{"id":4504,"date":"2015-05-22T01:00:55","date_gmt":"2015-05-21T15:00:55","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=4504"},"modified":"2015-05-22T01:00:55","modified_gmt":"2015-05-21T15:00:55","slug":"how-to-select-a-good-builder-samantha-powers-story","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/how-to-select-a-good-builder-samantha-powers-story\/","title":{"rendered":"How to select a good builder? Samantha Powers&#039; story"},"content":{"rendered":"<p>&nbsp;<br \/>\nEarlier this week we talked with Samantha Powers. Samantha entered into a building agreement naively assuming the contract was fair and that she would be protected. She was wrong. In today&#8217;s show she gives are more tips\u00a0on selecting a good builder.<br \/>\n&nbsp;<br \/>\n<strong>Transcript:<\/strong><br \/>\n<b>Kevin:<\/b>\u00a0 Getting back to our conversation with Samantha Powers and the e-book that we\u2019re talking about \u2013 and you can get more information on the website, NewHomeContracts.com.au \u2013 we are helping you to make sure you choose the right builder if you\u2019re going to go into a building contract. Learn from the experiences of Samantha.<br \/>\nSamantha, earlier in the show, you were giving us some tips on selecting a good builder. You\u2019ve given us one. What\u2019s the second one?<br \/>\n<b>Samantha:<\/b>\u00a0 Thanks, Kevin. Like I said, there are many tips that you can do, but I\u2019ll touch on another one at this point. The second is to make sure that the liquidated damages are sufficient for your contract.<br \/>\nAt this point in time, the standard default rate is about $250 a week, and liquidated damages is just the cost if the builder goes over the contracted time and everything. Now, $250 a week is not much if you are building, say, three townhouses or something like that. If you\u2019ve already drawn 80% of your construction loan, $250 a week is definitely not going to be anywhere near your actual costs.<br \/>\nMaking sure that your liquidated damages are not zero and quite potentially quite possibly above $250 is another thing, because that deters them from dragging their heels and going over the contracted timeframe.<br \/>\n<b>Kevin:<\/b>\u00a0 Do contracts and standards vary much between the states?<br \/>\n<b>Samantha:<\/b>\u00a0 The contracts themselves don\u2019t. In each state, they rely on different kind of legislation, but the contracts themselves are just an agreement between two parties, so they can be changed depending on what the parties want.<br \/>\nWhen it comes to the differences between states, there\u2019s different terminology. Victoria has a building survey that issues and occupancy permit whereas New South Wales, they call it something else and they get an occupancy certificate. It\u2019s more terminology differences, but in general contracts, it all comes down to the cost of the project. Over $500,000, you might require a different contract. Under $500,000, the same story.<br \/>\nEach state has small differences, but ultimately you can protect yourself through implementing fairer terms in your contract.<br \/>\n<b>Kevin:<\/b>\u00a0 Is it as simple as making sure that there\u2019s some kind of performance within that contract, that it has to be done within a certain timeframe, and also, whether or not it should be done at a fixed price?<br \/>\n<b>Samantha:<\/b>\u00a0 A fixed price contract is never actually fixed because there\u2019s always the possibility that inclement weather could occur or that your bricks might not be available. Fixed contracts are desired but they\u2019re never really fixed. Yes, you can try that, but otherwise, you have to get a good builder who\u2019s going to give you a big overview of what could go wrong, and then it\u2019s not just about having that locked-in price; there are so many more things that you can also do.<br \/>\n<b>Kevin:<\/b>\u00a0 I know you cover that in some great detail inside the e-book, and it\u2019s called \u201cThe Essential Guide to Australian Domestic Building Contracts: Save Yourself Thousands.\u201d It\u2019s available through Samantha\u2019s website, which I mentioned earlier, and I\u2019ll do it again now: NewHomeContracts.com.au.<br \/>\nJust in closing, Samantha, what\u2019s the best thing to do if a project does actually come off the rails?<br \/>\n<b>Samantha:<\/b>\u00a0 If a project comes off the rails, you need to seek advice from various sources. Each individual state has a place to go or people that you can consult with. For those in Victoria, it\u2019s the Building Commission \u2013 they\u2019ve renamed it now. You can go there. But they all have disclaimers that their advice is advice only and they\u2019re not bound by it legally.<br \/>\nDon\u2019t go to your friends and family and ask them. If they have no clue about building and contracts, then you\u2019re going to get some great opinions, but\u2026<br \/>\nIf you decide that maybe the building work has not actually reached the stage and you refuse to give a payment, if you are actually in the wrong, then you are liable for costs in the end. You need to do your research, you need to really understand the terms and what your obligations are.<br \/>\n<b>Kevin:<\/b>\u00a0 It\u2019s all covered, as I said, in that book that\u2019s called \u201cThe Essential Guide to Australian Domestic Building Contracts.\u201d It\u2019s been written by Samantha Powers. It\u2019s available on the website NewHomeContracts.com.au. Samantha, we are out of time but thank you so much for sharing this experience with us. I know that it will have helped a lot of people.<br \/>\nFinally, can I ask you, was there a happy outcome?<br \/>\n<b>Samantha:<\/b>\u00a0 Yes. I finished the house myself, I learned a great deal throughout, and I will do it again.<br \/>\n<b>Kevin:<\/b>\u00a0 Okay. That\u2019s great to hear. Samantha Powers. That website, again, is NewHomeContracts.com.au.<br \/>\nSamantha, thanks for sharing your experience with us.<br \/>\n<b>Samantha:<\/b>\u00a0 Thank you for having me, Kevin.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; Earlier this week we talked with Samantha Powers. Samantha entered into a building agreement naively assuming the contract was fair and that she would be protected. She was wrong. In today&#8217;s show she gives are more tips\u00a0on selecting a good builder. &nbsp; Transcript: Kevin:\u00a0&#8230;<\/p>\n","protected":false},"author":176692471,"featured_media":4490,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[10,13,25],"tags":[101],"class_list":["post-4504","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-kevin-turner-sponsored-channels","category-latest-story","category-sponsored-channels","tag-podcast"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How to select a good builder? 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