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  • | 30 Sep 2014

    Financing your home

    The first step is to do a budget. You will need to sit down – in case any of the figures surprise you! From your seated position, work out your annual income and ALL your expenses. Check all your bills to work out the annual cost. If you are buying as a couple, do a […]

  • | 6 Jun 2013

    Unavailable Products

    Sometimes building materials and products are specified by an owner, but become unavailable for reasons such as strikes, shipping delays, high demand etc. This presents the owner and the builder with a dilemma which must be worked through carefully. If these circumstances arise most building contracts provide that the builder must notify the client and […]

  • | 6 Jun 2013

    Renovation Costs

      We already know that kitchens, bathrooms and laundries are the most expensive parts of a home to add or update, but the cost of renovating can quickly add up even when it is a simple extra bedroom or games room at the back. New homes have fewer complications to overcome, and builders generally start […]

  • | 6 Jun 2013

    Security of Payments Legislation

    The Construction Contracts Act, also known as security of payment legislation, commenced on 1 January 2005. Part of this legislation covers disputes between building owners and builders. The laws are designed to maintain the flow of funds between parties even when a dispute occurs and not allow an owner to retain monies owed under a […]

  • | 6 Jun 2013

    Shared Equity Scheme

    A shared equity arrangement is where two or more parties agree to co-purchase an asset, and share in any capital appreciation of that asset over time.  The parties may agree on a 70/30 ownership or any other shared arrangement.   The parties need to consider whether recurring expenses such as stamp duty rates and taxes and […]

  • | 6 Jun 2013

    Survey Plans

    A legal survey exists for all land (lots) in Western Australia. Survey plans are the official record of the legal boundaries of land and will usually indicate the dimensions and size of a lot. Three types of legal survey plans are available from the public register and copies can be purchased online from the Western Australian Land Information […]

  • | 6 Jun 2013

    Profit Margins in Building

    There are many variables which need to be taken into account to comment on profit margins such as the size and type of project, the type of contract, the overheads/administrative structure of the builder, number of sales and other staff employed, the economic state of the industry, whether renovations or new housing and so on. […]

  • | 6 Jun 2013

    Land Title Release and Contracts

    Sometimes people sign a building contract and pay a deposit on a home when land title is not yet available. Delays in the processing of land title can be lengthy and with building costs increasing rapidly, so there can be contract complications and inconvenience to both parties. Under normal conditions and under most building contracts […]

  • | 6 Jun 2013

    Prime Costs and Provisional Sums

    Prime Cost (PC) items and provisional sums (PS) are two items in a standard building contract which cause great confusion among homebuyers. Most building contracts are called “fixed price contracts”, but the final contract sum can vary due to fluctuations in PC and PS items. A PC item is an amount of money included in […]