Multi-Unit Development: What To Ask Your Builder?

You’ve decided you’re ready to step up your property game and delve into multi-unit developments, but where do you start?

Building multi-unit developments is not like your typical residential home build where you are likely building the house you will live in or even an investment property build.

No, a multi-unit development of this magnitude is a completely different ball game with many more variables involved.

There will be a lot more time commitment from your end, not to mention your financial commitment, so you want to ensure that at the end of the project, you have a product that is on time, on spec and hasn’t blown your budget.

So when you set out on your mission to become a multi-unit property developer, you want to be sure that you have a strong group of people working with you to support your end goal.

One of the key stakeholders who will be involved in your development is your builder. You need a reputable home builder who understands multi-unit development to assist you along the way.

In this article, we go through a series of considerations you must ask your builder so your multi-unit development goes off without a hitch and your end product meets your investment goals.

The Builder’s Portfolio

Knowing what your builder has to offer regarding their previous work will be important for you to know.

What work they have done in the past will make it easier to understand whether it will be the right fit for your project.

If the builder’s portfolio aligns with the style and direction you seek, you’ve picked a potential winner.

It’s best to make sure that you research the style of multi-unit development you are looking for and also dig a little deeper to see whether other things like project scale, budget and building materials the builder has used on their previous work lines up with your development requirements.

When shopping around for the right builder, that is the time to ask plenty of questions, paying particular attention to the things that matter to you. While a photo or a flashy website may help you visualise the style, it’s critical to ask as many questions as you can upfront and, if possible, even request to be taken for a walk-through or curbside visit of the builder’s previous works. 

What’s the Builder Like to Work With?

Once you’ve decided you like the builder’s work, you want to know if they will be the right fit to work with.

Remember that building a multi-unit development is not the same as a regular house, and it will require a lot more from your end to manage the process and stay in control so that you get the result you’re looking for.

Multi-unit developments are multi-layered and complex, often requiring multiple people along the way to be involved. From the sales staff, tradespeople, designers and then the builders themselves, you’ll be speaking to many people regularly.

So when looking for your potential builder, ensure you understand first if they are the right people to work with. Do they follow up on your requests, answer your calls and do what they say they will do? If they display these traits early on in the piece, then it’s likely that they will be a good operator throughout the building process.

Also, take the time to ask the builders about who they work within their supply chain and try to ascertain whether their relationships will work in your best interests. If you have any doubts, talk with your builder to see what other solutions might be available.

Remember, this is your project, and one glitch could impact your project and your bottom line, so make sure you work with the right people for you.

Is the Builder Registered and Insured?

It might seem glaringly obvious, but sometimes it can be overlooked. You might be so taken in by the bells and whistles of some multi-unit builders that you overlook critically important points - like whether they have insurance and are registered builders.

Don’t make the mistake of forgetting to look into this. Make it your priority when doing initial searches to see if the builder is affiliated with such bodies as the Master Builders Association.

Going through an approved builder will give you assurance and peace of mind, but you will end up with a building at the end of it all that meets building requirements and that the builder is more likely to complete your project to a specific standard.

That means you are less likely to hit any speed bumps later on.

Additionally, check whether the builder has the relevant public liability and construction insurance to complete the project.

When you make initial contact with the builder, ask these questions during your conversation. A good builder will always be forthcoming with this information, so you can form your opinion on whether they are right for your project.

Food for Thought

A multi-unit development can be a lucrative investment opportunity if done right, so it’s important to make sure your builder works well with you and can help you maximise your return at the end of the project.

Given the demand for property in Melbourne, a multi-unit development has a lot of advantages as an investment, but it also means that competition for aspiring property developers is fierce.

Ready To Start Your Multi-unit Development Project?

There are many things to consider before starting your multi-unit development project, but the main take-home points are to check they have the right skills, align with your specific needs, have insurance, and have your interests at heart.

A multi-unit development is not easy, but you don’t need to do it alone. First, research and equip yourself with as much information as possible. Then come and talk to us!

When you’re ready to start the conversation, at Jem Homes, we’re experts at custom home building in Melbourne. Ask us how we can help you build the home of your dreams!