Owning a home has always been one of the primary Australian dreams. It seems like our passion for building and renovating increases more each day. Industry figures show that for renovating and extensions alone, the daily spend around the country exceeds $12 million. That means we are spending about $500,000 per hour, $8,300 per minute or $149 per second. Hard to believe isn’t it?
Even though these astonishing figures are doing wonders for the national economy, at the same time home builders are looking for ways to minimize the cost of their new home. So how and where do we find the solution to building the most cost-effective homes? The answer lies in two words – Owner-Building!
By becoming an Owner-Builder, the property owner can decide to supervise or carry out as much of the construction work as they are able. Regulations pertaining to Owner-Building vary in every state of Australia and prospective Owner-Builders need to educate themselves on all local regulations, as they have to take on all of the statutory requirements for which a registered builder is responsible. The Owner-Builder will be responsible for organizing and controlling all works carried out on the site including occupational health and safety, taxation and arranging mandatory inspections.
More and more property owners are looking to control their own projects. As an Owner-Builder, you will have the opportunity to save money and create wealth, as well as achieve the finish you really want that suits your lifestyle. Building this way will prove to be exciting, whilst the results and cost saving can be extremely satisfying.
The decision to Owner-Build or renovate is being taken more and more seriously by individual home owners these days as they understand the benefits. Some of the advantages of Owner-Building include:
Cost Saving: The amount of money saved will depend on the level of expertise shown by the Owner-Builder. One area of savings that can be made by Owner-Builders is the margin traditionally charged by registered builders on the construction, materials and services provided. The level of savings will depend on their negotiating skills for materials and contracted services and the functions an Owner-Builder can perform themselves.
Increase in value of project: Apart from the monetary savings, Owner-Builders can inject better value into the project. Value can mean a larger home or extension for the same outlay or better fittings and finishing.
Project Control: As the Owner-Builder, you will be in control of your projects; that means you will be the decision-maker from the time you start until the time you finish the project. If you want changes made during the construction process, you can do so and not end up paying a hefty premium as a penalty. This flexibility will allow the decision-making process to be enjoyable and productive.
Wealth Creation: Every dollar not spent paying a builder means more in your pocket as the Owner-Builder. Many Owner-Builders have created wealth as the value of their property escalates compared to the actual construction costs. Prospective buyers are willing to pay more for a carefully constructed dwelling which reflects the value of the property. This feature is maximized by Owner-Building.
At Australian Owner Builders we know that many home owners have completed their projects successfully and have surprised even the greatest skeptics. They have minimized the cost of building and created the lifestyle they wanted.
We hope you can do the same.
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