to GST, you only take it from private entity, and give it back to Gov.

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September 10, 2011 - 10:16 am

younan21

My advise, forget banks, and forget building duplex. There are many builders out there with big pocket, and many of them are not doing it, because they cant make money on it, unless you own the land which you purchased 6-7 years ago. At this stage land is very expensive, construction costs are high, and there is too much risk, and too much work for very small profit.

Go and do private jobs, start off with extensions and work yourself up, thats how you do it.

First you crawl than walk then you run.

I'm a builder too, thats my advise, I've been through it all.

 

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September 6, 2011 - 1:20 pm

My apology to DWolfe and Jamie M,

No hard feelings guys, i didnt mean anything bad, i just didn't use the right verbs.

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September 5, 2011 - 12:50 pm

Wombat clearly stated that his property is 300k, so giving him poor advices will send him bankrupt very soon.
I would just add that no house in Australia is the same, and no area is the same, so you really have to do your research, what to change and how much to spend.

Advices like 'go to bunnings and buy some paint and flat pack kitchen and make 50k' dont work for every house.

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September 4, 2011 - 8:09 am

I really don't think you will make much profit if you spend 10k on your house.
Wombat you are right, good kitchen with stone and appliances will cost you 12k. If you start using flat pack kitchens, and painting yourself even though you never did it before, you are wasting your time and money.

My tip.
Buy cheapest house in the best area, and spend at least 50k and you will make 100k back.

I've just finished one reno, i spent 73k and i made 120k profit.

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September 3, 2011 - 12:42 am

The reason i asked about builder's liability is i know one builder, who does shocking works, and he is been doing it for many many years now, and some of the jobs that he did were repaired by Home warranty insurances under 6 yrs, and not by him, so i dont know how he gets away with it, and still continues to do so, thats why i thought he probably changes company and builder's licence every 2-3 years.

See the thing is you take builder's licence under company name, its not your personal licence, thats why i think he can get away with it.