Information about the construction phase.
Frequently Asked Construction Questions
What happens when you prepare my building licence documents for lodgement?
Once your construction drawings have been amended to include any pre start variations and are 100% completed we will obtain structural drawings from the engineer which takes approximately 4 weeks. Once this is received, your plans and Engineering are required to go through a certification stage before lodgement. This process takes approximately 2 weeks. Once we have all the relevant paperwork signed and approved we are ready for lodgement! Once in council the average turnaround time is 10 days.
When does my time to complete timeframe commence?
Please note that your contract time commences from the date of your slab pour not the date of signing your contract or issue of building license
Why do I have to pay the deposit and not the bank?
For most people, they borrow the full amount for their block of land and their new home. This means after settlement, you’ll start making repayments on your block of land. However, you should expect that your repayments will increase incrementally as your building loan is drawn down by the builder. What If I’m paying for some of the Build, And the Banks Paying the Rest? Let’s say you are wanting to build a new home for $500,000 and have $200,000 in your bank account and you have a bank loan approved for $350,000. You’re planning on using $50,000 of your money at the end of the build, to pay for some finishing items and to purchase some new furniture. Who pays what and when? The banks will all require you to pay your portion of the bill first, and they will take care of the rest. That means you’ll be expected to pay $150,000 before the bank releases a cent. It’s not how most clients want it done, but the banks generally do this to ensure that money isn’t spent before the building is completed, which is fair enough. However, this means you should be prepared in advance. If you have funds in fixed term deposits, you’ll need to make sure you’re able to get those funds out when we issue you with your progress claim, if you can’t, we as the builder are entitled to stop work and also charge you late fees on your payment, but we hope that we never get to this point…. So be prepared! We hope this has cleared up some of your questions relating to progress claims and payment schedules. For the most part, just be aware that the banks will release your funds in accordance with your contract, and your repayment amounts will increase as they release more and more money.
What about variations?
Variations are the responsibility of the client and under most circumstances the bank will expect that you will pay these direct to the builder.