Browse Forums General Discussion 1 Dec 29, 2016 5:55 pm Hi everyone We are looking into a knockdown re-build in Sydney metro. We have found a house and builder we like. They have given us a total cost of the build but won't give us a breakdown of those costs until we sign the contract and pay a deposit of $25k. Only then are we able to see prices for individual items to work out what we can do without and what we can change in order to reduce the cost. We definitely need to reduce the cost. They say this is because they only quote off the architectural plans which are not done until after the deposit. Is this typical? We are nervous to sign and pay just in case we can't get the price down to be able to afford it. We would be signing and paying a deposit for an unknown end result. Am I right in being worried about this? Should we look at other builders who have given us breakdown of costs without paying anything? Please give me your experienced feedback. Thanks. No cost breakdown without $25k deposit. Is this right? 3Dec 30, 2016 9:36 am We paid 2k deposit but it wasn't a knock-down job, we also looked at another builder prior to this who did a quote without any deposit, that included full break down of costs Re: No cost breakdown without $25k deposit. Is this right? 5Jan 27, 2017 9:56 am All the builders we looked at gave us a quote with breakdown before we parted any $$$... sounds very strange especially such a large amount.. I agree with Rocchet.. Run. Our Trinity Lux Q1 with Plantation Homes: https://forum.homeone.com.au/viewtopic.php?f=31&t=85254&view=undread#unread Insta: @newhomedream Re: No cost breakdown without $25k deposit. Is this right? 6May 25, 2017 1:21 pm That is too high for an initial deposit before breakdown. You should not be signing any contract until you see the breakdown in costs and conditions. A small initial deposit is all that is required to get the contract ready (including full cost breakdowns) - 2k would be more than sufficient at this initial point. Are you choosing this builder on any known recommendations? Re: No cost breakdown without $25k deposit. Is this right? 7Jun 01, 2017 2:26 pm When building or renovating, your builder will require a deposit before commencing work. Unfortunately, some unscrupulous builders try to take advantage of customers by asking for more than they are legally entitled to. There are laws in place regarding deposits and progress payments for building work. Here's what you need to know. How Much Deposit Should I Pay My Builder? This is an often asked question and one that is easy to answer because the Domestic Building Contracts (DBC) Act of 2000 states that:
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