Victorian HIA New Homes Contract - 5 Things to check before signing (a checklist)
Before you put pen to paper to to sign your HIA Building Contract, it is so important you know the inner details of the contract. Many first-time homeowners aren't aware how much is spelled out in the HIA Building Contract. It outlines the entire roadmap for your home building journey, covering everything from managing variations and delays to compensation and design changes.
Here's a handy checklist to empower you with the knowledge needed before signing:
Specify a start date - to ensure there is mutual agreement on when works intend on starting
Liquidated Damages - Ensure the daily rate for liquidated damages represents a genuine pre-estimate of costs if completion of the build is late.
Understand the Special Conditions - make sure you understand how any builder proposed special conditions impact the general conditions, and seek help from a Building Contract expert if you aren't sure.
Specify any ambiguities - Check that your contract specifies the types of finishes, colour codes, models of appliances, and specific fittings and fixtures, otherwise finishes may be installed differing from your expectations.
Defects - Clarify the defect management procedure - check the definition of defect is adequate and request the builder outlines the defect management process.
Authority Approvals - ensure the responsible party for obtaining Authority Approvals (e.g Building Permits, Planning Permits, utility connections) is clearly defined.
Building your new home and ready to take 'complicated' out of the equation?
Introducing 1:1 Building Contract Consulting
Pick my brain in a 1:1 session and in just 60 minutes have immediate clarity on how un-complicate your build with the building contract.
⭐ You’ll feel in control of the home building process, avoid costly oversights, and find fewer surprises during your build.
⭐ Know your contract, understand your rights, and save money while you build the home of your dreams.
⭐Your builder will love you for knowing & following the rules in your contract (trust me, it makes a better build for everyone!)
__
Written by Annelyse, Building Contract Enthusiast, Project Manager, and founder of Build Together Project Management.
__
P.S. Are we friends on Instagram yet? Head on over here to connect with me! @buildtogetherpm. Send me a DM to let me know you found me from the Blog!
