Should You Build Now or Wait? The Real Cost of Delaying 

If you’ve been watching the news lately wars, inflation, interest rate movements, petrol prices it’s understandable that you’re questioning whether now is the right time to build. It feels logical to wait for things to settle down before committing to one of the biggest financial decisions of your life.  But according to Behan Flaherty, director of Independent Building Advice, that logic has a serious flaw. In his 25 years of guiding Perth homeowners through the building process, he has never once had a client come back after waiting and found that it was cheaper.  “Almost always, we have to add large percentages,” Behan says. “We go back to the builder, get them to reprice it properly, and generally it’s $20,000, $30,000, $40,000 sometimes $100,000 more than what they originally had.” 

There Is No Perfect Time – There Never Has Been 

The idea of a perfect market moment is one of the most persistent myths in property. People wait for interest rates to drop, for wars to end, for elections to pass, for the dust to settle. And then they wait a little longer.  The reality, as IBA consistently reminds clients, is that Perth property values have trended upward over the long term regardless of shortterm disruptions. Interest rates go up and down. Wars come and go. Supply chains tighten and loosen. But the underlying trajectory of building costs in Perth has only moved in one direction.  Waiting for certainty is not a strategy it’s a delay that comes with a price tag. 

What Waiting Actually Costs You in 2026 

This is where the numbers get uncomfortable. Behan Flaherty is currently advising Perth homeowners to factor in approximately 1.5% price increases per month on their build and potentially more depending on their project.  Run that forward 12 months and you’re looking at a 1525% increase on what you’d pay today. On a $600,000 build, that’s $90,000 to $150,000 in additional cost simply for waiting.  The reason is straightforward. When a builder prices your home today and locks it in, they’re working with today’s supplier costs. If you delay signing, they reprice based on projected future costs and to protect themselves from uncertainty, they build in a buffer. That buffer comes out of your pocket. 

The Double Hit: Rising Costs and Shrinking Borrowing Capacity 

There’s a second problem that often gets overlooked. If interest rates rise while you’re waiting, you don’t just face higher building costs you also lose borrowing capacity.  Banks calculate what you can borrow based on your income, living expenses, and existing debts, then factor in your repayment obligations. As interest rates increase, the repayment on any given loan amount goes up, which means the bank will lend you less. So the combination of higher build prices and reduced borrowing capacity can push a build that was achievable today completely out of reach in 12 months.  IBA has seen this scenario play out many times. Homeowners who were in a comfortable position delay for a year, return ready to proceed  and find they can no longer build what they originally planned. 

What to Do Instead 

Independent building advice isn’t about telling people to rush in blindly. It’s about making informed decisions based on real information, not fear or false optimism.  Behan Flaherty recommends every Perth homeowner work through a threenumber budget framework before looking at any property or builder: 

• What you’d love to spend your ideal scenario 

• What you’re genuinely comfortable with your realistic commitment 

• Your absolute maximum the number beyond which you walk away 

Once those numbers are clear, the decision becomes much simpler. If the build works within your budget today, waiting only makes it harder. 

The Bottom Line 

New home building in Perth is not going to get cheaper. That’s not a sales pitch it’s a consistent pattern Behan Flaherty has observed across three property booms over 25 years. Suppliers don’t discount. Builders don’t absorb cost increases indefinitely. And the market doesn’t reward patience the way people hope it will.  If you’re in the right position in your life to build, the best time to lock in your price is now.  Every situation is different, and IBA is here to help you work through yours with no agenda and no builder relationships to protect. To book a free 15minute call with the team, visit independentbuildingadvice.com.au or book directly at https://api.leadconnectorhq.com/widget/bookings/ibainquirycall. There’s no obligation  just straight answers.