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Selwyn Times: July 04, 2018

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10<br />

Building blocks<br />

to a new home<br />

As Cantabrians continue to move forward, when building<br />

a new home, here’s a reminder to pay attention to some of<br />

the fine details...<br />

Anyone intending to build a new home<br />

should have the builder’s contract<br />

checked out by an experienced lawyer.<br />

A payment schedule can also<br />

minimise financial risks. Issues that<br />

you may have to deal with include:<br />

the deposit, guarantees and warranties<br />

If you want to compare building<br />

companies, it’s important to get down<br />

to finer details such as how many<br />

power points there are per room, the<br />

type of windows you are having or<br />

which paint finishes are included.<br />

Questions to ask<br />

builders include:<br />

• Do you have a completion guarantee<br />

and how does it work?<br />

• Is there a loss of deposit<br />

guarantee?<br />

• Is the company a<br />

Registered Master Builder<br />

and does it use thirdparty<br />

written guarantees?<br />

• What is the schedule for<br />

payments?<br />

• How are the deposit and<br />

progress payments<br />

administered?<br />

• Are they held in a solicitor’s trust<br />

fund?<br />

• Will the master franchisor complete<br />

the build if the franchisee goes out<br />

of business<br />

• What are the exact specs?<br />

• Are the prices fixed?<br />

• What is excluded from the build?<br />

• Are there any restrictions on<br />

driveways or any other connections?<br />

• Can you speak with clients who<br />

have just completed a build?<br />

Do your homework before you decide<br />

on a building company and you will<br />

have a less stressful time once the<br />

building process starts.

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