26/08/2026
๐๏ธ BUILDING A NEW HOME OR INVESTMENT PROPERTY?
Before selecting a builder or signing a building contract, work through this practical checklist:
๐ Builder checks
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Verify the builderโs licence, registration and trading history
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Review completed projects and speak with previous clients where possible
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Check the builderโs experience with similar properties and site conditions
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Confirm who will supervise the construction
๐ Contract and costs
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Obtain a detailed written quotation
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Confirm all inclusions, exclusions, upgrades and provisional allowances
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Check site costs, earthworks, retaining walls, drainage and service connections
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Have the plans, specifications and building contract independently reviewed
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Understand the deposit, progress-payment stages and construction timeframe
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Check how delays, price increases and extensions of time are handled
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Ensure every promise and agreed change is recorded in writing
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Before approving a variation, confirm its cost and effect on completion time
๐ก๏ธ Insurance and protection
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Verify the builder holds the required insurance for the project
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Obtain evidence of the applicable home-building compensation or warranty insurance before work starts or payments are made
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Request relevant certificates, including public liability, contract works and workersโ compensation cover where applicable
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Confirm whether you need separate construction, land or public liability insurance
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Notify your insurer before construction begins
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Arrange appropriate building insurance before handover or occupation
๐ฆ Finance and progress payments
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Arrange finance early and understand the lenderโs construction requirements
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Confirm whether your loan approval has an expiry date or conditions
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Keep your contribution available for the required stages
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Understand how progress-payment requests, inspections and invoices are handled
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Check that the claimed construction stage has been completed before authorising payment
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Maintain a contingency fund for variations, delays and unexpected expenses
๐จ During construction
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Confirm responsibility for permits, approvals and mandatory inspections
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Engage an independent building inspector at important construction stages
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Regularly photograph and document the work
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Keep written records of discussions, decisions, variations and approvals
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Raise concerns promptly and in writing
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Avoid requesting unnecessary changes once construction has started
๐ Before handover
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Arrange an independent pre-handover inspection
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Prepare a detailed list of defects and incomplete items
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Confirm required approvals and occupancy documentation have been issued
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Collect warranties, manuals, certificates, plans and keys
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Understand the defects-liability and maintenance process
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Confirm appropriate property insurance is active
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Do not authorise the final payment until the relevant work and lender requirements are satisfied
A beautiful display home may capture your attentionโbut careful checks, a properly reviewed contract, suitable insurance, disciplined finance management and independent inspections can better protect your building journey.
Save this checklist and share it with someone planning to build. ๐ก
Disclaimer: This post provides general information only and does not constitute legal, financial, insurance, building, taxation or property advice. Building laws, insurance requirements, contracts, lender policies and individual circumstances vary between states, projects and providers. Before signing a contract, paying a deposit or making a financial commitment, consider obtaining independent advice from a qualified solicitor or conveyancer, building consultant, insurance adviser, accountant and licensed finance professional. Finance is subject to lender policies, eligibility, valuation and credit approval.
