Many people dream of designing and building their own home. It is effectively part of the Australian dream and a very rewarding experience. Of course, most people appreciate that building a home takes time and skills that they may not possess. You’ll need to complete an owner/builder’s course first.
That’s why the logical solution is to get a builder to create your home for you. But, before you agree, you need to check out their financial stability.
Why it Matters
If a builder is financially stable they have the funds and the credit rating needed to source your materials, have them delivered, and put them together to create your home.
But, if they aren’t financially secure, they may not be able to get the items they need to finish the build. In a worst-case scenario, you’ll end up with a half-built house and have already paid for the build.
It’s why you’re recommended to pay for any build in stages, ensuring that the work has been done to your satisfaction before payment is released and the next phase started.
After all, if you’ve been saving for years to get a deposit together and need to borrow the funds to pay for the build, you don’t want to lose it all. That’s what can happen when a financially unstable company starts your house build.
Verifying Financial Stability
If you’re ready to commit to a house build then spend a few moments checking the following first:
Being established for a long time doesn’t mean the company is in a good financial position. But, it does increase the likelihood of the business having good credit lines. That will help them get the funds they need to complete existing projects.
As part of this, check their reputation. Businesses, like these dual occupancy builders, with good reputations, are more likely to be able to deliver on their promises.
The first sign that a home builder is having an issue is when you hear a rumour or see a report on the news. At this stage, it is important not to panic. While the rumours may be true, they may also be based on poor facts. You need to speak to the company, check your contract to confirm their official name, and check with the Australian bankruptcy register to see if they have appeared on this.
When undertaking a new build you should be issued insurance by the builder. This will cover you if there are any issues, such as defective work or the business becoming insolvent. Although this won’t stop the builder from going under, it will give you peace of mind as the insurance company will help you either recuperate the money or finish the build.
Sometimes rumours turn out to be nothing. But, in other cases, they are true and you need to take action to protect your build. If you hear rumours about financial instability make sure you know what you need to do according to your build papers and monitor the news closely to see if any further news is released. It will help you to take prompt action if necessary.
Luxury used to be all about flashing big logos and bold statements. But lately, the game’s changed. Quiet luxury is all about subtlety: investing in quality, craftsmanship, and classic pieces that don’t cry out for attention but quietly elevate your space. It’s that feeling you get walking into a room where everything just feels right, without needing […]
Imagine a home that breathes with the breeze, where sunlight filters through lush foliage, and the vibrant hues of nature are an extension of your living space. Tropical houses are architectural marvels; a profound dialogue between human habitation and the natural world, born from centuries of adapting to warm, humid climates. Far from rigid structures, […]
Buying a mini excavator isn’t something you do on a whim. Whether you’re expanding your fleet or picking up your first machine, you need to know it’s the right fit, not just for today’s jobs, but for what you’ll be tackling a year or two down the line. These machines might be smaller than full-size […]
“Dream kitchens don’t just happen — they’re designed with care and style.” Walking into the same old and outdated kitchen in your home? It’s time to change the design and get that wow factor, according to your needs and wise design choices. Seems like a challenging task, right? But let’s be clear here, the kitchen […]
Kerala style homes have courtyards surrounded by rooms on each side. Traditional Kerala-style homes have a central courtyard known as Nadumuttam surrounded by rooms. These homes promote natural light and ventilation according to the region’s climate. These homes, due to the feature of courtyards as their core spaces, offer beautiful opportunities for social gatherings. This […]
When it comes to enhancing the kitchen window over the sink, various design ideas are possible to decorate Indian homes. From rooted in tradition to Western-style modular kitchens offer both functionality and attractive aesthetics. Apart from the sleek profile and raised breakfast counter, the kitchen window over sink is another spot to add appeal and […]
Indian homes place equal importance on pooja room door designs as they do on main door designs. With diverse and unique ethnic backgrounds, every family strives to reflect their personalities and identities in their designs. These identities can encompass religious or spiritual interests, local contexts, or other personal elements. This series of blogs, featuring 50 […]
The door design for main door is a defining feature of any Indian home, embodying both style and cultural significance. In a country rich with diverse architectural traditions, the entrance to your home reflects not only personal taste but also cultural heritage. Whether you’re drawn to the intricate carvings of traditional Indian door designs or […]
Pillar design is a cornerstone of architectural elegance, seamlessly blending structural support with aesthetic appeal. Our blog, “50 Best Pillar Design Inspirations,” celebrates this essential element, showcasing a variety of styles from classical Doric and Ionic to contemporary and avant-garde innovations. Whether you’re an architect, interior designer, or a design enthusiast, these pillar design inspirations […]
The integration of screening evergreen trees serves as an artful blend of practicality and natural beauty. These screening evergreen trees, with their lush foliage and diverse benefits, play a crucial role in enhancing privacy. It also blocks unwanted views, and contributes to the overall well-being of homeowners. From the majestic Jamun trees to the versatile […]