The True Cost of Delaying YOUR New Home Build!

The cost to procrastinating and not acting in the right time, potential delays on starting your home or being in your home when you first decide. Every day in the building industry is weeks in the real world. Because you're delaying to take those steps forward can dramatically impact your overall build. So many elements change rapidly all the time. Hey guys, welcome to the Builder's Edge. I'm Norm Wales from Norm Wales Constructions. Now, for me, the whole purpose of this podcast here is to bring a little bit more awareness around the construction industry. I've been feeling for many, many years that there's not enough helpful information out there to support you guys to make the right choice. Now, we are a smaller family independent building company and we're not here to build everybody's home. But we would definitely love to be able to work with you to facilitate your dream home. But if we don't build your new home, we want you to be able to make the right decision in choosing the right builder for you. So hopefully the information that I'm able to provide through this podcast can be informative and helpful that you can now create your dream home. So I hope you enjoyed and thanks for watching.

Norm. In this episode, I want to talk about the, the, the true cost of procrastination when it comes to building your forever home or your next home. What, what would you say are some of the effects of procrastinating when it comes to building your, your, your forever home?

Yeah, unfortunately, you know, the cost to procrastinating and not acting in the right time is, you know, cost increases and, you know, potential delays on starting your home or being in your home, you know, when you first desired. Like every day in the building industry is, you know, weeks, you know, in the real world, like so many elements change rapidly all the time. So by not acting and giving yourself the time to actually take steps forward because you're delaying to take those steps forward can dramatically impact, you know, your overall build.

But, but what, what would some of the most common reasons be that families procrastinate or delay on the process? I mean, you, you might have some, some customers at the moment who are perhaps excited to build, but they're like, oh, we'll just hold off, just, we're still playing the waiting game. They might be ghosting you. What, what do you think some of the main reasons that's happening?

I think a lot of people are very time poor and the world we live in there now, it's so fast paced and most people are both busy working, you know, juggling Families, you know, external sporting events and things there that it's very hard to manage the time. So when it comes down to then building a home, it's trying to find that time to invest in your asset. And before we know it, one week turns into two, two turns into four, four turns into eight. And the communication and the correspondence hasn't been there. Now for us, we're more than happy to work with people on a very long term journey building their forever home because we want people to take their time and get that right. But it's also really important that the customer is aware that the longer that journey goes, the very initial stages of where we spoke about costings to 14 months later, unfortunately, generally the prices will go up. You know, we all understand the world we're living in. Prices don't generally come down now with increase of costs that can sometimes start pushing out all those extra little bits and pieces that they may have been wanting but now cannot have because costs have gone up.

So what's really the problem there? Is it, you know, you're saying the problem there is that people are time poor so they lack the dedication and the focus, you know, towards their, their home building project.

Look, it definitely is time, but then I think it can be, then people second guess themselves as well and they want to get it all right from the, the initial start. But sometimes it's best to get the main structural integrity of the home right and then worry about your stone bench top or laminated bench top or you know, what color your walls are going to be, you can pick your tiles and that later on. Like don't get me wrong, it's great to have all these things set out and you know, pipeline so things run much smoother. But there's still a time and a place to do all those other little more cosmetic stuff. So if you are into position there and you're looking at building and you're thinking that it's just too much to take on, you know, start with the more core ingredients, you know, working on your foundation, the structure, the layout, and then start layering that plan up. And before you know it, certain things will just start naturally falling into place. But if we start procrastinating on some of the little details that really ain't that important at this point of time. Not saying it's not important to the overall build, but if you're focusing on something that isn't quite that right moment in time and then that's holding up the, the main structural layout or progressing further down the line, that's only going to have a negative impact on the overall outcome because until full plans and specifications are put together, you can't go getting accurate costings done.

Yeah, yeah, that totally makes sense. Do you think that fear has a part to play in, in the sort of the procrastination train? I mean, if you think of the way that the media talks about the construction industry, it's usually perhaps more in a negative light, just generally in the mainstream media. And that may potentially put a sort of blanket, sort of fierce state into the, into the market a bit. Do you, do you think that has a part to play?

Oh, look, definitely, I believe, like the media have a huge part to play in the construction industry there. But if people are definitely 100 committed to building, there's no better time to start building than now. You know, every day you delay something, it's going to cost you money. That's as short and simple as it can be, you know, but it's also important to take your time so you don't make rash decisions. But you've got to find that balance between, of what you hold off on and what you don't, you know. But generally speaking, you know, the sooner you can start that process there and start taking steps forward and I guess building out your plans so that they're ready for quotation stage, that's going to be in your best interest there. So you can get current live costings now because like I said, before two weeks turn into four, four turns into two months and before, you know, it's 14 months later and you haven't done anything and the cost from 40 months ago to now have dramatically changed.

I mean, if you, if you have, if you're talking to a group of people who are kind of on the fence, they're perhaps trying to be a bit strategic with their, with their sort of building process and you're sensing that there's a bit of procrastination in what they're doing. What are some of the things that you'd say to them or even some practical tools that you'd give to them to help them make a more informed decision on taking the next step?

Yeah, so the biggest thing is to sit down and just find out what the main hurdle is. You know, what the concern is at the time is that actually concern or problem at the moment really affecting things being moved forward. If it is, it's a matter of addressing that situation there. But you know, really it's communicating and talking that through and working out a plan of attack for what that problem happens to be. But the way the cost of living and everything continues to go up there, it's always going to be a matter of actually acting now so you can give yourself the best position possible to make the right choice at that current time.

I'm going to assume that a good relationship with the builder that you engage is going to be crucial in this because I would assume that there's a certain level of transparency required from the homeowner to actually speak to the builder and inform them and trust them with their fears and their concerns. Right.

100. You know, like being able to have open, honest conversations there with your builders. Very important. And you'd be surprised if you actually openly, you know, I guess express your concerns and your problems and that there with your builder that you probably realize by just talking it out, it's actually not that big of an issue or concern that it actually can be facilitated or fixed pretty easily there. It's probably just more of a fear that people sometimes can be scared to share or over communicate and that's where for ourselves like we really pride ourselves into communication and we want our customers to be open and be. Feel comfortable to talk with us there, sort of to go through those hurdles because it's a journey we all go on together. Like it's. Obviously they want a lovely home, but we want to be able to construct a beautiful home that we're proud of as well.

Absolutely. And how does that make you feel, I guess as a builder, knowing that you've got, you know, potentially a few projects in the pipeline and you've got these amazing people, but they're just in that they're stuck in this procrastination state. How does that make you feel as a builder?

Yeah, look, it's not ideal to be honest. Like we do our utmost best there to help all of our customers there, but it's got to be facilitated both ways. And I guess that comes through the communication avenue. Things there, like we can only go so far, but if people choose not to answer their phones or you know, get back to you there, you know, you know, if they're having problems until they've actually expressed their issues or their concerns, we aren't able to fix them. So it's, it's really important that you know, people are open, you know, if there are issues or any concerns that they've got to be able to openly talk, you know, with themselves or their building company, you know, that they've engaged so that they can help them there. Because if they're not actually being Open about stuff there that they're going to be by themselves.

Yeah. So that, I mean, that to me sounds like there needs to be a bit of a mindset change and how they can approach and communicate with their, with their builder. And, and so, I mean, with that, what sort of. What final. Again, what. What sort of final practical steps can you give somebody to help them move from a state of procrastination into a state of action?

Look, the biggest thing is just a matter of actually overviewing the whole thing and then just going topic by topic or task by task and chipping away at that. You know, so find the biggest hurdle to start with, solve that there, have the conversation, put a plan of action in place there and, you know, then you can start beginning to move forward with things there until you've actually bought those, you know, concerns or those issues up there, you know, they're not going to be fixed until they are addressed. Do you know what I mean? So it's really important that you don't let that become a roadblock in creating your forever home.

Because I feel, I feel like that could become a. I mean, I mean, correct me if I'm wrong, but could that become a bit of a negative spiral if they keep it within themselves and they think that, you know, it's turning a molehill into a mountain where it's like, well, that that obstacle all of a sudden becomes bigger and bigger because they're not actually seeking active help with it. They might be going to the wrong places to get counsel and all of a sudden they actually start walking backwards instead of walking forwards.

Yeah, look, definitely, you know, it's got some truth behind what you're saying there. And I, I guess the other element is that some people there will start seeking advice through family members and other stuff, which is a great way to start things there. But it's also really important that they understand it's their home. So they don't want to go getting confused through other messages and the wrong messages that other family members and friends and that can quite often, you know, offer them. It just doesn't make it factual, you know, so always, you know, bringing that information to the table with your builder so you can openly go through that, then digest that to help them down the right path.

Love that. So if you, if you feel like you're in a state of procrastination or a state of inaction, consult with your builder. Be open, be transparent, list out the obstacles that you have and together work.

Out a game plan 100%, you know, that's the best course of action there. At least then you can take, you know, small steps forward to. To get to the. The end game of where you want to go.

Love it. Well, on that note, Norm, I'm going to pass this over to a get to know your Norm jar, and we're going to wrap up this episode. All righty. Okay, Norm, what's a moment in your life you wish you could relive and why?

A moment in my life I wish.

I could relive, and why.

I would go down the path of the birth of my daughter.

Thought you. I thought you'd say that.

Yeah, yeah, yeah. Just a. A special memory, I guess, that you can never, ever forget. And I guess, yeah, other than, you know, all the other wonderful memories that you create there, it's something that, yeah, it has to be up there with the best memory, so I'd relive that any day.

Wow. I love that. That's beautiful, mate. Well, as always, thank you so much.

All right. Pleasure. Cheer.