How does the building process actually work? So glad you asked. While every build will differ slightly, the construction of a home and its progression from design selection to settlement follows roughly the same timeline.
THE BUILDING PROCESS
FALL IN LOVE WITH A DESIGN & PAY YOUR DEPOSIT
Once you’ve found a design you love, an outcome that you’ve no doubt reached after enduring countless hours in display homes, on builder’s websites and stalking the Instagram images of architectural masterpieces, you’ll attend an appointment with the team and place your $1500 initial deposit, which will lock in the price of your home for 12 months.
Then, you’ll also nominate your home’s preferred siting on your land, submit various documents (including Land Contract, Disclosure/Sealed/Registered Plan, Estate Developer Guidelines and a Soil Compaction Report if required).
After that, you’ll provide the detail of your lending institution or chat with our nominated Finance Broker. This is also a good time to consider how you will personalise your new home with any variations, prior to the next stage.
PAPERWORK AND VARIATION TIME
At this time, you’ll need provide all paperwork and we will submit your file into head office, including your finance Pre-Approval letter. You’ll also speak with your New Home Consultant about any variations to your plans, so that they can finalise your New Home Proposal.
After this, you’ll pay $1000 to progress to Contract Tender, which will become a part of your contract value.
You’ll also get to preview your Colour Selection Pack which we will send out allowing you to begin browsing and visualise the available colours, products and finishes you can choose for your home!
The fun part. If you build with Burbank, you’ll spend some time at our Edge Selection Studio, a showroom bustling with potential options for the internal and external fixtures of your new home. Equipped with interior designers who live and breathe décor, you’ll be working with the most creative and stylish in the business. At this point, we’ll finalise variations and obtain the developer’s guideline approval if required.
At this point, you’ll attend your HIA Contract signing appointment, and pay a 5% deposit less $2500 already paid. You’ll also need to provide proof of ownership of land and finalise your unconditional finance approval.
PERMITS AND ORDERS
Things are getting real. Sign and return Final Construction Drawings and Documentation and obtain written permission from adjoining neighbours to allow site access to construct zero boundary walls if required. This stage will also be the time to complete any Developer Covenant Requirements, which are detailed in your contract. Council will assess your home design and submitted reports, ensuring everything complies with the relevant National, State and Local regulations and by-laws.
It’s happening. At this point, you’ll need to provide a letter from your Financier stating Authority to Commence Construction or, if you are paying cash, provide proof of funds by signing a Statutory Declaration and providing a current bank statement.
Then, progress payments are made as follows:
Deposit: 5% of contract price
Base: 15% of contract price
Frame: 20% of contract price
Enclosed: 25% of contract price
Fixing: 20% of contract price
Completion: 15% of contract price