Due Diligence is Key When Looking for the Right Builder

Due Diligence is Key When Looking for the Right Builder

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Due Diligence is Key When Looking for the Right Builder

due dilligence when signing a contract

Due Diligence is Key When Looking for the Right Builder

Are you building or renovating?

How do you know who the right Builder/Tradesperson is for your job? 

Here are some invaluable tips that will help you make an informed decision.

  1. Check your Tradesperson / Builder is licensed, and that their licence covers the work to be undertaken. You can find this out by visiting www.fairtrading.nsw.gov.au
  2. Check your Tradesperson / Builder is correctly insured.  Those insurances include
    • Construction Works Insurance
    • Public Liability Insurance
    • Workers Compensation
  3. Check your Tradesperson / Builder is eligible to undertake works over $20k. Ask your Tradesman / Builder to show you their letter of eligibility to undertake these works.
  4. Check your quotes carefully.
    • Has everything you discussed been included in the quote?
    • Are all the quotes covering the same work?
    • Check for any exclusions.  You may receive a cheaper quote now but that may turn costly if you haven’t adequately accounted for anything not included in the quote.
  5. Ask for references and to see past works.  Speak to owners of other properties to see if they were happy with the builder’s work.

 

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