Heise Says
#Construction #Housing #HeiseSays
Bust builders are abandoning half-finished homes and projects.
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There are a few unfinished/abandoned townhouse projects around my suburb (Melbourne’s west). Every time I see them I think of the poor buyers and wonder how much they have lost.
It's a builder fault for being dodgy and taking the money knowing that they had no intention of finishing the project… The poor home buyer is the victim… The problem is these contracts are written by the builder and not the buyer
I'm extending my house right now and there is NO way the bank will release progress payments until I approve completed work at at each stage within our building contract. This was the same for the last two houses I built over the past 15 years. Banks generally scrutinize contracts to ensure none of this nonsense happens.
Absolutely, it is their fault.
Yep you are to harsh,because people can be to trusting!
I have been a project manager for 20 years. No matter what sob story the builder tells you, NEVER NEVER NEVER pay for work not done. Rather he goes bankrupt and you can still get another builder because you have only paid for the work that was done.
16 years to save another deposit.
I am back in Australia..I am driving the truck and I realise that the traffic is so bad, the cost of transport , so inefficient that inflation is definitely related to the excess population to infrastructure. If they raise rates to compensate for inflation then we will see a bust .
Sounds harsh but it is true. Dont pay up front for anything.
I'm sick and tired of idiots doing stupid things then demanding the government enact laws to protect them from their own stupidity.
Whilst this bloke may be at fault and many stories of bodgy builders of which there seems to be heaps that highlight customer error erodes confidence in the industry generally.More focus should be given to construction faults and compliance/governance issues.
How do you go broke if you dont pay your subbies and you are paid more than your progress payments. Police xhould invesitigate.
I have been a builder all my life and had never been out of work . My Clients liked me at first sight because I had an old small truck that was always kept in good used condition . My tool boxes were organized and bought my own plant and machinery . I met all my appointments and had all my Sub Contractors do the same . This is what is called a "Reputation" and that you cant buy . I also was not the cheapest nor was I the dearest .
I need a builder to build a new laundry. Brick up the sliding door with new window. New cabinets and painting. 2264 silverwater nsw
Starting to look like Asia
You are a tough cookie Heise
Unfortunately It's a risk that a buyer takes in having a property built. I feel particularly bad for workers that have not been paid.
And the disappearing act of the builder who went bust, he can simply Phoenix himself and potentially restart under a new banner and continue to mismanage his building activity to more innocent prey 🤭
Heise . The QBCC is in turmoil . The QLD government has announced an inquiry into what is going on . There must be a story there .
This will become very common now that rates are going up and cost of materials is skyrocketing!
Great content great awareness 👍
Is there any insurance against this type of thing ?
It is said more builders go broke in a boom than a recession.
Insurance on a build should be compulsory maybe 🤔
Earthship!
Building people’s homes are incredibly challenging
Particularly if they have had a architect design them.
(very hard to estimate all the detail)
The problem starts with underpricing and time.
When you get this wrong you need another job to pay for your mistakes on the first house
This snow balls and before you know it
your in a “Ponzi scheme “
A lot of builders aren’t Great at business either
-Do your research
-Don’t choose the cheapest builder
-And choose someone who does less jobs at one time
Holden haircut hegemony
Moral of the story be an arsehole. Being good to people gets you nowhere
Don’t trust anyone not even yourself.