Building a new home can certainly create some questions. If you don't see the question and answer you are looking for, please feel free to submit your own question and we will respond.
Question: At what stages do we have to pay you to build our new home? Answer:
We use the Housing Industry Associations (HIA) ‘Plain Language building contract’ which sets out the 6 stages for payment.
The 6 stages are:
Deposit (paid at contract signing – 5%)
Base (paid once the floor is down – either concrete slab or floor framing – 10%)
Frame (paid once the frame is erected – 15%)
Enclosed (paid once the house has been ‘locked up’ – 35%)
Fixing (paid once the plaster is up and the wet area’s have been tiled – 20%)
Practical Completion (paid when the house is complete – 15%).
Each of these stages are clearly identified within the building contract
We are more than happy for you to take a ‘blank’ copy home to read (or to pass on to your solicitor) prior to signing.
