Details matter: Standard Inclusions
Updated: Aug 2, 2019
You can save money on a new home purchase by asking this one simple question. A common practice amongst new home buyers is not having an in-depth look at what they are really getting when purchasing a new home. Larger builders often use sales gimmicks like 'buy a new home and get 20 to 40 thousand dollars’ worth of extras for a limited time. In general you will find the cost of these items are already built into the price, then offered for free at some highly inflated cost. Many would think ‘it does not matter it is free when I buy the home’, this is incorrect, in one way or another the cost of these items are included and hidden in the home price.
The first item that is nearly always looked at is price and why not, if I am paying less for a house than I would with another builder why wouldn’t I just build with them? The easy answer is builders vary in what they include in a home and adding extras to a house costs a lot more than a builder who includes this as a standard in all homes at the get go. Take a think about electrical items for example, how many power points are allowed for is there one per room when most definitely you'll need two are there any external lights So, the question is do Standard Inclusions, affect me? Surely by now, you are starting to question what am I getting in my home as standard and why can you not just include these products up front? The simple answer is always the easiest, YES, a builder’s standard inclusion for a new home purchaser is more important than the price in most cases, the exception to the rule is if you are planning to buy a home with no changes at all and do them yourself at a later date.
This gets us to the pressing issue, what questions should I be asking and what are you including in the home? I will provide you with some questions that should be asked so you can gauge how much extra you will be paying on this ‘low’ price
1. What is included in the site costs? This is crucial to the cost of your home as if you have a flat block with no major issues then why should your site costs be high? If you have a sloping block that may have rock, then what extra charges will I incur and are you liable for more charges. 2. Do you include floor coverings in your homes as standard? A simple product such as floor coverings you would think are included in all homes, but you would be surprised how many builders leave this out of their pricing. 3. How many coats of paint will I be getting? This affects the finish and longevity of your home internally. Do you have kids or pets that will require touch-ups later? A 3 coat paint specifications saves money down the track. 4. Are eaves included in your homes? Eaves are a small item that are a last thought, but they can save you on your bills making the house more economical long term. 5. What electrical items are standard? This is one of the biggest items and can be a costly exercise. How many power points & lights am I getting? What about tv points and NBN if its required? How about external lights and points what is included? The questions here are limitless so the more the better. Another item that should never be overlooked is product. What products will I be getting in my home? Are the suppliers reputable? Surely all products are the same? The simple answer to this question is NO, all products are not the same and selecting reputable supplier products with larger warranties gives you piece of mind that these products are thoroughly tested and will last a long time in your home and if not you at least have cover through the warranty they stand by. This is another standard inclusion item that goes unnoticed due to the initial price you are receiving, but what are you getting? It is extremely important to know what products you are getting and which supplier they are coming from. The last item is selection. I am purchasing this home at a low price I must get a lot of product selection. The answer is NO, generally, the selection is limited to a few items and to choose another product type is an upgrade once again affecting that low price.
1. What brick am I getting? 2. What is the selection of roof tiles? 3. If I want Colorbond what is the price difference? 4. What type of garage door am I getting? 5. What is the selection of bathroom fittings?
There are hundreds of questions that can be asked about products and selection which form a vital part of your home and build cost.
When purchasing that new dream home remember that price is one thing, but inclusions are another just as important. Take the time to sit down and review price versus inclusions and you will quickly see that sometimes the price is not all it's cracked up to be.