When you decide on building your home, the biggest challenge you might face will be in finding a reliable builder. Given that real estate is a billion dollar industry, you will come across many shady builders who might try to scam you off your hard earned money. To ensure that you only hire a trustworthy builder to handle your construction project, follow the tips below.
Financial History
One of the first things to check is the financial history of the builder. If their accounts are publicly available, check them to make sure that the builder has never faced any liquidity crisis during their career and have been making profits consistently. And in case you find a history of bankruptcy, then that is a definite signal not be involved with the builder. All the partners and directors of the building company should also be cross-checked to make sure that they have not been involved in any other construction projects that ended in bankruptcy and loss for their clients.
License
Make sure to check the license of the builder. Even though this might sound something very basic, it is remarkable that many people are still too naïve when hiring a builder and never check whether they have the necessary government licenses or not. As a result, people end up losing money by dealing with such unlicensed builders. Ideally, the builder must have the necessary licenses as mandated by the states. Check out this page to see if a builder you are interested in is licensed or not. And in case the builder is not too forthcoming regarding their license, never deal with them.
Clients Serviced
Look at how many clients the builder has serviced over their lifetime. Did they meet the client expectations or did they end up disappointing the clients? Make sure to research the builder’s client history and specifically look for instances where there have been any disputes between the builder and clients regarding completion of a construction. If you see too many instances where the builder seems to never have delivered a project as promised, then you should avoid dealing with such a builder no matter how attractive a proposal they might offer.
Insurance
Every builder is mandated to issue you a Certificate of Currency for Home Indemnity Insurance. Only when you receive this certificate should you ever transfer a single penny to the builder. This certificate offers you financial protection. As such, if the builder were to unfortunately die, or becomes insolvent while in the middle of the project, or chooses to run away with your money, then the insurance will cover you and pay whatever money you have lost.
Maintenance
Most builders offer you free maintenance of the property for a specific period of time. Within this period, if the home were to face any issues that arise due to fault in the construction, the builder will take care of it and resolve the problem. Usually, this maintenance period covers about six months from completion of the home. Some builders might also offer a longer maintenance period. And if you come across a builder who does not offer you maintenance for the initial few months, then it is recommended that you search for other builders who do provide this feature.
Project Involvement
You also need to check whether the builder will be involved with other projects while handling your construction. And if so, how many projects will they be simultaneously handling. If the builder takes up too many projects at once, then there is a risk that they might not be able to give their full attention to these projects. As such, your construction project can suffer due to the poor involvement of the builder. So, always choose a builder who can give their 100% to your project.
Local Builder
As far as possible, stick with a builder who works locally. Sure, you can go ahead and hire an out-of-state builder to handle your construction. But this comes at a disadvantage that the builder might not be too interested in traveling great distances to manage your construction personally. As such, they might hire sub-contractors to handle your construction. And this can lead to several communication problems which can later affect the quality of construction. This is why a local builder with a good reputation is recommended over a builder from far away locations.
And if you are unable to find a trusted builder on your own, we suggest you take a look at http://www.novushomes.com.au/home-designs/upside-down-living-home-designs-plans. With many years of experience, they offer a wide range of two storey home designs that might meet your requirements.