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Thread: How financially risky is it to have a house built in Melbourne?

  1. #1
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    How financially risky is it to have a house built in Melbourne?

    Gene Cafe Coffee Roaster $850 - Free Beans Free Freight
    I asked a relative of mine about those house building companies that offer to put you in a rented place while your house is built and they said that is too risky as people keep seeing stories on A Current Affair or whatever about people losing their money when a house building company goes out of business.

    Is this really the case? Are there no house building companies that are safe in terms of giving your money to them to build a house? Is it much safer to buy a house that's already been built? If there are any "safe" house building companies in Melbourne which ones would they be and do they offer any guarantee or some kind of protection in case they do go out of business?

    Thanks.

  2. #2
    Senior Member trentski's Avatar
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    I reckon you would get better replies on house building forums.
    greenman and chokkidog like this.

  3. #3
    Senior Member chokkidog's Avatar
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    The short answer is .... of course there are good builders!!

    Getting your advice from A Current Negative Scaremongering Opinion will eventually render so paranoid that you will never leave your house for anything. And even then....... staying at home is dangerous too.

    There are hundreds of good builders. Just look around you!

    Stop watching tv if you're easily swayed by BS.

  4. #4
    Senior Member greenman's Avatar
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    Go for a reputable builder with a long-standing reputation and strong finanacial position, a lot of dodgy builders promise the earth but don't deliver a quality product or go into liquidation, then they start up another building company and the cycle continues.

  5. #5
    Senior Member Rocky's Avatar
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    I am always amazed at businesses and private individuals who don't do their due diligence and then end up with a builder who 'goes bankrupt' every few years and then appears again with a shiny new name and proceeds to repeat the performance. I want to know how long they have been in business, inspect the houses they have built and spoken with at least 3 satisfied home-owners.
    greenman, Magic_Matt and pamount like this.



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