Is the builder financially strong, and how certain is the price?
Financial strength belongs at the top of any builder assessment. In recent years, a number of Australian building companies have gone out of business, some with homes still under construction. When you commit to a builder for a custom home, you need confidence that the business will be there to complete it and stand behind it. There is a second financial question too, and it is worth keeping separate: how certain is the price of your home?
No single measure guarantees a builder’s future, but longevity is one of the clearest signals. A builder that has traded through several market cycles, including the difficult ones, has shown it can manage its business responsibly over time. Latitude 37 has operated since 2006 with a disciplined approach to financial management, project selection and delivery capacity.
Ask any builder how long it has operated, how it managed through tight markets and how it plans its workload. Builders that take on work unevenly can fall into a feast-or-famine cycle, with stretches of heavy workload followed by too little work and pressure on cash flow. We deliberately limit the number of homes we commence each year, so our team can maintain close oversight of quality, program and client experience.
Building a custom home is a significant commitment, and it is reasonable to want confidence in the builder you choose. We are always happy to talk openly about how we manage our business and our financial position. Just ask.
Awards offer an outside view. Housing awards recognise finished homes. The HIA Professional Medium Builder award assesses the whole business, from management, financial practices and client service through to design, construction quality and innovation. Latitude 37 has twice been named HIA Australian Professional Medium Builder, in 2015 and 2021, and HIA Victorian Professional Medium Builder in 2014, 2020, 2022 and 2023. It was also a Victorian finalist in 2024 and 2025. Clients’ own experience is another outside view. Latitude 37 is rated 4.7 from 183 reviews on ProductReview.com.au (as at October 2026).
On the second question, price certainty, ask four things:
- what the price includes
- when it becomes fixed
- what can legitimately change it
- who carries the risk if construction costs rise
At Latitude 37, you sign a Fixed Price Building Contract once your documentation and specifications are complete and approved. The contract sets out the agreed scope, price and exclusions clearly. Before that point, coordination and technical questions are worked through in the office rather than left to be discovered on site. That preparation is what allows the price to be fixed with confidence. Changes after signing are variations.
Comparing quotes: when a lower price is not what it seems
For an equivalent home, specification, service and construction quality, reputable builders are buying labour and materials from broadly the same market. There is no hidden source of dramatically cheaper trades or materials. So if one proposal is materially lower than another, the useful question is why.
- Is it the same specification and fitout?
- Is the same construction detail included below ground and behind the plaster?
- Is there an equivalent level of project management and quality assurance, including independent third-party inspections?
- Are important items excluded, left as allowances or still unresolved?
- Is the margin one the builder can sustain for the whole project?
A price that looks low at proposal stage can rise once allowances are firmed up and missing items are added back, often at a point where you are too far in to change course. That is not true of every lower quote, but it is worth testing before you commit. We would rather give you a realistic figure early than the lowest one.