Hi Folks,
We need to upgrade our home and in the process of building it in the Western suburbs of Melbourne, Truganina. Gone through multiple volume builders design and display homes but not really ticking all the boxes with the family. So, we design our floor plan and got quotation from multiple builder.
One thing we are trying to mitigate is the risk of builder declaring bankruptcy after starting our house construction and before finishing it.
If you guys have build with custom builders how do you mitigate this risk? Is there an Insurance that we as a customer should be aware of that Builders needs to have? or is it just go with a reputable builder? who builds 100+ homes a year and have display homes.
Thanks in advance,
Regards,
Mixter.