Building a house?

There are a whole range of different builders and franchised building companies around and it is popular for people to engage a building company to build a house or alternatively for people to purchase what is known as a “house and land package" which combines a building contract with the contract for the sale of the land.

Regardless of how well known and competent the builder or building company is, the very nature of building a house in terms of the big financial commitment and complexity means that it is likely to have some challenges and stresses along the way. It is absolutely vital that you firstly have a building contract in place that governs the terms and conditions of the build and each party’s respective obligations to the other and secondly, that you get your lawyer to review it before you sign it to check that it contains everything it should, makes sense and is fair. Building disputes are very common and particularly stressful as they can involve relatively large sums of money and often the parties are under time pressure. We cannot overstate the value of having a clearly-worded and comprehensive building contract in place before you start your exciting journey.

DISCLAIMER: This information is given as a guide only. All information in this website is to author’s knowledge true and accurate. No liability is assumed by the authors, or publishers, for any losses suffered by any person relying directly or indirectly upon the information contained in this website. It is recommended that you consult a representative of The Property Practice Ltd before acting upon this information.