Building a Home

The end of the credit boom has meant that easy money from banks to cover cost overruns and building time delays are over. Those who have ignored this have often found themselves in difficulty and needing to find additional cash.

It’s important that we learn lessons from these times.

People who are building a new home often worry about costs blowing out and delays affecting when they can move in. 

A common problem is people over-extending themselves, thinking that their home will be worth more once it is completed and the bank will simply lend more. This is not always the case as, while the house may be worth more, the bank may not necessarily lend more due to the borrowers’ income levels.

So it’s important to live within your means, particularly when building a new home.

Another issue is consumers getting caught with additional costs or surprise extras and blowing out the original price. It is important to know what the overall price of a house is – including how much for extras such as kitchen taps, landscaping and the letter box.

For many people their home will be their biggest asset and it is important from day one that all costs are transparent and talked about so your new home doesn’t become a financial burden.

Generation Homes mitigates many risks for home builders. The company pledges a fixed price, no provisional cost sums and a 14-week guaranteed delivery date as part of its approach to building homes.

The Generation Homes team meticulously follows building quality controls to ensure a safe, comfortable and weather-tight Generation Home.

Building a Generation Home is not just about meeting the industry benchmarks – it is about helping customers achieve their dream come true in a stress-free way.

So no matter what consumer trends are to the fore, Generation Homes provides peace of mind and certainty on price and delivery.

Market Update

A sign that the housing market is picking up is the significant increase in inquiries experienced by Generation Homes Auckland, Hamilton and Tauranga in recent weeks.

For instance, 70 groups visited the new show home at Millwater in Rodney at the end of April and another 40 groups attended the following weekend.

Commentators have long forecast that the economic turnaround will be driven by what happens in Auckland and larger cities, while provincial centres will follow further down the track.

Presently, people in provincial centres are still hesitant about the housing market, indicating that the weaker economic conditions continue to bite there.
But real estate agents are reporting improved prospects in the larger centres, even though new building statistics are still in the doldrums.

The increase in customer inquiries being experienced now will eventually lead to an improvement in the number of new building consents issued as people decide what they want to do and follow that with the process of applying for council permission.

Many elements are combining to create a positive environment for home buyers. Mortgage rates are very low, house prices have bottomed out, vendors are becoming more realistic and unemployment figures are improving so people’s jobs don’t appear to be at risk as much as in the past.

Springtime should see building commence on many new homes as people’s present dreams are converted into reality.