Building Tips

Before you start any building project, it’s important to be well prepared. Here you’ll find some start-to-finish tips for successful building.

Costing and financing your building project

Many people, and not all first time builders, overlook this important first stage planning. Your building can easily run into its contingency early if all costs aren’t factored in.You will need to Budget for:

1. Land and stamp duty
2. Architect or designer
3. Local town planning permits
4. Building cost plus a little extra
5. Fixtures, fittings and landscaping

When you approach your lender, you’ll need to be well prepared with:

1. Records of assets and liabilities
2. Recent income evidence and details of any other loans
3. Information on how much you’ll need to borrow

Getting the design right

Especially if you haven’t been through the building process before, it’s a good idea to be clear about likes, dislikes and your design wish-list. You can do this by:

1. Reviewing magazines and catalogues
2. Visiting trade displays and home show expos
3. Viewing display homes

Clip out items of interest and take photos or notes. Then your designer or architect will plan a building that suits you ... down to the ground.

Choosing the right builder

Be sure you choose a quality builder you or your architect can work well with. Usually this will involve checking some reference and past projects. This is well worth the effort.Once you are ready for quotes, you’ll need to be sure the building estimate includes everything you want. Read the costing carefully for:

1. detailed design and written specifications
2. fixtures and fittings included
3. preferred contract
4. additional costs falling outside the quote

Importantly, you should obtain several quotes to compare. And be sure you’ve selected the right builder before any final negotiation begins.

Always use a contract

In building, contracts are very important. Your contract includes clear detail on the project scope, cost , terms and recourse if something goes wrong. Common inclusions in a building contract are:

1. Project scope & Variations
2. Price & Payments
3. Security & Insurance
4. Performance & Quality
5. Disputes & Termination

With building underway

Take advantage of all meetings with the builder, on-site or otherwise. Ensure you take meeting minutes that can be referred back to at a future time.

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