Hi Norfolk, I agree with you but the only issue is that liquidated damages works both ways not just if the builder is in breach but also if I don't achieve my contractual obligations on time (finance approval, invoices paid on time). Then I will be in a position that I cannot afford, $1000 per week is too much for me. Therefore I was happy with the HIA default standard $250 per week. At the end of the day I am not building with them to try and make money but rather work with them in getting the home I want with the least amount of effort and worry.
Amit