HIRING THE RIGHT BUILDER FOR PROPERTY DEVELOPMENTS
As your business has expanded so too your priorities when it comes to hiring the right builder who fits the mould for your upcoming property developments.
The need to choose the right builder for developments is a very important feat because he will tick all the important boxes that will ultimately bring your project to life.
You want your property development to be finished on time with a superior quality finish so that customers who purchase the properties whether residential or retail can continue to buy off your future developments. It is a win, win situation for both parties involved.
A property developer’s worst nightmare is to choose a builder who goes broke halfway through the project and leaves it unfinished. Having to re-‐coup the money and hire another builder blows the costs out of the water so making the right choice at the beginning is imperative.
TIME IS MONEY WHEN IT COMES TO DEVELOPMENT PROJECTS
You want to be able to have a builder who works on the same level as your requirements so the project is seamless, exciting and is completed in stages where pre-‐sales have been achieved. You are entering into a long-‐term relationship so from day one they need to share the same vision for your project.
A builder who comes in cheap to build your development is inviting and the potential money you can make on your development could lure you in but if they genuinely do not have the expertise and the motivation to deliver the project then in the long run they should never be considered.
Having that rapport and open communication where queries are responded to quickly and easily will lead to a successfully completed project.
Long term your development in the hands of the wrong builder could cost you thousands of dollars in variation extras and the defect list for rectification could be a mile long. Cutting corners and compromising the quality of the project in the end could potentially cost you in sales. Interest compounds with lenders and the longer your builder takes to fix the problems the more you are left to “bleed”.
GETTING THE MOST BANG FOR YOUR BUCK
Having a builder who is trustworthy will help you with your architectural plans and will be able to review them and have input.
- They will be able to tell you how many apartments or townhouses they can fit on the development site.
- What size each one needs to be and how to actually develop the block to get the most profit for the money you actually put in to develop it.
- They will have connections with councils to get planning approval and be able to talk the language to help get that approval for the block.
- They will work with the architects to get the most out of the project and in turn help get the approval over the line.
- They will look after your bottom line because if you make money then there will be more work in the future. Repeat business and having the opportunity to work with the same developer and having 3-‐5 projects lined up in the foreseeable future is the ultimate goal.
HELPING TO MINIMISE RISK AND SEALING IT WITH A CONTRACT
At the end of the day when all open communication has explored every avenue to maximize the potential growth of the development then all that work and collaboration needs to be placed in a carefully constructed contract and this is where your lawyer comes into play.
The most suitable builder for your development will have left no stone unturned in his quote. Details like driveways, landscaping and fencing, hot water and gas supply, does the site need to be remediated before building commences are imperative and surveys need to be conducted to ensure there are no further impeding risks that could arise once building begins.
Having a fixed price contract where every detail and material is outlined and clearly clarified with costs is the best way to move forward.
INSURANCES NEED TO BE UP-‐TO-‐DATE
What you do not need is a builder going bankrupt in the middle of your property development project and finding yourself left hung out to dry.
It is very important for your builder to have insurances for public liability, against any material theft during the project as well as insolvency.
If your builder does go bankrupt you want to make sure that you will be paid out so that you can complete the development. The aim is to finish and reap the rewards.
TICK ALL THE BOXES EQUALS ENGAGING THE RIGHT BUILDER
Makka Constructions have a proven track record for more than 25 years of delivering projects on-‐time with superior quality finishes. Our property development and project management services with fixed price contracts are backed when our clients talk about us. Our prices are competitive and we continue to be passionate and live and breathe by our motto that we can “exceed expectations every time”.
