When it comes to property development, your costs are typically one of your top priorities. It’s always about getting the job done in a timely fashion but with the least amount of cost possible. So how do we work against these rising construction costs?
You will learn that it’s best to work together with your builder because if your builder goes broke in the process you will lose more in the long run. Working together will allow everyone to be successful rather than taking a loss.
In this week’s episode, we talk about how you can deal with rising construction costs. We dive into different types of building contracts, why things are taking so long and examples of price cost items. So if the cost of construction is getting in the way of your development project you won’t want to miss this episode!
Episode Highlights:
- How do you deal with rising construction costs? [01:22]
- How can you build in a market where building costs are continuing to rise? [05:24]
- Different types of building contracts [06:08]
- When is the best time to pre-sale? [08:40]
- Why is it taking so long? [11:20]
- Lump sum, fixed price and time [17:08]
- An example of price cost items [17:55]
- What do you do if they don’t hold up to the contract? [21:15]
- Upcoming 3 day workshop [22:30]
- Number one tip to take away [24:57]
- Get on top of cost [28:20]
- Investment opportunities [29:15]
Resources:
- To contact us about our investment opportunity, please email admin@propertymastermind.com.au or phone 1300 729 550
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- Every week, Hilary is inclined to give away a free coaching session. Feel free to send her an email at hilary@propertymastermind.com.au
- If you liked this episode, or have any comments and/or suggestions on how we can make this better, don’t hesitate to send us an email. For questions/things you’d like us to cover and discuss in this podcast, again, you can send an email at hilary@propertymastermind.com.au
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It has been a pleasure and we look forward to seeing you in the future episodes!
