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Hey all,
Wow, two thread starters in one day! This one is like the sequel..."The Empire Strikes Back..."
From those of you out there that have started, or even finished: what payments were typically made, how much and when? I'm particularly interested in the start game...
"Help me Obi Wan Kenobi, you're my only hope..."
I have only just started so the deposit on the land (vic - west) was $1k upon signing the contract. and the house was $550 to secure the price.
I was told the deposit for the house is refundable as long as we have not proceed with the soil test.
May the force be with you....
We are in Vic:
To secure the sale $600,
Then the balance to 5% for deposit
Base stage 10%
Frame stage 15%
Lockup stage 35%
Fixing stage 25%
Completion 10%
Hope that helps in some way?
I spent most of time on this reply trying to come up with a really clever Star Wars analagy but couldn't!
Cheers
Tony
I can only answer for myself I am at fixing stage now so only one more to go yay!! went as follows:
$1,000 deposit - gets you soil test and contractss drawn up, once this accepted and any variations noted
5% deposit
20% base stage once concreet poured or timber floor concrete footings and brickwork built to floor level
20% Frame Stage all external frame and windows even if temporary
25% Lock up
20% fixing plaster hung architraves skirting doors baths basins sinks cupboards garage carport
10% completion all items under contract complete
hope this helps
with Porter Davis...
$600 - initial deposit, secures site start, price/promotions and soil test.
3% of total at tender appt
2% of total at contract appt - less the initial $600.
then progress payments once construction starts...
Thankyou all for the replies so far... Please keep them coming...
The reason I bring it up is that we've been asked to sign a "construction proposal" and hand over $15000, but we haven't finalised any selections...
We've discussed a couple of upgrades here and there and some changes to the standard plan structure, which has been costed, but nothing else...
We're just worried they'll take us to town, after signing, with respect to the other upgrades we're after.
Anyway, starting to rant now... Just wondering if this sounds right?
Please keep the replies coming... And may the Force be with you...
What? $15k for the construction proposal? Which builder are you with (PM me)?
Not sure which builder you are with, but I'd be reading the terms of the contract very carefully to see how much is refundable (if any).
One other point - some builders have a relationship with a finance broker.
As an example, Porter Davis ask for $600 up front to cover soil test and site survey, then 3% at Tender Appointment - unless you are financing through their broker, in which case it's $1500.
Best of luck with your project!
Perry
Once we had a detailed plan (but not the final working drawings) & quote done, we paid $6000 deposit.
Then it will be nothing until the slab is done shortly. Can't remember exactly the break down - but its all percentages over 5 stages.
Again, thanks everyone for your replies...
Are people finding that they have all selections made (tiles/windows/doors/taps/vanities/kitchens/etc), Basix requirements covered, and at least an accurate sketch, for layout of the residence, (i.e the house at it will be built and as per Council and Basix requirements ), before they pay up a significant sum...ie. in the amount of $15000???
Thanx...
With a private builder in Adelaide...
$1500 - Plans (Architecturally designed to our specs)
$2500 - Soil tests/engineering reports
$1000 - Deposit on signing of contract (previous payments came off the price of the house)
Payment Schedule:
25% Footings
25% Frame
15% Roof and Bricking
10% Internal Walls
15% Second Fix
10% Completion
Has anyone done a cost plus project?
Again, thanks everyone for your replies...
Are people finding that they have all selections made (tiles/windows/doors/taps/vanities/kitchens/etc), Basix requirements covered, and at least an accurate sketch, for layout of the residence, (i.e the house at it will be built and as per Council and Basix requirements ), before they pay up a significant sum...ie. in the amount of $15000???
Thanx...
$15K is indeed a bit high. But it all depends on the company.
We are with AllCastle, so far we paid $6000 (both non-refundable):
$3500 (including original $600 site survey/soil test) for plan preparation fee.
$2500 for council lodgment.
We done all those things your mentioned, now council approved, everything ready to go. Except ---- we haven't sign the contract yet. As we are quite fussy, keep changing the interiors, and the final price keep changing as well. Hopefully will all be settled before end of June - I am getting a bit impatient of things dragging on for too long...
I read some documents from AVJenning and Eden Brae, they both require you to paid 5% and sign contract before lodgement to council. But this was from last year, not sure if they have changed.
Cheers
Allan
http://building-our-first-house.blogspot.com/
Has anyone done a cost plus project?
Sorry, what is that??
Cheers
Allan
http://building-our-first-house.blogspot.com/