Introduction:

Building your dream home on the coast of Redcliffe is an exciting endeavour, and understanding the financial journey is crucial. Wisteria Constructions, a leading custom home builder in the region, is here to guide you through the payment process, ensuring a seamless and stress-free experience. From initial deposits to progress payments and variations, we offer transparency and fixed-price construction to make your custom home a reality.

Initial Deposit:

When you engage Wisteria Constructions to build your custom home, we require an initial deposit to secure your project in our building schedule. This deposit demonstrates your commitment to the build and allows us to allocate the necessary resources and commence the initial stages of construction. The amount of this deposit may vary depending on the scale and complexity of your project, but it typically ranges from 5% to 10% of the total contract price. This deposit also serves as a show of good faith, ensuring that both parties are committed to the upcoming construction journey.

Progress Payments:

As your custom home takes shape, you’ll make progress payments at key milestones throughout the construction process. These payments are tied to specific stages of work and are made as each milestone is achieved. At Wisteria Constructions, we typically break down the construction journey into five or six distinct stages, each with an associated payment. These stages might include foundation work, framing, lock-up, interior fittings, and the final handover. By structuring payments this way, you gain visibility into the build’s progress and can more easily manage your cash flow.

Fixed-Price Construction:

At Wisteria Constructions, we pride ourselves on offering fixed-price construction contracts. This means that once we provide you with a detailed quote and you accept it, that price remains unchanged unless you request variations to the original scope of work. Our fixed-price approach provides certainty and peace of mind, allowing you to plan your finances accurately and avoid unexpected costs. It also demonstrates our confidence in our ability to accurately scope and price your project from the outset.

Variations and Additional Costs:

While our fixed-price model provides stability, we understand that sometimes your vision may evolve during the construction process, or you may wish to incorporate additional features or upgrades. In these instances, variations to the original contract may be required, which can result in additional costs. These variations are always discussed and agreed upon with you beforehand, ensuring transparency and no unpleasant surprises. It’s important to carefully consider any changes and their associated costs, as they can impact your overall budget.

Final Handover and Balance Payment:

As your custom home nears completion, the final stage of the payment schedule is the balance payment, which is typically due upon handover of the keys and completion of any final inspections. This payment finalises our contractual obligations, and you can begin the exciting process of moving into your new home. We will provide you with a final invoice outlining any remaining amounts owed, taking into account previous payments and any variations that were incurred during the build.

FAQs

Q: When do I make the initial deposit?

A: The initial deposit is typically paid upon signing the building contract and securing your project in our schedule. This deposit demonstrates your commitment to the build and allows us to allocate the necessary resources to commence construction planning.

Q: How are progress payments structured?

A: Progress payments are tied to specific milestones in the construction process. We break down the build into distinct stages, such as foundation work, framing, lock-up, and interior fittings. Payments are due upon completion of each stage, providing transparency and helping you manage cash flow.

Q: What is included in the fixed-price quote?

A: Our fixed-price quote includes all labour, materials, and services as outlined in the building contract and specifications. It covers the entire scope of work required to complete your custom home, providing certainty and peace of mind.

Q: What if I want to make changes during construction?

A: We understand that your vision may evolve, and we’re happy to accommodate changes. Any variations to the original contract will be discussed and priced separately, ensuring you’re aware of any additional costs before proceeding.

Q: When is the final payment due?

A: The final balance payment is typically due upon handover of your completed home and completion of any necessary inspections. This payment finalises our contractual obligations, and you can then focus on settling into your new custom home.

Key Information:

| Stage | Payment Schedule |

——————–	—————————————————————————————————————————————————————————
Progress Payments	Tied to specific milestones. Made at the completion of each construction stage (e.g. foundation, framing, lock-up). Provides transparency and helps manage cash flow.
Fixed-Price Quote	Provided before signing the contract. Covers all labour, materials, and services as specified. Provides certainty with no hidden costs.
Variations	Priced separately if you request changes during construction. Discussed and agreed upon before proceeding, ensuring transparency and control over additional costs.
Final Balance Payment	Due upon handover and completion of inspections. Finalises our contractual obligations.

| Initial Deposit | Due upon signing the building contract. Typically ranges from 5% to 10% of the total contract price, securing your project in our building schedule. | | Progress Payments | Tied to specific milestones. Made at the completion of each construction stage (e.g. foundation, framing, lock-up). Provides transparency and helps manage cash flow. | | Fixed-Price Quote | Provided before signing the contract. Covers all labour, materials, and services as specified. Provides certainty with no hidden costs. | | Variations | Priced separately if you request changes during construction. Discussed and agreed upon before proceeding, ensuring transparency and control over additional costs. | | Final Balance Payment | Due upon handover and completion of inspections. Finalises our contractual obligations. |

Conclusion:

Understanding the payment schedule is a crucial aspect of building your custom home in Redcliffe. Wisteria Constructions is dedicated to transparency and fixed-price construction, ensuring you can plan your finances with confidence. Our team is committed to bringing your coastal dream home to life, offering a seamless journey from initial deposit to final handover.

Call to Action:

If you’re ready to take the first step towards building your custom home, contact Wisteria Constructions today. Our team will guide you through the entire process, providing clarity on payment schedules, fixed-price quotes, and any variations you may desire. Let’s turn your coastal dream into a reality.

These articles are drafted with AI assistance and should be considered general information not professional advice or information Learn More