The progress has been slow with hold ups by various trades, however am very happy with the quality of the build, I think its a very good product. Would I change anything?? yes, use a different draftsperson.
Slab was poured on 21 May 2014, was told it will take 5 months for completion from this date.
We are now approaching Xmas, I think the trades have their break mid Dec, I have no hope in hell of achieving lock up prior to this break, realistically it will be completed mid-end January, build time 8 months, over run of 3 months.
Have been told this is common at the moment.
That's around $15,000 additional holding costs.
For those looking at developing something like this would not make any sense in current market, tack on an additional $150K for land. Building costs have also increased. I paid $579,000 for build +52,000 headworks, etc. approx. average size of my villas 150 sqm, and I have high spec villas.
Apparently my builders costings for bog basic 3x2 villas on 728 sqm block for example in Balga, possibly 140 sqm villas will be $585,000 no fruit ie (high ceilings, stone bench tops, overhead cupboards kitchen/laundry, quality tiling, full length tiling, mirrored robes, skirting, jazz cornices etc etc), lots of stuff not included such as fencing, and tack on head works
Rents have dropped off, but from recent research am still expecting $500 pw due to location and new product, still not sure how many I will sell/hold, meeting my accountant end Dec.
I will take some photos closer to lock up.
MTR