Turnkey homes have never looked so good in Brisbane real estate. As many have experienced, building or renovating a home is never easy. However, building a home in 2022 is now more difficult than ever before thanks to the rising building costs. This is why turnkey properties are so valuable.
The price of timber has increased by 39%, while steel has increased by 37%. Due to many disruptions throughout the supply chain, thanks to COVID and ongoing global conflict, continued delays and pricing increases isn’t going to change any time soon according to the Master Builders Association (MBA).
Renovation and build timelines have skyrocketed due a number of factors, adding to that the increase in costs, leaves many builders faced with the prospect of being unable to complete jobs at their quoted price and timeframes. This in turn has seen many building companies crumble and clients left with unfinished and unbuilt homes.
According to the MBA, renovations that would have normally taken four months to complete are now taking over eight months, while new builds that were expected to be completed within six months are now taking over 18 months. Renovating and building is no longer the attractive option, that’s where homes like 7a Moss Road come in.
Properties like Moss Road that have been meticulously renovated are the new “it thing” since buyers must now consider the additional build costs and delays in their purchase. Yes, buying a fully renovated or newly built home does come with a premium, you don’t generally get these types of properties at a bargain price but in this market and this construction climate, bargains don’t really exist. Buying an unrenovated home or a block to build on, will cost you more in both time and money, even if the house price is lower, the full cost just isn’t reflected in the purchase price. Whereas buying turnkey like Moss Road, the full price is very clear, you get what you pay for and there aren’t hidden costs that need to be factored in because the hard work has already been done.
So, whether you’re buying or selling, this is an important factor to consider.
Are you selling an unrenovated home? Have you considered what the current construction shortages will mean for you and your sale?
Are you buying an unrenovated property? The same questions need to be asked and answered. Given everything that is going on, turnkey homes must become a part of the consideration.
Brisbane, renovating, building, real estate, buying, selling, turnkey, agent.
