Your new home, after carefully planning on paper and watching it emerge from the ground, is nearly complete. You’re peeping through the window at your shiny new kitchen and are already thinking of the first meal you will cook. You can smell the paint on the walls , and all the items you selected throughout the building process (which you probably lost a few nights’ sleep over… will the floors match? Is the kitchen big enough?) are in place, ready to play their part in lifelong memories. The wardrobe is almost ready for clothes to be hung and you are itching to unpack!
What happens now?
Once the house is completed, your builder will arrange for a building final inspection to be completed. A building certifier or a representative from Council will carry out an inspection of the entire home to ensure it has been built to Australian Building Standards and all necessary work is completed. Once they are happy with your home, they will issue a building final and send this directly to your builder.
Your builder will then forward this to you, along with the Practical Completion (final payment) invoice. At this time, the builder will also issue a letter to you advising it is time to arrange your house insurance. If you have taken out a construction loan with your bank, these two documents (building final, practical completion invoice) along with your insurance needs to be sent to them.
Your financier will then process the paperwork and organise a suitable time with the builder for a valuation to take place. The valuer (person completing the inspection) will be confirming all the inclusions listed in the building contract have been installed. They will then issue their report to your financier, who then will make the final payment to the builder.
Whilst the builder is waiting for final payment, they will arrange a handover inspection with you of your new home. This is an exciting step as it’s one of the very last steps before moving in! During the handover inspection, you will both walk through the house and review the build. If there is anything that needs to be rectified, the builder will complete this prior to handing over your house, or within an agreed time after handover.
Once the builder has received the final payment, they will contact you directly to arrange a suitable time for handover. During this appointment, we meet our owners on site and explain any future maintenance of the house (smoke alarms, cleaning gutters, bracing under your house, which will be explained further in another article), the locks will be changed, and your new keys handed to you.
All your hard work has paid off and you own your new home.