Browse Forums Building A New House 1 May 06, 2009 3:52 pm I am just wondering if anyone can give me a general figure for how much each stage of the building process will set us back? We are building a 29 square home with M and just want a really really rough idea to try adn work out roughly what our repayments will be while we build. Any help would be great Building our FIRST HOME - M3tricon Santorini 29 on 2 acres just West of Warrnambool Re: Basic costs at each building stage 2May 06, 2009 4:00 pm Have you signed the contract yet, because in the contract it tells you the contract price, and has a Progress Payment Schedule. If they haven't worked out the actual dollar figure, there will be percentages, so just work that out on the contract price. Its hard to give a figure without knowing upgrades & options, site works etc. Best thing is to check the contract and it will all be there for you! Building in Brisbane SW Suburbs Started on site with plumbing on 30/3 - Lock up 2/5 - 15/6 Recd Fixing Invoice - 18/6 Painter to start ! Re: Basic costs at each building stage 3May 06, 2009 4:17 pm Nope have only done pricing, just trying to work out the affordability of renting and building at the same time. Thats okay...Im a little tooooo organised it seems lol. Thanks Chrissy! Building our FIRST HOME - M3tricon Santorini 29 on 2 acres just West of Warrnambool Re: Basic costs at each building stage 4May 06, 2009 4:17 pm AS a guide, our contract had the following percentages: 5% deposit 10% - slab 15% - frame 35% - lockup 25% - fixing 10% - handover This can vary between builders though. Re: Basic costs at each building stage 5May 06, 2009 4:47 pm THANK YOU IF YA RECKON!!!!! hugely appreciated a guide is much better then the unknown Building our FIRST HOME - M3tricon Santorini 29 on 2 acres just West of Warrnambool Re: Basic costs at each building stage 6May 06, 2009 6:08 pm Looking at my contracts mine is 3% deposit 10% Base/slab 15% Frame 35% Lockup 25% Fixing 12% for completion Re: Basic costs at each building stage 7May 06, 2009 6:13 pm Sorry to hijack the thread.. but do most banks let you pay interest only repayments for the progress payments? Building with PD - Regent 23 Cascades on Clyde Estate HomeOne Building Thread - PCI Completed - 28th August. Handover - 11th September. Re: Basic costs at each building stage 8May 06, 2009 6:42 pm erinleigh Sorry to hijack the thread.. but do most banks let you pay interest only repayments for the progress payments? Once yous tart building, yes it should only be interest that you are paying 'A bottle of wine contains more philosophy than all the books in the world.' Louis Pasteur Vegie garden: viewtopic.php?f=19&t=27637&start=0 My Backyard Adventure Re: Basic costs at each building stage 9May 07, 2009 9:20 am Hi again Aimeh, I am too building with M and checked our contract for you last night. We are building in QLD so i'm not sure if its anything different.... but to give you an idea on their contracts.... Deposit 5% Slab 10% Frame 15% Lockup 35% Fixing 20% Pract. Comp 15% Also, if you have made any post contract variations, i've been told that this amount gets added on at the end, with Practical Completion! And when you pay at the beginning, your $1000 and $1500 for soil test surveys etc, that will come off your 5% deposit. I hope that is of some help to you ! Building in Brisbane SW Suburbs Started on site with plumbing on 30/3 - Lock up 2/5 - 15/6 Recd Fixing Invoice - 18/6 Painter to start ! Re: Basic costs at each building stage 10May 18, 2009 3:26 pm I was searching for some information on the progress payments and came across this thread,sorry for hijacking it. We received our first invoice today and it was MUCH higher than we would have expected, after ringing the builder and clarifying it it makes sense, BUT on the invoice it Listed Footing and a price that was actually 20% of our contract price, BUT it didn't say anywhere that it was 20%, has anyone else received a "confusing" invoice? What do others think, should they be more specific? Re: Basic costs at each building stage 11May 18, 2009 4:30 pm Vid, I was told by my builder that footing progress claim is 20% PLUS 100% of footing and footing related variations. Mine came out to be about 25% of the total price. I asked for and have received dollar values for every claim they will be making. Chris Re: Basic costs at each building stage 12May 18, 2009 11:00 pm ChrisL Vid, I was told by my builder that footing progress claim is 20% PLUS 100% of footing and footing related variations. Mine came out to be about 25% of the total price. I asked for and have received dollar values for every claim they will be making. Chris Hi Chris, Thanks for that, I have just calculated ours and it comes to just over 23% of the TOTAL including the footings variation and all other additions (kitchen/bathroom etc). I have just read through the HIA building contract and it does mention various percentages and 20% is the first one. Hope all is good with you. Vid Not unless you have managed to put it as a special condition into the contract somehow. 1 6155 The fastest thing a builder will do is bank your cheque, those systems work perfectly with lightning speed, everything else is slow burn. Just the way it is. 1 8706 1 4695 |