Time From Settlement to Build - Advice

Discussion in 'The Buying & Selling Process' started by randomhero24, 17th Jan, 2018.

Join Australia's most dynamic and respected property investment community
  1. randomhero24

    randomhero24 Member

    Joined:
    20th Nov, 2017
    Posts:
    7
    Location:
    Melbourne
    Apologies if this thread exists elsewhere. I am wondering, in most of your experiences how long before the slab goes down after Land Settlement. I understand the builder conducts soil testing etc. I think they told us up to 60 days once but would like to hear your experiences.

    Not sure If I am allowed to use our builders name here..?
     
  2. Big Will

    Big Will Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,517
    Location:
    Melbourne, Australia
    Depends on what the builder says. If they have 20 jobs booked in already then maybe you are 60 days.

    My brother in law just finished building their house and it was built in about 3 months from land being titled.
     
  3. Colin Rice

    Colin Rice Mortgage Broker Business Member

    Joined:
    9th Jul, 2015
    Posts:
    3,183
    Location:
    Perth
    Really depends on the process and how far you and the builder have gone into it.

    Has the building contract been finalised and sent to bank for valuation along with the land?

    All going well can be within 6 weeks.
     
  4. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
    23,319
    Location:
    Sydney
    How long is a piece of string ?

    Land settles. Five years later you approach a builder who mucks around and is slow with council. And lender and finally approvals all occur...Could be years. Or months. Council can be a factor. Some councils are slow to approve builds.
     
  5. Westminster

    Westminster Tigress at Tiger Developments Business Member

    Joined:
    3rd Jun, 2015
    Posts:
    11,331
    Location:
    Perth
    Providing everything has been finalised and you have
    - done prestart
    - have your HIA contract
    - have finance sorted for the construction

    Your HIA contract should outline most timelines. You have xx days to have finance approved for construction loan (if not bundled with land loan), then they have xx days to get building permit then xx days to get to site