What would you change on the building contract if you could?

Hi all,

I've got my final building contract & just wondering what anyone else would try to change if they could? My builder wants 280 days to build I think 180 days is reasonable. Also they say they will pay $250p/w if they go over the build time I think I should try to up that to $500p/w instead. has anyone else had any success with stuff like this?

Regards,

James

Wow, goodluck with that!

280 days is quite long. Mine is only 164 days.

Liquidated damages (payment for going over time) should be what the property you are building would rent out for. This is your damages. Any other figure is incorrect.

Of course, if the built time is excessive, the liquidated damages don't make much sense.

Given that Owners don't want Builders to ever have to pay liquidated damage it probably makes sense to add 2 months to the build time for the contract, but for al to focus on the target build time (which is less than the contract build time).

And your's could be working days as opposed to elapsed days and you could be building a single story instead of a double story

it could also depend on where you are building. Double brick tends to take longer than brick veneer these days. What's teh standard HIA contract number of days? Anyone?

If the 280 days includes holidays, etc. it sounds pretty similar to what we've seen for a double story construction. Don't know if there is much flexibility in this.

Be thankful you're getting anything.

What I would change?

See if they could drop a 0 of the price

haha, nice call!