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CASE STUDY
For Tim and Michelle Hayes, property development had always been their dream and with everyone seeming to make an easy profit this way, the young professional couple were convinced that all they had to do was buy a section, hire a full contract house builder and then sell privately to make a profit.
Unfortunately, the reality was not so simple! While they quickly found a good site in an optimum location, they had to pay a premium price for the land. They also realised that the section had several issues which needed to be addressed – such as its long and narrow shape, its shared access with two neighbouring properties and its non-north-facing direction - but this describes over half of all residential sites these days and they were confident that with a competent house builder, all problems would be resolved. The real problems started when they began searching for a full contract house builder. While they obtained quotes from several building companies, all were horrifically in excess of what they had budgeted – they would need to sell at 10-15% above market price and/or receive a similar discount on the building cost, just to recover their investment. In desperation, Tim and Michelle searched for a builder who could understand their situation and be willing to discuss their options. Keola Homes specialises in providing design and property development for challenging residential building sites and their comprehensive service means that they offer solutions which not only meet the client’s requirements and budget but also maximise the site’s potential. For Tim and Michelle, meeting with Keola’s designers meant that finally, there was a light at the end of the tunnel! One of the previous house building companies had – with no forewarning - charged Tim and Michelle for preliminary discussions and a schematic design and, despite the substantial excavation and retaining walls involved, the couple were satisfied with the overall layout so it was decided to modify and proceed with the existing house design. However, Keola advised some changes in order to achieve a house with that “extra edge”, particularly important when marketing and selling a property. Thus, recommendations included a granite kitchen benchtop kitchen, a central vacuuming system, a fully automated alarm, stainless steel appliances and ample outdoor living areas, as well as enlargement of the windows for additional brightness and conversion of some large windows into ‘ranch sliders’ opening out into an outdoor patio. Unlike most other building companies which would only provide these items as “upgrades” at additional cost, Keola offers such modifications within their standard specification. Furthermore, the power, water, gas and other services were relocated at no extra cost. The end result was an immaculately presented home within the budget that Tim and Michelle had allowed – and the house was sold barely a month after the initial marketing campaign. Keola’s expertise, commitment to service and flexibility enabled Tim and Michelle to realise their dream and walk away smiling! Points to consider when purchasing a site for building:
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