When looking to buy a new home, you will likely find a wide range of options available from builders and real estate agents. On your search, you may come across the terms 'fixed price' and 'turn-key'. So what do they mean?
Turn-key, what does it mean?
To put it simply, turn-key means that once your new home is completed, you can turn the key and start living. The build price will include everything a home should have including landscaping, fencing, window coverings and a driveway.
When purchasing a new turn-key home, the builder will provide you with a full list of inclusions for that package. You should read over the inclusions closely to ensure your new home includes everything you need.
Your turn-key home should include:
- Landscaping and letterbox
- Driveway & paths
- Window coverings
- Fly Screens or Security Screens
- Air Conditioning
- Kitchen appliances + dishwasher
- Bedroom fans
- Flooring throughout the home
With a turn-key home, you will feel confident knowing that you won't be left without a driveway, landscaping or other items that may cost you thousands to add to your new home.
When a home is not turn-key...
Many builders will advertise new home packages that are not turn-key. This can be appealing to buyers as cheaper house package may be enticing, however you must understand exactly what's included in your new home.
This is an example of how it may be advertised...
Let's be honest, this is a pretty enticing offer. The house looks great, the price is amazing... But how does the fine print look?
The fine print might read something like this...
* Please note that the photographs may depict finishes, features and fixtures that are not supplied by the builder such as landscaping, driveways, appliances, paving, fencing, retaining walls etc. For detailed pricing please contact us.
If your home is not ‘turn-key’ then you may be left with thousands of dollars of additional costs needed to complete your home. Alternatively, the price may shock you when the builder adds on the extra inclusions.
All of the new home packages we offer are full turn-key and come with quality inclusions. This allows you to move in and enjoy your new home to the full.
Fixed price, what does it mean?
A fixed price contract simply means that the builder and client agree to a set price for contracted services at the onset of a project. To put it simply... the purchase price for your new home will include everything included in your contract.
As the buyer you'll feel more confident with a fixed price contract as it ensures that you're not hit with any unexpected build or site costs that may occur during construction. So if unexpected costs do arise during construction, the builder will need to cover these costs.
All of our home packages come with fixed price contracts so you can have peace of mind when building your new home with us.
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