Understanding Your Building Contract: A Simple Guide

Tackling the task of reading a build contract takes patience, a bit of knowledge, and quite possibly some caffeine. So, make your coffee, get comfy, and use this guide to walk you through understanding your build contract.

1. The Basics – Who’s Doing What

Your contract starts with the essential, i.e.: who the builder is (that’s us), who the client is (that’s you), the legal description of the land, and an approximate start date and completion date (these will depend on when consent is issued).

2. The Price – And What’s Included

This part’s a biggie. Your contract should clearly state whether the price is fixed or if there are any provisional sums (items that could vary—like earthworks).

When you build with us in one of our developments, you benefit from our Fixed Price Promise, because we manage everything from sourcing the land right through to the build.

If you already own the land or you’ve chosen a site on one of our development partner locations, we’ll still do everything we can to lock in pricing where possible—and we’ll always be upfront about any site-specific costs.

3. Variations

Variations are changes to the agreed build. For example, you might swap the standard kitchen tap for a gooseneck tap. In this case, you’d receive a credit for the original tap, and the cost of the upgrade would be presented to you for approval before any invoicing.

Good to know: Any variations must be requested in writing and approved before work proceeds. This protects both of us and keeps everything on track.

4. Payments – The Schedule

Your contract will outline your payment schedule.

A progress payment contract is linked to build milestones (like slab down, roof on, completion, etc.).

Whereas a turnkey contact means you’ll pay a set deposit up front, and the remainder is due when the home is complete.

Note, It’s important you’ve received independent financial advice before signing any build contract.

Double check: Make sure you understand when each payment is due and what stage of the build it relates to.

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5. Warranties & Defects – Peace of Mind

This section outlines your warranties and how any defects will be managed after handover.

With Ultimate Builders, your home is covered by a 10-YearHalo Build Guarantee, so you can feel confident you’re protected long after move-in day.

We’ll also check in with you around 11 months after handover to visit your home and look for any remedial works as the house settles; things like minor paint touch-ups.  It’s all part of the service.

Final Thoughts

Your building contract should be clear, with no hidden costs or ambiguous wording. If you’re ever unsure about anything, don’t hesitate to ask, we’re here to make the process straight forward and stress-free.

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Still have questions?
We’re always happy to help and to answer any questions you may have. Talk to one of our team members today.

Your story. Our passion. Welcome Home.

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