Home Building Tips Sydney- 6 Ways to Play it Safe

Planning on building in Sydney?

The risks associated with building your own home can be life-changing, and not in a good way. Both Sydney homeowners and builders have responsibilities to ensure the process goes smoothly, but it’s important to know what these are before signing off on a building contract. Here are six ways to manage the risks and play it safe.

1. First, understand the risks

The first step in avoiding the risks of home building or completing renovations is to understand what they are. One of the most critical risks involves the health and safety of all the trades and tradies engaged with the project.

Make sure you have a detailed list of all the contracts needed to complete the project, and the key contacts, and know how to organise them all, so everyone turns up at the right time to do what needs to be done.

Having electricians, plumbers, painters, and builders turn up too early or too late can be costly to the project, but early planning will help you streamline the project.

2. Protect yourself with insurance

Insurance is a necessary part of every home construction which can protect all parties concerned with the project. Building companies can go under at a moment’s notice, sometimes just minutes after you have injected tens of thousands of deposit dollars thinking you are keeping the ball rolling.

In most cases, without insurance, the deposit money is irretrievably lost.

3. Do your due diligence on the Sydney builder

Even if you have an ironclad contract, you still shouldn’t hand over hundreds of thousands of dollars to a Sydney builder you don’t know. You should research the builder and find out if they hold the relevant NSW licensing and registration. You will further reduce your risk level by not handing over excessive deposit amounts for work that hasn’t yet been completed, or resources not yet delivered

4. Minimise risks

Reduce your exposure to risk by keeping yourself up-to-date with the state of the project. Produce and maintain checklists, meet with contractors such as painters and builders, and check on-site to ensure progress is on track.

5. Stick to the plan

Once plans have been made, and construction is underway it’s understandably difficult, if not impossible, to change direction part-way through, at least without incurring significant extra costs.

However, some have leeway with upgrades, but you need to prepare yourself. Ask your Sydney builder the following questions:

  • How much does the average Sydney home builder spend on upgrades?
  • Are there any additional closing costs and if so how much?
  • What do you get for the base price?

6. Engage a Sydney construction estimator

Engaging a Sydney construction cost estimator not only helps in managing immediate expenses but also aids in long-term financial planning. By accurately forecasting building material and labour costs, you can make informed decisions about materials, energy-efficient upgrades, and sustainable construction practices. While these options may have a higher upfront cost, they often result in significant savings over the lifespan of your home through reduced utility bills and maintenance expenses. A skilled Sydney building cost estimator can provide insights into which investments will yield the highest returns, both in terms of comfort and resale value, ensuring that your home remains a wise financial asset for years to come.

Ready to speak to a Sydney construction cost estimator?

Sydney construction cost estimators like Newin Building Estimating Services remove much of the hassle and uncertainty of new home builds, creating an excellent resource for overcoming the current spate of challenges. By using professional connections in the building industry and drawing on their decades of experience, Newin can help new home builders more accurately estimate building costs and ensure their project remains on schedule. Call today to find out more.

 

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