New house build, to start or not? We knocked it down end Feb

New builder 2020

3 years ago

last modified: 3 years ago

Hi! After 3 years bureaucratic hold up in council we got approval for our new build, a great builder, built many of friends houses, banks are very weary of us starting during pandemic. It seems building industry is chugging on but I have relatives in commercial building who says companies are prepared to shut down at any time. We have the land sitting empty and are in another too small house with 2 kids. It is a big decision and I would like instructive feedback from trade professionals working now. I wonder if suppliers will have issues supplying or trades or certifications...such a big decision. Thanks in advance

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PRO

Sanctum Design

3 years ago

Hi there - if you have good access to funds and 100% job security there has never been a better time to build, particularly if you use Provisional Sums to access the advantages of a suppressed market (i.e. more competitive pricing). Your tendering process and contract conditions should capitalize on the benefits of good competition, and your contract should also cover conditions relating to potential shutdowns from Government enforced restrictions ("Force Majeur"). As the curve is flattening, a full shutdown is less likely - as far as materials are concerned, only specify/use what is currently available in stock. Hope that helps!

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