Ep. 117 | Cracking the code: 5 Confusing building contract terms explained
Description
Building contracts can be full of hidden traps and confusing jargon. In this episode, we break down the five clauses that trip up most homeowners - covering prime costs, provisional sums, payment schedules, special conditions, build time frames and utility connections.
Topic timestamps
02:28 Prime Costs (PCs): allowances for items not yet selected (e.g., taps, tiles)
03:41 Provisional Sums (PSs): estimated costs for work not yet defined (e.g., excavation)
07:32 Payment Schedules: deposit, base, frame, lockup, fix, final payment
07:42 Contract Details: what the contract must include
08:25 Different Contracts: progress payment methods (Schedule 1 vs Method 2)
09:21 Monthly Payments Misunderstanding: why it’s milestone-based, not monthly
09:37 Tips When You Get the Invoice
13:43 Special Conditions: extra terms to watch out for
17:09 Build Time Frames: contract vs real-world expectations
22:55 Utility Connection Costs: water, electricity, gas, NBN
23:05 Common Misconception About Utility Fees
Liking the show?
Please leave us a 5 star rating on your podcast platform and share the show with others - thank you. Please consider subscribing too.
Got a question, topic idea or feedback?
Head to our website and leave your comments there > homebuildinghub.com.au or send an email to hello@homebuildinghub.com.au
Other places to watch or listen... and catch up on more content:
YouTube
Facebook
LinkedIn
TikTok
United States
